Broad Equity Market Tone:
- Advance/Decline Line: Higher
- Sector Performance: Most Sectors Rising
- Volume: Below Average
- Market Leading Stocks: Performing In Line
Equity Investor Angst:
- Volatility(VIX) 13.79 -3.3%
- Euro/Yen Carry Return Index 129.92 -.11%
- Emerging Markets Currency Volatility(VXY) 8.07 -.86%
- S&P 500 Implied Correlation 36.14 -1.93%
- ISE Sentiment Index 71.0 -42.3%
- Total Put/Call .87 +1.16%
- NYSE Arms 1.64 +18.8%
Credit Investor Angst:
- North American Investment Grade CDS Index 60.09 -.96%
- America Energy Sector High-Yield CDS Index 515.0 +1.28%
- European Financial Sector CDS Index 72.68 -2.06%
- Italian/German 10Y Yld Spread 243.75 +.25 basis point
- Asia Ex-Japan Investment Grade CDS Index 67.31 +.07%
- Emerging Market CDS Index 175.76 -.16%
- iBoxx Offshore RMB China Corporate High Yield Index 161.21 +.03%
- 2-Year Swap Spread 9.75 +1.0 basis point
- TED Spread 17.5 -1.25 basis points
- 3-Month EUR/USD Cross-Currency Basis Swap -13.5 +4.0 basis points
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 67.75 +.33%
- 3-Month T-Bill Yield 2.41% +1.0 basis point
- Yield Curve 15.0 -.5 basis point
- China Iron Ore Spot 90.88 USD/Metric Tonne -.65%
- Citi US Economic Surprise Index -62.30 -6.6 points
- Citi Eurozone Economic Surprise Index -47.90 +3.9 points
- Citi Emerging Markets Economic Surprise Index -5.60 +1.3 points
- 10-Year TIPS Spread 1.94 +3.0 basis points
- 13.6% chance of Fed rate cut at June 19th meeting, 19.3% chance of cut at July 31st meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating -12 open in Japan
- China A50 Futures: Indicating -15 open in China
- DAX Futures: Indicating +40 open in Germany
Portfolio:
- Higher: On gains in my biotech/retail/tech/medical sector longs
- Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges
- Market Exposure: Moved to 100% Net Long
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