Broad Equity Market Tone:
- Advance/Decline Line: Higher
- Sector Performance: Mixed
- Volume: Below Average
- Market Leading Stocks: Outperforming
Equity Investor Angst:
- Volatility(VIX) 12.77 -3.6%
- Euro/Yen Carry Return Index 129.35 +.18%
- Emerging Markets Currency Volatility(VXY) 8.19 -3.08%
- S&P 500 Implied Correlation 35.55 -.14%
- ISE Sentiment Index 114.0 +9.6%
- Total Put/Call .82 -3.53%
- NYSE Arms .96 -11.11%
Credit Investor Angst:
- North American Investment Grade CDS Index 57.52 -1.68%
- America Energy Sector High-Yield CDS Index 446.0 +1.0%
- European Financial Sector CDS Index 70.93 -3.22%
- Italian/German 10Y Yld Spread 260.5 -9.25 basis points
- Asia Ex-Japan Investment Grade CDS Index 64.94 -.14%
- Emerging Market CDS Index 194.34 -.15%
- iBoxx Offshore RMB China Corporate High Yield Index 161.83 +.06%
- 2-Year Swap Spread 10.5 +.25 basis point
- TED Spread 17.25+1.25 basis points
- 3-Month EUR/USD Cross-Currency Basis Swap -17.75 -.75 basis point
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 66.55 +.20%
- 3-Month T-Bill Yield 2.41% -1.0 basis point
- Yield Curve 21.75 +1.0 basis point
- China Iron Ore Spot 91.35 USD/Metric Tonne +.57%
- Citi US Economic Surprise Index -57.10 +11.7 points
- Citi Eurozone Economic Surprise Index -39.0 +.1 point
- Citi Emerging Markets Economic Surprise Index -4.8 +.4 point
- 10-Year TIPS Spread 1.98 unch.
- 22.8% chance of Fed rate cut at June 19th meeting, 31.4% chance of cut at July 31st meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating +72 open in Japan
- China A50 Futures: Indicating +72 open in China
- DAX Futures: Indicating +27 open in Germany
Portfolio:
- Higher: On gains in my tech/medical/biotech/industrial/retail sector longs
- Disclosed Trades: None
- Market Exposure: 100% Net Long
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