Broad Equity Market Tone:
- Advance/Decline Line: Higher
- Sector Performance: Mixed
- Volume: Below Average
- Market Leading Stocks: Outperforming
Equity Investor Angst:
- Volatility(VIX) 12.13 -1.5%
- Euro/Yen Carry Return Index 131.36 -.19%
- Emerging Markets Currency Volatility(VXY) 8.13 -.37%
- S&P 500 Implied Correlation 35.42 +.85%
- ISE Sentiment Index 98.0 -7.55%
- Total Put/Call 1.0 +9.89%
- NYSE Arms .99 -18.85%
Credit Investor Angst:
- North American Investment Grade CDS Index 57.23 +1.42%
- America Energy Sector High-Yield CDS Index 502.0 -.1%
- European Financial Sector CDS Index 70.03 +.06%
- Italian/German 10Y Yld Spread 252.75 +.5 basis point
- Asia Ex-Japan Investment Grade CDS Index 63.68 -.75%
- Emerging Market CDS Index 176.06 -.73%
- iBoxx Offshore RMB China Corporate High Yield Index 161.33 -.04%
- 2-Year Swap Spread 10.0 unch.
- TED Spread 19.75 +1.0 basis point
- 3-Month EUR/USD Cross-Currency Basis Swap -14.5 +1.75 basis points
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 67.46 -.05%
- 3-Month T-Bill Yield 2.42% +2.0 basis points
- Yield Curve 18.0 +2.0 basis points
- China Iron Ore Spot 91.0 USD/Metric Tonne -3.37%
- Citi US Economic Surprise Index -63.20 -5.8 points
- Citi Eurozone Economic Surprise Index -41.80 +2.2 points
- Citi Emerging Markets Economic Surprise Index -4.10 +1.0 point
- 10-Year TIPS Spread 1.96 +1.0 basis point
- 7.2% chance of Fed rate cut at June 19th meeting, 12.1% chance of cut at July 31st meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating +84 open in Japan
- China A50 Futures: Indicating -26 open in China
- DAX Futures: Indicating +31 open in Germany
Portfolio:
- Slightly Higher: On gains in my industrial/tech/retail sector longs
- Disclosed Trades: Added to my (IWM)/(QQQ) hedges
- Market Exposure: Moved to 75% Net Long
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