Broad Equity Market Tone:
- Advance/Decline Line: Lower
- Sector Performance: Mixed
- Volume: Below Average
- Market Leading Stocks: Performing In Line
Equity Investor Angst:
- Volatility(VIX) 12.6 +4.3%
- Euro/Yen Carry Return Index 130.96 +.16%
- Emerging Markets Currency Volatility(VXY) 8.26 -.12%
- S&P 500 Implied Correlation 35.98 +.11%
- ISE Sentiment Index 105.0 +22.1%
- Total Put/Call .86 -1.156%
- NYSE Arms .79 -8.14%
Credit Investor Angst:
- North American Investment Grade CDS Index 58.31 +1.59%
- America Energy Sector High-Yield CDS Index 454.0 +.28%
- European Financial Sector CDS Index 68.16 +.27%
- Italian/German 10Y Yld Spread 257.75 unch.
- Asia Ex-Japan Investment Grade CDS Index 63.75 -.10%
- Emerging Market CDS Index 178.82 +.40%
- iBoxx Offshore RMB China Corporate High Yield Index 161.61 +.07%
- 2-Year Swap Spread 8.5 -1.25 basis points
- TED Spread 17.0 -.75 basis point
- 3-Month EUR/USD Cross-Currency Basis Swap -18.0 +.25 basis point
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 67.22 -.13%
- 3-Month T-Bill Yield 2.42% +1.0 basis point
- Yield Curve 20.5 +2.5 basis points
- China Iron Ore Spot 92.47 USD/Metric Tonne +1.97%
- Citi US Economic Surprise Index -67.80 -8.6 points
- Citi Eurozone Economic Surprise Index -38.70 +4.6 points
- Citi Emerging Markets Economic Surprise Index 5.0 -.6 point
- 10-Year TIPS Spread 1.96 +1.0 basis point
- 16.1% chance of Fed rate cut at June 19th meeting, 21.0% chance of cut at July 31st meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating +33 open in Japan
- China A50 Futures: Indicating +5 open in China
- DAX Futures: Indicating +21 open in Germany
Portfolio:
- Slightly Higher: On gains in my tech/biotech sector longs
- Disclosed Trades: None
- Market Exposure: 100% Net Long
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