Broad Equity Market Tone:
- Advance/Decline Line: Slightly Lower
- Sector Performance: Mixed
- Volume: Light
- Market Leading Stocks: Performing In Line
Equity Investor Angst:
- Volatility(VIX) 14.3 +6.3%
- Euro/Yen Carry Return Index 126.73 -.2%
- Emerging Markets Currency Volatility(VXY) 6.56 +.92%
- S&P 500 Implied Correlation 43.42 -4.84%
- ISE Sentiment Index 82.0 -7
- Total Put/Call 1.08 +25.6%
- NYSE Arms .63 -60.9%
Credit Investor Angst:
- North American Investment Grade CDS Index 44.45 +.95%
- America Energy Sector High-Yield CDS Index 542.0 -.70%
- European Financial Sector CDS Index 51.72 -.89%
- Italian/German 10Y Yld Spread 159.75 -3.25 basis points
- Asia Ex-Japan Investment Grade CDS Index 53.18 +.10%
- Emerging Market CDS Index 174.18 -.31%
- iBoxx Offshore RMB China Corporate High Yield Index 167.41 +.04%
- 2-Year Swap Spread 10.75 +1.25 basis points
- TED Spread 39.5 -1.0 basis point
- 3-Month EUR/USD Cross-Currency Basis Swap 4.5 +5.5 basis points
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 66.69 +.19%
- 3-Month T-Bill Yield 1.54% -2.0 basis point
- Yield Curve .30 +3.0 basis points
- China Iron Ore Spot 89.57 USD/Metric Tonne +.11%
- Citi US Economic Surprise Index -3.9 +4.4 points
- Citi Eurozone Economic Surprise Index 29.10 +1.2 points
- Citi Emerging Markets Economic Surprise Index -12.7 +3.2 basis points
- 10-Year TIPS Spread 1.77 +1.0 basis point
- 5.9% chance of Fed rate cut at March 18th meeting, 12.7% chance of cut at April 29th meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating -131 open in Japan
- China A50 Futures: Indicating -11 open in China
- DAX Futures: Indicating -94 open in Germany
Portfolio:
- Slightly Lower: On losses in my medical/tech/biotech sector longs
- Disclosed Trades: None
- Market Exposure: 100% Net Long
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