Broad Equity Market Tone:
- Advance/Decline Line: Modestly Higher
- Sector Performance: Almost Every Sector Rising
- Volume: Above Average
- Market Leading Stocks: Performing In Line
Equity Investor Angst:
- Volatility(VIX) 12.5 -.16%
- Euro/Yen Carry Return Index 125.82 -.33%
- Emerging Markets Currency Volatility(VXY) 6.47 -.92%
- S&P 500 Implied Correlation 42.71 +3.56%
- ISE Sentiment Index 81.0 -40
- Total Put/Call .74 -3.9%
- NYSE Arms .84 -21.5%
Credit Investor Angst:
- North American Investment Grade CDS Index 45.08 -1.43%
- America Energy Sector High-Yield CDS Index 541.0 -1.56%
- European Financial Sector CDS Index 52.35 -.87%
- Italian/German 10Y Yld Spread 166.0 +4.25 basis points
- Asia Ex-Japan Investment Grade CDS Index 54.01 -2.21%
- Emerging Market CDS Index 181.81 -1.04%
- iBoxx Offshore RMB China Corporate High Yield Index 167.20 -.08%
- 2-Year Swap Spread 7.25 unch.
- TED Spread 36.75 +1.5 basis points
- 3-Month EUR/USD Cross-Currency Basis Swap -12.5 -2.75 basis points
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 66.27 -.1%
- 3-Month T-Bill Yield 1.56% unch.
- Yield Curve .29 unch.
- China Iron Ore Spot 91.90 USD/Metric Tonne +2.01%
- Citi US Economic Surprise Index -7.6 +.4 basis point
- Citi Eurozone Economic Surprise Index 16.30 +5.6 points
- Citi Emerging Markets Economic Surprise Index -16.2 -.1 basis point
- 10-Year TIPS Spread 1.78 unch.
- 9.2% chance of Fed rate cut at March 18th meeting, 16.5% chance of cut at April 29th meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating +30 open in Japan
- China A50 Futures: Indicating +63 open in China
- DAX Futures: Indicating +2 open in Germany
Portfolio:
- Higher: On gains in my tech/retail/biotech/medical/industrial sector longs
- Disclosed Trades: None
- Market Exposure: 100% Net Long
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