Broad Equity Market Tone:
- Advance/Decline Line: Slightly Higher
- Sector Performance: Mixed
- Volume: Around Average
- Market Leading Stocks: Outperforming
Equity Investor Angst:
- Volatility(VIX) 12.3 unch.
- Euro/Yen Carry Return Index 126.41 -.22%
- Emerging Markets Currency Volatility(VXY) 6.45 +.16%
- S&P 500 Implied Correlation 41.31 -7.0%
- ISE Sentiment Index 131.0 -1
- Total Put/Call 1.1 +69.2%
- NYSE Arms .72 -37.9%
Credit Investor Angst:
- North American Investment Grade CDS Index 45.84 -.1%
- America Energy Sector High-Yield CDS Index 561.0 -2.98%
- European Financial Sector CDS Index 52.80 +.71%
- Italian/German 10Y Yld Spread 158.75 +2.0 basis points
- Asia Ex-Japan Investment Grade CDS Index 55.53 -4.15%
- Emerging Market CDS Index 180.60 -.53%
- iBoxx Offshore RMB China Corporate High Yield Index 167.13 +.12%
- 2-Year Swap Spread 6.75 +1.0 basis points
- TED Spread 35.0 -.25 basis point
- 3-Month EUR/USD Cross-Currency Basis Swap -15.5 +1.5 basis points
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 66.26 -.08%
- 3-Month T-Bill Yield 1.55% unch.
- Yield Curve .26 +3.0 basis points
- China Iron Ore Spot 90.91 USD/Metric Tonne -.64%
- Citi US Economic Surprise Index -3.70 +.2 basis point
- Citi Eurozone Economic Surprise Index 6.0 +5.3 points
- Citi Emerging Markets Economic Surprise Index -16.5 +.8 basis point
- 10-Year TIPS Spread 1.79 +3.0 basis points
- 7.1% chance of Fed rate cut at March 18th meeting, 16.9% chance of cut at April 29th meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating -29 open in Japan
- China A50 Futures: Indicating +47 open in China
- DAX Futures: Indicating +1 open in Germany
Portfolio:
- Higher: On gains in my tech/medical/retail sector longs
- Disclosed Trades: None
- Market Exposure: 100% Net Long
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