Broad Equity Market Tone:
- Advance/Decline Line: Higher
- Sector Performance: Most Sectors Rising
- Volume: Around Average
- Market Leading Stocks: Performing In Line
Equity Investor Angst:
- Volatility(VIX) 12.9 -4.3%
- Euro/Yen Carry Return Index 126.30 +.38%
- Emerging Markets Currency Volatility(VXY) 6.6 -2.1%
- S&P 500 Implied Correlation 38.2 -10.0%
- ISE Sentiment Index 113.0 +2
- Total Put/Call .63 -16.0%
- NYSE Arms 1.22 -9.6%
Credit Investor Angst:
- North American Investment Grade CDS Index 44.39 -2.18%
- America Energy Sector High-Yield CDS Index 524.0 +2.58%
- European Financial Sector CDS Index 50.56 -3.81%
- Italian/German 10Y Yld Spread 155.75 +6.25 basis points
- Asia Ex-Japan Investment Grade CDS Index 54.51 -2.22%
- Emerging Market CDS Index 178.89 -.58%
- iBoxx Offshore RMB China Corporate High Yield Index 168.59 +.16%
- 2-Year Swap Spread 6.5 unch.
- TED Spread 35.0 -.5 basis point
- 3-Month EUR/USD Cross-Currency Basis Swap -2.75 +.5 basis point
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 66.59 -.02%
- 3-Month T-Bill Yield 1.53% unch.
- Yield Curve .28 unch.
- China Iron Ore Spot 91.83 USD/Metric Tonne -.91%
- Citi US Economic Surprise Index 1.7 +1.4 points
- Citi Eurozone Economic Surprise Index 42.40 -1.3 point
- Citi Emerging Markets Economic Surprise Index -8.4 -.9 basis point
- 10-Year TIPS Spread 1.76 unch.
- 4.7% chance of Fed rate cut at March 18th meeting, 12.2% chance of cut at April 29th meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating +36 open in Japan
- China A50 Futures: Indicating +28 open in China
- DAX Futures: Indicating +3 open in Germany
Portfolio:
- Higher: On gains in my biotech/tech/industrial/medical/retail sector longs
- Disclosed Trades: None
- Market Exposure: 100% Net Long
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