Broad Equity Market Tone:
- Advance/Decline Line: Slightly Lower
- Sector Performance: Mixed
- Volume: Around Average
- Market Leading Stocks: Performing In Line
Equity Investor Angst:
- Volatility(VIX) 13.5 -2.3%
- Euro/Yen Carry Return Index 125.57 -.3%
- Emerging Markets Currency Volatility(VXY) 667 -.15%
- S&P 500 Implied Correlation 40.5 -2.7%
- ISE Sentiment Index 134.0 +20
- Total Put/Call .68 -17.1%
- NYSE Arms 1.01 +3.06%
Credit Investor Angst:
- North American Investment Grade CDS Index 46.23 +.66%
- America Energy Sector High-Yield CDS Index 503.0 -2.01%
- European Financial Sector CDS Index 54.18 -.76%
- Italian/German 10Y Yld Spread 166.25 +1.75 basis points
- Asia Ex-Japan Investment Grade CDS Index 55.75 -2.08%
- Emerging Market CDS Index 182.95 +1.26%
- iBoxx Offshore RMB China Corporate High Yield Index 168.19 -.02%
- 2-Year Swap Spread 7.25 +.75 basis point
- TED Spread 35.25 -1.5 basis points
- 3-Month EUR/USD Cross-Currency Basis Swap 1.25 +1.0 basis point
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 66.38 -.14%
- 3-Month T-Bill Yield 1.52% unch.
- Yield Curve .28 +3.0 basis points
- China Iron Ore Spot 93.35 USD/Metric Tonne +.63%
- Citi US Economic Surprise Index -4.3 +2.7 points
- Citi Eurozone Economic Surprise Index 44.60 +1.6 points
- Citi Emerging Markets Economic Surprise Index -8.4 +1.2 basis points
- 10-Year TIPS Spread 1.75 -2.0 basis points
- 6.6% chance of Fed rate cut at March 18th meeting, 17.4% chance of cut at April 29th meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating -155 open in Japan
- China A50 Futures: Indicating -12 open in China
- DAX Futures: Indicating -28 open in Germany
Portfolio:
- Slightly Higher: On gains in my biotech/tech/industrial sector longs
- Disclosed Trades: None
- Market Exposure: 100% Net Long
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