Broad Equity Market Tone:
- Advance/Decline Line: Substantially Higher
- Sector Performance: Most Sectors Rising
- Volume: Around Average
- Market Leading Stocks: Performing In Line
Equity Investor Angst:
- Volatility(VIX) 18.0 -4.4%
- Euro/Yen Carry Return Index 124.72 +.02%
- Emerging Markets Currency Volatility(VXY) 6.78 -.59%
- S&P 500 Implied Correlation 43.78 +1.8%
- ISE Sentiment Index 74.0 +1
- Total Put/Call .67 -37.4%
- NYSE Arms 1.11 -47.6%
Credit Investor Angst:
- North American Investment Grade CDS Index 49.7 +.12%
- America Energy Sector High-Yield CDS Index 647.0 +3.06%
- European Financial Sector CDS Index 53.89 -.66%
- Italian/German 10Y Yld Spread 139.25 +2.25 basis points
- Asia Ex-Japan Investment Grade CDS Index 57.13 -1.93%
- Emerging Market CDS Index 194.44 -.87%
- iBoxx Offshore RMB China Corporate High Yield Index 170.05 +.09%
- 2-Year Swap Spread 6.0 -.5 basis point
- TED Spread 21.25 -.5 basis point
- 3-Month EUR/USD Cross-Currency Basis Swap -7.25 -1.0 basis point
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 65.32 +.21%
- 3-Month T-Bill Yield 1.56% +1.0 basis point
- Yield Curve .20 +2.0 basis points
- China Iron Ore Spot 77.15 USD/Metric Tonne -3.47%
- Citi US Economic Surprise Index 15.90 +8.3 points
- Citi Eurozone Economic Surprise Index 18.90 -2.2 points
- Citi Emerging Markets Economic Surprise Index 24.8 +4.0 points
- 10-Year TIPS Spread 1.61 -2.0 basis points
- 38.0% chance of Fed April 29th meeting, 57.4% chance of cut at June 10th meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating -76 open in Japan
- China A50 Futures: Indicating -135 open in China
- DAX Futures: Indicating -15 open in Germany
Portfolio:
- Slightly Higher: On gains in my tech/biotech/retail/medical sector longs
- Disclosed Trades: None
- Market Exposure: 50% Net Long
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