Broad Equity Market Tone:
- Advance/Decline Line: Higher
- Sector Performance: Most Sectors Rising
- Volume: Above Average
- Market Leading Stocks: Performing In Line
Equity Investor Angst:
- Volatility(VIX) 13.9 -8.7%
- Euro/Yen Carry Return Index 124.16 -.15%
- Emerging Markets Currency Volatility(VXY) 6.74 -.88%
- S&P 500 Implied Correlation 36.22 -1.87%
- ISE Sentiment Index 103.0 -39
- Total Put/Call .69 -6.8%
- NYSE Arms .80 -9.09%
Credit Investor Angst:
- North American Investment Grade CDS Index 44.11 -1.89%
- America Energy Sector High-Yield CDS Index 630.0 -2.85%
- European Financial Sector CDS Index 47.30 -3.07%
- Italian/German 10Y Yld Spread 129.0 -7.0 basis points
- Asia Ex-Japan Investment Grade CDS Index 49.11 -3.01%
- Emerging Market CDS Index 192.15 -.72%
- iBoxx Offshore RMB China Corporate High Yield Index 169.88 +.02%
- 2-Year Swap Spread 4.25 +1.5 basis points
- TED Spread 14.25 -4.0 basis points
- 3-Month EUR/USD Cross-Currency Basis Swap -7.0 -.25 basis point
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 65.08 -.07%
- 3-Month T-Bill Yield 1.57%+1.0 basis point
- Yield Curve .18 unch.
- China Iron Ore Spot 85.92 USD/Metric Tonne +2.75%
- Citi US Economic Surprise Index 46.30 +1.1 points
- Citi Eurozone Economic Surprise Index -19.3 -1.9 points
- Citi Emerging Markets Economic Surprise Index 21.1 -5.0 points
- 10-Year TIPS Spread 1.67 +2.0 basis points
- 19.6% chance of Fed April 29th meeting, 37.2% chance of cut at June 10th meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating +109 open in Japan
- China A50 Futures: Indicating +24 open in China
- DAX Futures: Indicating +3 open in Germany
Portfolio:
- Higher: On gains in my tech/industrial/retail sector longs
- Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges
- Market Exposure: Moved to 75% Net Long
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