Broad Equity Market Tone:
- Advance/Decline Line: Substantially Lower
- Sector Performance: Almost Every Sector Declining
- Volume: Above Average
- Market Leading Stocks: Performing In Line
Equity Investor Angst:
- Volatility(VIX) 41.0 +8.6%
- Euro/Yen Carry Return Index 121.70 -.36%
- Emerging Markets Currency Volatility(VXY) 11.33 +2.44%
- S&P 500 Implied Correlation 80.0 +8.0%
- ISE Sentiment Index 52.0 +6.0 points
- Total Put/Call 1.02 +3.0%
- NYSE Arms 1.54 -11.2%
Credit Investor Angst:
- North American Investment Grade CDS Index 86.07 +4.5%
- America Energy Sector High-Yield CDS Index 1,100.0 +.19%
- European Financial Sector CDS Index 104.48 +11.2%
- Italian/German 10Y Yld Spread 235.0 +26.25 basis points
- Asia Ex-Japan Investment Grade CDS Index 118.13 +.24%
- Emerging Market CDS Index 339.64 +8.69%
- iBoxx Offshore RMB China Corporate High Yield Index 159.99 +1.09%
- 2-Year Swap Spread 21.0 unch.
- TED Spread 110.0 +5.0 basis points
- 3-Month EUR/USD Cross-Currency Basis Swap 47.0 +.25 basis point
- MBS 5/10 Treasury Spread 127.0 +3.0 basis points
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 58.49 -1.02%
- 3-Month T-Bill Yield .13% -3.0 basis points
- Yield Curve 52.25 +1.0 basis point
- China Iron Ore Spot 82.50 USD/Metric Tonne -1.23%
- Citi US Economic Surprise Index -126.50 -42.4 points
- Citi Eurozone Economic Surprise Index -61.50 +.1 point
- Citi Emerging Markets Economic Surprise Index 13.10 +1.1 points
- 10-Year TIPS Spread 1.20 -9.0 basis points
- n/a chance of no change at April 29th meeting, n/a chance of no change at June 10th meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating -165 open in Japan
- China A50 Futures: Indicating -203 open in China
- DAX Futures: Indicating +29 open in Germany
Portfolio:
- Slightly Lower: On losses in my tech/biotech/medical/industrial sector longs
- Disclosed Trades: None
- Market Exposure: 50% Net Long
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