Broad Equity Market Tone:
- Advance/Decline Line: Substantially Higher
- Sector Performance: Every Sector Rising
- Volume: Heavy
- Market Leading Stocks: Performing In Line
Equity Investor Angst:
- Volatility(VIX) 42.5 -1.9%
- Euro/Yen Carry Return Index 122.04 +.34%
- Emerging Markets Currency Volatility(VXY) 11.6 -3.1%
- S&P 500 Implied Correlation 76.90 -.84%
- ISE Sentiment Index 50.0 -37.0 points
- Total Put/Call .97 -5.8%
- NYSE Arms 1.13 +113.0%
Credit Investor Angst:
- North American Investment Grade CDS Index 86.66 -18.6%
- America Energy Sector High-Yield CDS Index 1,327.0 +9.36%
- European Financial Sector CDS Index 93.11 -14.94%
- Italian/German 10Y Yld Spread 193.75 -2.0 basis points
- Asia Ex-Japan Investment Grade CDS Index 132.60 -3.41%
- Emerging Market CDS Index 301.17 -11.1%
- iBoxx Offshore RMB China Corporate High Yield Index 157.34 +.31%
- 2-Year Swap Spread 23.25 -2.5 basis points
- TED Spread 110.0 -7.0 basis points
- 3-Month EUR/USD Cross-Currency Basis Swap 38.0 -5.75 basis points
- MBS 5/10 Treasury Spread 113.0-4.0 basis points
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 59.21 +.98%
- 3-Month T-Bill Yield .19% +1.0 basis point
- Yield Curve .49 -1.0 basis point
- China Iron Ore Spot 82.41 USD/Metric Tonne +.81%
- Citi US Economic Surprise Index -67.7 -25.2 points
- Citi Eurozone Economic Surprise Index -64.70 +2.9 points
- Citi Emerging Markets Economic Surprise Index 1.70 +1.3 points
- 10-Year TIPS Spread 1.24 +5.0 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 +245 open in Japan
- China A50 Futures: Indicating -3 open in China
- DAX Futures: Indicating +27 open in Germany
Portfolio:
- Higher: On gains in my consumer staple/industrial/tech/medical sector longs
- Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges, then added them back
- Market Exposure: 50% Net Long
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