Broad Equity Market Tone:
- Advance/Decline Line: Higher
- Sector Performance: Mixed
- Volume: Above Average
- Market Leading Stocks: Outperforming
Equity Investor Angst:
- Volatility(VIX) 37.05 -10.5%
- Euro/Yen Carry Return Index 120.26 -.01%
- Emerging Markets Currency Volatility(VXY) 11.4 -2.4%
- S&P 500 Implied Correlation 76.15 -3.92%
- ISE Sentiment Index 71.0 -37.0 points
- Total Put/Call 1.08 +24.1%
- NYSE Arms 1.32 +54.7%
Credit Investor Angst:
- North American Investment Grade CDS Index 92.82 -1.02%
- America Energy Sector High-Yield CDS Index 884.0 -34.3%
- European Financial Sector CDS Index 109.99 +5.62%
- Italian/German 10Y Yld Spread 231.25 -9.75 basis points
- Asia Ex-Japan Investment Grade CDS Index 124.95 +1.03%
- Emerging Market CDS Index 367.61 +2.78%
- iBoxx Offshore RMB China Corporate High Yield Index 165.15 -.11%
- 2-Year Swap Spread 16.5 -1.0 basis point
- TED Spread 92.0 -2.0 basis points
- 3-Month EUR/USD Cross-Currency Basis Swap 30.5 -5.5 basis points
- MBS 5/10 Treasury Spread 129.0 +1.0 basis point
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 57.51 -.40%
- 3-Month T-Bill Yield .10% +2.0 basis points
- Yield Curve 37.0 -3.0 basis points
- China Iron Ore Spot 80.89 USD/Metric Tonne -.57%
- Citi US Economic Surprise Index -101.80 +31.5 points
- Citi Eurozone Economic Surprise Index -219.70 -17.5 points
- Citi Emerging Markets Economic Surprise Index -.2 +2.3 points
- 10-Year TIPS Spread 1.11 +6.0 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 +208 open in Japan
- China A50 Futures: Indicating +38 open in China
- DAX Futures: Indicating +85 open in Germany
Portfolio:
- Higher: On gains in my biotech/tech/industrial/medical/consumer staple sector longs
- Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges and some of my emerging market shorts
- Market Exposure: Moved to 75% Net Long
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