Broad Equity Market Tone:
- Advance/Decline Line: Higher
- Sector Performance: Mixed
- Volume: Below Average
- Market Leading Stocks: Performing In Line
Equity Investor Angst:
- Volatility(VIX) 17.0 -1.1%
- Bloomberg Global Risk On/Risk Off Index 3,125.0 +23.0 points
- Euro/Yen Carry Return Index 134.56 -.18%
- Emerging Markets Currency Volatility(VXY) 10.6 -.66%
- S&P 500 Implied Correlation 48.2 +.6%
- ISE Sentiment Index 115.0 -10.0 points
- Total Put/Call .60 -25.0%
- NYSE Arms 1.50 +42.9%
Credit Investor Angst:
- North American Investment Grade CDS Index 51.30 -.92%
- US Energy High-Yield OAS 456.39 +.15%
- European Financial Sector CDS Index 57.87 -1.72%
- Italian/German 10Y Yld Spread 100.0 -1.0 basis point
- Asia Ex-Japan Investment Grade CDS Index 68.97 +2.6%
- Emerging Market CDS Index 176.91 -.7%
- iBoxx Offshore RMB China Corporate High Yield Index 189.22 unch.
- 2-Year Swap Spread 13.0 -.5 basis point
- TED Spread 19.0 unch.
- 3-Month EUR/USD Cross-Currency Basis Swap -1.75 -.25 basis point
- MBS 5/10 Treasury Spread 70.25 -1.75 basis points
- IHS Markit CMBX BBB- 6 73.25 -.25 basis point
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 60.79 +.36%
- 3-Month T-Bill Yield .01% unch.
- Yield Curve 151.0 +1.0 basis point
- China Iron Ore Spot 166.10 USD/Metric Tonne +2.66%
- Citi US Economic Surprise Index 37.80 -.9 point
- Citi Eurozone Economic Surprise Index 169.40 -1.1 points
- Citi Emerging Markets Economic Surprise Index 24.90 -.7 point
- 10-Year TIPS Spread 2.33 -1.0 basis point
- 100.0% chance of no change at June 16th meeting, 100.0% chance of no change at Sept. 22nd meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating -13 open in Japan
- China A50 Futures: Indicating -112 open in China
- DAX Futures: Indicating +23 open in Germany
Portfolio:
- Slightly Higher: On gains in my tech/medical/biotech sector longs
- Disclosed Trades: None
- Market Exposure: 100% Net Long
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