Broad Equity Market Tone:
- Advance/Decline Line: Slightly Higher
- Sector Performance: Mixed
- Volume: Below Average
- Market Leading Stocks: Performing In Line
Equity Investor Angst:
- Volatility(VIX) 19.92 -3.86%
- Euro/Yen Carry Return Index 130.21 +.84%
- Emerging Markets Currency Volatility(VXY) 12.15 -1.22%
- S&P 500 Implied Correlation 60.17 -3.51%
- ISE Sentiment Index 144.0 +61.80%
- Total Put/Call .87 -16.35%
- NYSE Arms 1.0 -27.78%
Credit Investor Angst:
- North American Investment Grade CDS Index 113.04 -.85%
- America Energy Sector High-Yield CDS Index 2,303.0 -1.18%
- European Financial Sector CDS Index 121.22 -1.35%
- Western Europe Sovereign Debt CDS Index 32.82 +.06%
- Asia Pacific Sovereign Debt CDS Index 76.82 -1.11%
- Emerging Market CDS Index 364.82 -.33%
- iBoxx Offshore RMB China Corporate High Yield Index 123.81 +.09%
- 2-Year Swap Spread 5.0 +.25 basis point
- TED Spread 31.0 +.5 basis point
- 3-Month EUR/USD Cross-Currency Basis Swap -23.25 +.75 basis point
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 68.71 +.26%
- 3-Month T-Bill Yield .32% -1.0 basis point
- Yield Curve 98.0 -1.0 basis point
- China Import Iron Ore Spot $49.75/Metric Tonne -3.66%
- Citi US Economic Surprise Index -30.70 +7.9 points
- Citi Eurozone Economic Surprise Index -53.30 +1.0 point
- Citi Emerging Markets Economic Surprise Index -9.10 -.4 point
- 10-Year TIPS Spread 1.40% +3.0 basis points
- 17.2% chance of Fed rate hike at April 27 meeting, 23.8% chance at June 15 meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating +25 open in Japan
- China A50 Futures: Indicating +21 open in China
- DAX Futures: Indicating +21 open in Germany
Portfolio:
- Higher: On gains in my tech/medical/retail sector longs
- Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges
- Market Exposure: Moved to 75% Net Long
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