Broad Equity Market Tone:
- Advance/Decline Line: Substantially Higher
- Sector Performance: Almost Every Sector Rising
- Volume: Around Average
- Market Leading Stocks: Outperforming
Equity Investor Angst:
- Volatility(VIX) 22.24 -4.57%
- Euro/Yen Carry Return Index 132.66 -.71%
- Emerging Markets Currency Volatility(VXY) 12.85 -1.0%
- S&P 500 Implied Correlation 63.83 -2.37%
- ISE Sentiment Index 173.0 +53.10%
- Total Put/Call .88 -2.22%
- NYSE Arms .96 +57.98%
Credit Investor Angst:
- North American Investment Grade CDS Index 121.01 -.37%
- America Energy Sector High-Yield CDS Index 2,346.0 -.55%
- European Financial Sector CDS Index 122.25 +.72%
- Western Europe Sovereign Debt CDS Index 33.40 +1.95%
- Asia Pacific Sovereign Debt CDS Index 79.03 -.43%
- Emerging Market CDS Index 3879.84 -1.98%
- iBoxx Offshore RMB China Corporate High Yield Index 123.06 +.15%
- 2-Year Swap Spread 5.5 -2.25 basis points
- TED Spread 33.75 unch.
- 3-Month EUR/USD Cross-Currency Basis Swap -22.75 -.5 basis point
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 68.10 -.63%
- 3-Month T-Bill Yield .28% unch.
- Yield Curve 106.0 unch.
- China Import Iron Ore Spot $46.78/Metric Tonne +1.12%
- Citi US Economic Surprise Index -46.9 +1.4 points
- Citi Eurozone Economic Surprise Index -30.80 +1.0 point
- Citi Emerging Markets Economic Surprise Index -7.0 -2.2 points
- 10-Year TIPS Spread 1.26% -1.0 basis point
- 5.9% chance of Fed rate hike at April 27 meeting, 11.6% chance at June 15 meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating -174 open in Japan
- China A50 Futures: Indicating -73 open in China
- DAX Futures: Indicating +29 open in Germany
Portfolio:
- Higher: On gains in my tech/biotech/medical/retail sector longs
- Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges and some of my (EEM) short
- Market Exposure: Moved to 75% Net Long
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