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) 11.53 -1.95%
- Euro/Yen Carry Return Index 127.53 +.56%
- Emerging Markets Currency Volatility(VXY) 10.67 -.93%
- S&P 500 Implied Correlation 46.52 -3.24%
- ISE Sentiment Index 99.0 +16.5%
- Total Put/Call .85 -8.6%
- NYSE Arms 1.01 -43.41%
Credit Investor Angst:
- North American Investment Grade CDS Index 65.44 -1.36%
- America Energy Sector High-Yield CDS Index 431.0 -8.5%
- European Financial Sector CDS Index 85.07 -2.35%
- Western Europe Sovereign Debt CDS Index 20.44 +8.6%
- Asia Pacific Sovereign Debt CDS Index 33.28 -1.93%
- Emerging Market CDS Index 236.35 -.56%
- iBoxx Offshore RMB China Corporate High Yield Index 133.26 +.03%
- 2-Year Swap Spread 30.75 -2.5 basis points
- TED Spread 53.50 -1.5 basis points
- 3-Month EUR/USD Cross-Currency Basis Swap -37.25 +2.75 basis points
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 70.51 -.03%
- 3-Month T-Bill Yield .50% +2.0 basis points
- Yield Curve 127.0 +1.0 basis point
- China Import Iron Ore Spot $82.69/Metric Tonne +1.92%
- Citi US Economic Surprise Index 44.40 +10.2 points
- Citi Eurozone Economic Surprise Index 58.20 +.3 basis point
- Citi Emerging Markets Economic Surprise Index 39.60 +2.3 points
- 10-Year TIPS Spread 2.05 +3.0 basis points
- 33.1% chance of Fed rate hike at March 15 meeting, 49.4% chance at May 3 meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating +300 open in Japan
- China A50 Futures: Indicating +8 open in China
- DAX Futures: Indicating +34 open in Germany
Portfolio:
- Higher: On gains in my in my retail/tech/medical sector longs
- Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges
- Market Exposure: Moved to 75% Net Long
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