Broad Equity Market Tone:
- Advance/Decline Line: Higher
- Sector Performance: Almost Every Sector Rising
- Volume: Above Average
- Market Leading Stocks: Performing In Line
Equity Investor Angst:
- Volatility(VIX) 10.16 +2.8%
- Euro/Yen Carry Return Index 140.78 +.92%
- Emerging Markets Currency Volatility(VXY) 7.53 +1.07%
- S&P 500 Implied Correlation 31.71 -8.81%
- ISE Sentiment Index 107.0 -2.73
- Total Put/Call .72 unch.
- NYSE Arms .61 -11.1%
Credit Investor Angst:
- North American Investment Grade CDS Index 46.63 -.43%
- America Energy Sector High-Yield CDS Index 321.0 -2.57%
- European Financial Sector CDS Index 42.58 -1.09%
- Italian/German 10Y Yld Spread 140.25 -6.75 basis points
- Asia Pacific Sovereign Debt CDS Index 10.13 -2.83%
- Emerging Market CDS Index 109.48 -1.12%
- iBoxx Offshore RMB China Corporate High Yield Index 146.44 -.08%
- 2-Year Swap Spread 19.25 +.25 basis point
- TED Spread 28.0 -.5 basis point
- 3-Month EUR/USD Cross-Currency Basis Swap -23.0 +3.25 basis points
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 75.52 +.47%
- 3-Month T-Bill Yield 1.44% +1.0 basis point
- Yield Curve 55.0 -.75 basis point
- China Iron Ore Spot 511.50 CNY/100 Metric Tonnes -.2%
- Citi US Economic Surprise Index 70.40 +7.2 points
- Citi Eurozone Economic Surprise Index 58.30 -1.4 basis points
- Citi Emerging Markets Economic Surprise Index 6.4 +6.6 basis points
- 10-Year TIPS Spread 2.02 unch.
- 85.2% chance of Fed rate hike at March 21 meeting, 85.6% chance at May 2 meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating +157 open in Japan
- China A50 Futures: Indicating +76 open in China
- DAX Futures: Indicating -8 open in Germany
Portfolio:
- Higher: On gains in my medical/biotech/retail/tech sector longs
- Disclosed Trades: None
- Market Exposure: 100% Net Long
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