Broad Equity Market Tone:
- Advance/Decline Line: Substantially Lower
- Sector Performance: Most Sectors Declining
- Volume: Above Average
- Market Leading Stocks: Performing In Line
Equity Investor Angst:
- Volatility(VIX) 18.31 +16.1%
- Euro/Yen Carry Return Index 136.92 -.20%
- Emerging Markets Currency Volatility(VXY) 8.10 -.49%
- S&P 500 Implied Correlation 40.08 +11.7%
- ISE Sentiment Index 48.0 -38.46%
- Total Put/Call 1.0 +8.7%
- NYSE Arms 1.44 +85.45%
Credit Investor Angst:
- North American Investment Grade CDS Index 54.45 +1.35%
- America Energy Sector High-Yield CDS Index 366.0 +.77%
- European Financial Sector CDS Index 53.29 -2.26%
- Italian/German 10Y Yld Spread 132.75 -3.75 basis points
- Asia Pacific Sovereign Debt CDS Index 12.65 -.35%
- Emerging Market CDS Index 119.81 +2.78%
- iBoxx Offshore RMB China Corporate High Yield Index 147.82 -.04%
- 2-Year Swap Spread 28.25 +1.5 basis points
- TED Spread 30.0 -2.25 basis points
- 3-Month EUR/USD Cross-Currency Basis Swap -31.25 -.25 basis point
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 75.42 -.60%
- 3-Month T-Bill Yield 1.65% +1.0 basis point
- Yield Curve 64.25 +1.25 basis points
- China Iron Ore Spot 78.17 USD/Metric Tonne -.56%
- Citi US Economic Surprise Index 33.50 -4.2 points
- Citi Eurozone Economic Surprise Index 4.90 +5.2 points
- Citi Emerging Markets Economic Surprise Index 7.20 +2.8 points
- 10-Year TIPS Spread 2.13 -1.0 basis point
- 100.0% chance of Fed rate hike at May 2 meeting, 100.0% chance at June 13 meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating -139 open in Japan
- China A50 Futures: Indicating -78 open in China
- DAX Futures: Indicating -38 open in Germany
Portfolio:
- Slightly Lower: On losses in my biotech/industrial/retail sector longs
- Disclosed Trades: Added to my (IWM)/(QQQ) hedges and to my emerging markets shorts
- Market Exposure: Moved to 50% Net Long
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