Broad Equity Market Tone:
- Advance/Decline Line: Lower
- Sector Performance: Mixed
- Volume: Above Average
- Market Leading Stocks: Performing In Line
Equity Investor Angst:
- Volatility(VIX) 19.17 +3.2%
- Euro/Yen Carry Return Index 135.51 -.93%
- Emerging Markets Currency Volatility(VXY) 8.04 -.25%
- S&P 500 Implied Correlation 39.96 -.79%
- ISE Sentiment Index 71.0 +14.52%
- Total Put/Call 1.0 +8.7%
- NYSE Arms 1.17 -45.5%
Credit Investor Angst:
- North American Investment Grade CDS Index 55.27 +.80%
- America Energy Sector High-Yield CDS Index 371.0 +1.45%
- European Financial Sector CDS Index 52.85 -.84%
- Italian/German 10Y Yld Spread 131.75 -1.0 basis point
- Asia Pacific Sovereign Debt CDS Index 12.13 -3.88%
- Emerging Market CDS Index 121.24 +.05%
- iBoxx Offshore RMB China Corporate High Yield Index 147.91 +.07%
- 2-Year Swap Spread 28.5 +.25 basis point
- TED Spread 33.0 +3.0 basis points
- 3-Month EUR/USD Cross-Currency Basis Swap -33.5 -2.25 basis points
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 75.28 -.17%
- 3-Month T-Bill Yield 1.66% +1.0 basis point
- Yield Curve 61.25 -3.0 basis points
- China Iron Ore Spot 77.38 USD/Metric Tonne +.48%
- Citi US Economic Surprise Index 32.90 -.6 point
- Citi Eurozone Economic Surprise Index 2.40 -2.5 points
- Citi Emerging Markets Economic Surprise Index 7.90 +.7 point
- 10-Year TIPS Spread 2.12 -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 -103 open in Japan
- China A50 Futures: Indicating -36 open in China
- DAX Futures: Indicating -45 open in Germany
Portfolio:
- Slightly Lower: On losses in my biotech/industrial sector longs
- Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges, then added them back
- Market Exposure: 50% Net Long
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