Broad Equity Market Tone:
- Advance/Decline Line: Substantially Higher
- Sector Performance: Most Sectors Rising
- Volume: Below Average
- Market Leading Stocks: Outperforming
Equity Investor Angst:
- Volatility(VIX) 18.7 -7.9%
- Euro/Yen Carry Return Index 137.65 +.09%
- Emerging Markets Currency Volatility(VXY) 8.39 -.59%
- S&P 500 Implied Correlation 47.1 -3.6%
- ISE Sentiment Index 101.0 -10.6%
- Total Put/Call 1.02 +7.4%
- NYSE Arms .71 -35.46%
Credit Investor Angst:
- North American Investment Grade CDS Index 62.08 -2.0%
- America Energy Sector High-Yield CDS Index 437.0 +.08%
- European Financial Sector CDS Index 59.13 -2.1%
- Italian/German 10Y Yld Spread 130.0 -.5 basis point
- Asia Pacific Sovereign Debt CDS Index 12.55 +.92%
- Emerging Market CDS Index 139.27 -1.33%
- iBoxx Offshore RMB China Corporate High Yield Index 149.11 +.16%
- 2-Year Swap Spread 31.0 +1.5 basis points
- TED Spread 61.0 unch.
- 3-Month EUR/USD Cross-Currency Basis Swap -7.75 -2.75 basis point
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 74.58 -.01%
- 3-Month T-Bill Yield 1.74% +1.0 basis point
- Yield Curve 48.0 unch.
- China Iron Ore Spot 64.28 USD/Metric Tonne +.31%
- Citi US Economic Surprise Index 28.30 -3.0 points
- Citi Eurozone Economic Surprise Index -89.20 -1.0 point
- Citi Emerging Markets Economic Surprise Index 17.6 -1.5 points
- 10-Year TIPS Spread 2.13 +2.0 basis points
- 87.2% chance of Fed rate hike at June 13 meeting, 87.9% chance at August 1 meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating +170 open in Japan
- China A50 Futures: Indicating +110 open in China
- DAX Futures: Indicating +7 open in Germany
Portfolio:
- Higher: On gains in my biotech/tech/industrial/medical sector longs
- Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges
- Market Exposure: Moved to 100% Net Long
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