Broad Equity Market Tone:
- Advance/Decline Line: Substantially Higher
- Sector Performance: Almost Every Sector Rising
- Volume: Above Average
- Market Leading Stocks: Outperforming
Equity Investor Angst:
- Volatility(VIX) 21.23 -.7%
- Euro/Yen Carry Return Index 129.55 +.78%
- Emerging Markets Currency Volatility(VXY) 9.52 -.63%
- S&P 500 Implied Correlation 49.22 -2.22%
- ISE Sentiment Index 110.0 -13.4%
- Total Put/Call .91 unch.
- NYSE Arms .91 +139.4%
Credit Investor Angst:
- North American Investment Grade CDS Index 81.86 -3.91%
- America Energy Sector High-Yield CDS Index 786.0 -4.09%
- European Financial Sector CDS Index 111.47 -1.04%
- Italian/German 10Y Yld Spread 267.75 -1.25 basis points
- Asia Ex-Japan Investment Grade CDS Index 95.0 -2.8%
- Emerging Market CDS Index 190.98 -3.6%
- iBoxx Offshore RMB China Corporate High Yield Index 153.49 +.50%
- 2-Year Swap Spread 14.25 -1.25 basis points
- TED Spread 40.0 +.5 basis point
- 3-Month EUR/USD Cross-Currency Basis Swap 1.0 -.5 basis point
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 67.88 +.31%
- 3-Month T-Bill Yield 2.40% -1.0 basis point
- Yield Curve 16.0 -1.0 basis point
- China Iron Ore Spot 72.83 USD/Metric Tonne -.30%
- Citi US Economic Surprise Index -12.1 -.5 point
- Citi Eurozone Economic Surprise Index -70.5 +4.6 points
- Citi Emerging Markets Economic Surprise Index -13.80 +.2 point
- 10-Year TIPS Spread 1.78 +2.0 basis points
- 0.0% chance of Fed rate hike at March 20th meeting, 2.0% chance at May 1st meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating +207 open in Japan
- China A50 Futures: Indicating +57 open in China
- DAX Futures: Indicating +7 open in Germany
Portfolio:
- Higher: On gains in my tech/retail/industrial/biotech sector longs
- Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges
- Market Exposure: Moved to 100% Net Long
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