Broad Equity Market Tone:
- Advance/Decline Line: Higher
- Sector Performance: Almost Every Sector Rising
- Volume: Above Average
- Market Leading Stocks: Outperforming
Equity Investor Angst:
- Volatility(VIX) 20.0 -2.3%
- Euro/Yen Carry Return Index 129.92 +.47%
- Emerging Markets Currency Volatility(VXY) 9.54 +1.17%
- S&P 500 Implied Correlation 48.47 -2.1%
- ISE Sentiment Index 100.0 +69.5%
- Total Put/Call .94 unch.
- NYSE Arms .60 -53.1%
Credit Investor Angst:
- North American Investment Grade CDS Index 78.55 -.5%
- America Energy Sector High-Yield CDS Index 733.0 -3.33%
- European Financial Sector CDS Index 106.0 -3.13%
- Italian/German 10Y Yld Spread 260.0 -12.75 basis points
- Asia Ex-Japan Investment Grade CDS Index 90.35 -2.67%
- Emerging Market CDS Index 190.56 -1.62%
- iBoxx Offshore RMB China Corporate High Yield Index 153.53 -.03%
- 2-Year Swap Spread 14.5 +1.25 basis point
- TED Spread 36.0 -3.25 basis points
- 3-Month EUR/USD Cross-Currency Basis Swap 4.75 +3.25 basis point
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 68.0 +.44%
- 3-Month T-Bill Yield 2.44% unch.
- Yield Curve 16.75 +3.25 basis points
- China Iron Ore Spot 72.24 USD/Metric Tonne -.56%
- Citi US Economic Surprise Index -8.50 +.5 point
- Citi Eurozone Economic Surprise Index -84.2 +.7 point
- Citi Emerging Markets Economic Surprise Index -15.3 -.3 point
- 10-Year TIPS Spread 1.83 +1.0 basis point
- 4.7% chance of Fed rate hike at March 20th meeting, 10.6% chance at May 1st meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating -47 open in Japan
- China A50 Futures: Indicating +91 open in China
- DAX Futures: Indicating +13 open in Germany
Portfolio:
- Higher: On gains in my tech/retail/industrial/biotech/medical sector longs
- Disclosed Trades: Added to my (IWM)/(QQQ) hedges, then covered some
- Market Exposure: 100% Net Long
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