Broad Equity Market Tone:
- Advance/Decline Line: Higher
- Sector Performance: Mixed
- Volume: Around Average
- Market Leading Stocks: Outperforming
Equity Investor Angst:
- Volatility(VIX) 14.15 +4.7%
- Euro/Yen Carry Return Index 131.20 +.66%
- Emerging Markets Currency Volatility(VXY) 8.65 +.35%
- S&P 500 Implied Correlation 38.41 -.26%
- ISE Sentiment Index 96.0 -36.4%
- Total Put/Call .72 -6.49%
- NYSE Arms .81 -41.7%
Credit Investor Angst:
- North American Investment Grade CDS Index 59.88 -2.67%
- America Energy Sector High-Yield CDS Index 539.0 -.04%
- European Financial Sector CDS Index 78.0 -5.69%
- Italian/German 10Y Yld Spread 266.5 -8.75 basis points
- Asia Ex-Japan Investment Grade CDS Index 70.35 -1.69%
- Emerging Market CDS Index 166.86 -2.88%
- iBoxx Offshore RMB China Corporate High Yield Index 158.27 +.02%
- 2-Year Swap Spread 8.75 -1.5 basis points
- TED Spread 20.75 -2.0 basis points
- 3-Month EUR/USD Cross-Currency Basis Swap -7.25 -1.25 basis points.
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 68.38 +.24%
- 3-Month T-Bill Yield 2.44% unch.
- Yield Curve 16.0 unch.
- China Iron Ore Spot 82.45 USD/Metric Tonne +.06%
- Citi US Economic Surprise Index -23.40 unch.
- Citi Eurozone Economic Surprise Index -62.0 +2.0 points
- Citi Emerging Markets Economic Surprise Index -8.30 -.3 point
- 10-Year TIPS Spread 1.93 +1.0 basis point
- 1.6% chance of Fed rate hike at May 1st meeting, 1.6% chance at June 19th meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating +50 open in Japan
- China A50 Futures: Indicating +45 open in China
- DAX Futures: Indicating -19 open in Germany
Portfolio:
- Higher: On gains in my medical/biotech/industrial/tech sector longs
- Disclosed Trades: Added to my (IWM)/(QQQ) hedges
- Market Exposure: Moved to 75% Net Long
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