Broad Equity Market Tone:
- Advance/Decline Line: Substantially Higher
- Sector Performance: Almost Every Sector Rising
- Volume: Below Average
- Market Leading Stocks: Outperforming
Equity Investor Angst:
- Volatility(VIX) 12.9 -4.9%
- Euro/Yen Carry Return Index 130.18 +.03%
- Emerging Markets Currency Volatility(VXY) 8.31 -1.54%
- S&P 500 Implied Correlation 35.35 -1.52%
- ISE Sentiment Index 72.0 -34.6%
- Total Put/Call .79 -2.47%
- NYSE Arms 1.04 +49.3%
Credit Investor Angst:
- North American Investment Grade CDS Index 60.49 -1.36%
- America Energy Sector High-Yield CDS Index 527.0 +2.71%
- European Financial Sector CDS Index 74.32 -4.02%
- Italian/German 10Y Yld Spread 247.25 +5.25 basis points
- Asia Ex-Japan Investment Grade CDS Index 66.59 +.02%
- Emerging Market CDS Index 171.11 -1.13%
- iBoxx Offshore RMB China Corporate High Yield Index 161.02 +.02%
- 2-Year Swap Spread 10.5 unch.
- TED Spread 18.25 -.5 basis point
- 3-Month EUR/USD Cross-Currency Basis Swap -14.75 -.5 basis point
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 67.48 +.01%
- 3-Month T-Bill Yield 2.42% unch.
- Yield Curve 15.75 -1.75 basis points
- China Iron Ore Spot 92.42 USD/Metric Tonne +1.78%
- Citi US Economic Surprise Index -53.10 +2.0 points
- Citi Eurozone Economic Surprise Index -59.10 +1.8 points
- Citi Emerging Markets Economic Surprise Index -11.30 +.3 point
- 10-Year TIPS Spread 1.91 unch.
- 11.8% chance of Fed rate cut at June 19th meeting, 17.4% chance of cut at July 31st meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating +53 open in Japan
- China A50 Futures: Indicating +195 open in China
- DAX Futures: Indicating +11 open in Germany
Portfolio:
- Higher: On gains in my medical/biotech/tech/industrial sector longs
- Disclosed Trades: None
- Market Exposure: 100% Net Long
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