Broad Equity Market Tone:
- Advance/Decline Line: Modestly Lower
- Sector Performance: Mixed
- Volume: Around Average
- Market Leading Stocks: Performing In Line
Equity Investor Angst:
- Volatility(VIX) 12.84 -2.28%
- Euro/Yen Carry Return Index 129.10 -.7%
- Emerging Markets Currency Volatility(VXY) 8.49 +2.54%
- S&P 500 Implied Correlation 35.1 -1.46%
- ISE Sentiment Index 94.0 +42.42%
- Total Put/Call .85 -2.3%
- NYSE Arms 1.03 -31.8%
Credit Investor Angst:
- North American Investment Grade CDS Index 58.30 +.85%
- America Energy Sector High-Yield CDS Index 443.0 -.05%
- European Financial Sector CDS Index 73.29 +3.23%
- Italian/German 10Y Yld Spread 269.75 +5.0 basis points
- Asia Ex-Japan Investment Grade CDS Index 65.03 +1.95%
- Emerging Market CDS Index 194.42 -1.24%
- iBoxx Offshore RMB China Corporate High Yield Index 161.74 +.03%
- 2-Year Swap Spread 10.25 +1.0 basis point
- TED Spread 16.0 unch.
- 3-Month EUR/USD Cross-Currency Basis Swap -17.0 -1.0 basis point
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 66.39 -.27%
- 3-Month T-Bill Yield 2.42% unch.
- Yield Curve 20.75 +.5 basis point
- China Iron Ore Spot 88.68 USD/Metric Tonne +.50%
- Citi US Economic Surprise Index -68.80 -3.0 points
- Citi Eurozone Economic Surprise Index -39.10 -.2 point
- Citi Emerging Markets Economic Surprise Index -5.2 -6.1 points
- 10-Year TIPS Spread 1.98 +2.0 basis points
- 21.8% chance of Fed rate cut at June 19th meeting, 28.2% chance of cut at July 31st meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating -62 open in Japan
- China A50 Futures: Indicating -147 open in China
- DAX Futures: Indicating +45 open in Germany
Portfolio:
- Slightly Higher: On gains in my tech/medical/biotech sector longs
- Disclosed Trades: None
- Market Exposure: 100% Net Long
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