Broad Equity Market Tone:
- Advance/Decline Line: Lower
- Sector Performance: Mixed
- Volume: Around Average
- Market Leading Stocks: Outperforming
Equity Investor Angst:
- Volatility(VIX) 12.53 +2.87%
- Euro/Yen Carry Return Index 131.57 +.2%
- Emerging Markets Currency Volatility(VXY) 8.23 +.61%
- S&P 500 Implied Correlation 35.68 +.93%
- ISE Sentiment Index 99.0 +7.61%
- Total Put/Call .80 -13.0%
- NYSE Arms .97 +3.19%
Credit Investor Angst:
- North American Investment Grade CDS Index 57.40 +.45%
- America Energy Sector High-Yield CDS Index 501.0 +.22%
- European Financial Sector CDS Index 69.12 -1.29%
- Italian/German 10Y Yld Spread 253.25 +.5 basis point
- Asia Ex-Japan Investment Grade CDS Index 62.71 -1.61%
- Emerging Market CDS Index 174.58 -1.02%
- iBoxx Offshore RMB China Corporate High Yield Index 161.40 +.04%
- 2-Year Swap Spread 9.75 -.25 basis point
- TED Spread 17.5 -2.25 basis points
- 3-Month EUR/USD Cross-Currency Basis Swap -16.25 -1.75 basis points
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 67.51 +.13%
- 3-Month T-Bill Yield 2.43% +1.0 basis point
- Yield Curve 19.25 +1.25 basis points
- China Iron Ore Spot 89.40 USD/Metric Tonne -.95%
- Citi US Economic Surprise Index -62.60 +.6 point
- Citi Eurozone Economic Surprise Index -41.10 +.7 point
- Citi Emerging Markets Economic Surprise Index 4.90 +9.0 points
- 10-Year TIPS Spread 1.95 -1.0 basis point
- 6.2% chance of Fed rate cut at June 19th meeting, 10.2% chance of cut at July 31st meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating +22 open in Japan
- China A50 Futures: Indicating +3 open in China
- DAX Futures: Indicating +49 open in Germany
Portfolio:
- Slightly Higher: On gains in my industrial/tech/retail sector longs
- Disclosed Trades: None
- Market Exposure: 100% Net Long
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