Broad Equity Market Tone:
- Advance/Decline Line: Modestly Higher
- Sector Performance: Mixed
- Volume: Around Average
- Market Leading Stocks: Outperforming
Equity Investor Angst:
- Volatility(VIX) 12.3 +1.3%
- Euro/Yen Carry Return Index 126.70 -.01%
- Emerging Markets Currency Volatility(VXY) 6.47 +.31%
- S&P 500 Implied Correlation 40.70 -2.16%
- ISE Sentiment Index 132.0 +30
- Total Put/Call .59 -33.7%
- NYSE Arms 1.01 +20.2%
Credit Investor Angst:
- North American Investment Grade CDS Index 45.83 -1.31%
- America Energy Sector High-Yield CDS Index 578.0 -2.48%
- European Financial Sector CDS Index 52.43 +.82%
- Italian/German 10Y Yld Spread 156.75 -.5 basis point
- Asia Ex-Japan Investment Grade CDS Index 57.58 -2.99%
- Emerging Market CDS Index 180.87 -.57%
- iBoxx Offshore RMB China Corporate High Yield Index 166.93 +.19%
- 2-Year Swap Spread 5.75 +1.25 basis points
- TED Spread 35.25 +1.0 basis point
- 3-Month EUR/USD Cross-Currency Basis Swap -17.0 -.25 basis point
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 66.31 unch.
- 3-Month T-Bill Yield 1.55% -1.0 basis point
- Yield Curve .23 +2.0 basis points
- China Iron Ore Spot 91.99 USD/Metric Tonne -.04%
- Citi US Economic Surprise Index -3.90 +7.2 basis points
- Citi Eurozone Economic Surprise Index .7 +2.0 points
- Citi Emerging Markets Economic Surprise Index -17.3 +.4 basis point
- 10-Year TIPS Spread 1.76 +4.0 basis points
- 8.1% chance of Fed rate cut at March 18th meeting, 18.6% chance of cut at April 29th meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating -21 open in Japan
- China A50 Futures: Indicating +27 open in China
- DAX Futures: Indicating +3 open in Germany
Portfolio:
- Higher: On gains in my tech/medical/retail sector longs
- Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges
- Market Exposure: Moved to 100% Net Long
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