Broad Equity Market Tone:
- Advance/Decline Line: Lower
- Sector Performance: Most Sectors Declining
- Volume: Around Average
- Market Leading Stocks: Performing In Line
Equity Investor Angst:
- Volatility(VIX) 14.8 +8.0%
- Euro/Yen Carry Return Index 123.06 -.39%
- Emerging Markets Currency Volatility(VXY) 6.52 +1.4%
- S&P 500 Implied Correlation 37.89 +6.10%
- ISE Sentiment Index 113.0 +31
- Total Put/Call .79 -3.7%
- NYSE Arms 1.17 -18.18%
Credit Investor Angst:
- North American Investment Grade CDS Index 44.6 +.83%
- America Energy Sector High-Yield CDS Index 634.0 +.44%
- European Financial Sector CDS Index 47.13 +1.04%
- Italian/German 10Y Yld Spread 132.25 +3.0 basis points
- Asia Ex-Japan Investment Grade CDS Index 49.18 -1.12%
- Emerging Market CDS Index 189.66 -2.32%
- iBoxx Offshore RMB China Corporate High Yield Index 170.48 +.06%
- 2-Year Swap Spread 2.25 -.5 basis point
- TED Spread 12.75 +.75 basis point
- 3-Month EUR/USD Cross-Currency Basis Swap -10.75 -2.25 basis points
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 64.79 -.37%
- 3-Month T-Bill Yield 1.57% unch.
- Yield Curve .15 -2.0 basis points
- China Iron Ore Spot 86.22 USD/Metric Tonne +1.32%
- Citi US Economic Surprise Index 44.80 -.5 point
- Citi Eurozone Economic Surprise Index -29.9 -7.6 points
- Citi Emerging Markets Economic Surprise Index 20.7 -1.4 points
- 10-Year TIPS Spread 1.67 unch.
- 28.4% chance of Fed April 29th meeting, 49.4% chance of cut at June 10th meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating +6 open in Japan
- China A50 Futures: Indicating -79 open in China
- DAX Futures: Indicating -21 open in Germany
Portfolio:
- Higher: On gains in my tech/retail sector longs and emerging market shorts
- Disclosed Trades: None
- Market Exposure: 50% Net Long
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