Broad Equity Market Tone:
- Advance/Decline Line: Higher
- Sector Performance: Most Sectors Rising
- Volume: Above Average
- Market Leading Stocks: Performing In Line
Equity Investor Angst:
- Volatility(VIX) 14.8 -1.6%
- Euro/Yen Carry Return Index 124.37 +.08%
- Emerging Markets Currency Volatility(VXY) 6.80 -1.2%
- S&P 500 Implied Correlation 36.77 -.05%
- ISE Sentiment Index 142.0 +45
- Total Put/Call .66 -23.3%
- NYSE Arms .84 -39.1%
Credit Investor Angst:
- North American Investment Grade CDS Index 44.75 -1.14%
- America Energy Sector High-Yield CDS Index 647.0 +3.17%
- European Financial Sector CDS Index 48.81 -1.58%
- Italian/German 10Y Yld Spread 136.0 -.25 basis point
- Asia Ex-Japan Investment Grade CDS Index 50.64 -2.6%
- Emerging Market CDS Index 192.70 -.67%
- iBoxx Offshore RMB China Corporate High Yield Index 169.85 unch.
- 2-Year Swap Spread 3.0 -.75 basis point
- TED Spread 18.25 -1.25 basis points
- 3-Month EUR/USD Cross-Currency Basis Swap -6.75 +.5 basis point
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 65.15 +.37%
- 3-Month T-Bill Yield 1.56% unch.
- Yield Curve .18 unch.
- China Iron Ore Spot 83.80 USD/Metric Tonne +4.41%
- Citi US Economic Surprise Index 45.20 -1.0 point
- Citi Eurozone Economic Surprise Index -17.4 -.9 point
- Citi Emerging Markets Economic Surprise Index 26.1 +1.5 points
- 10-Year TIPS Spread 1.65 unch.
- 24.9% chance of Fed April 29th meeting, 43.2% chance of cut at June 10th meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating +209 open in Japan
- China A50 Futures: Indicating -21 open in China
- DAX Futures: Indicating -11 open in Germany
Portfolio:
- Slightly Higher: On gains in my tech/industrial/retail/medical sector longs
- Disclosed Trades: Added to my (IWM)/(QQQ) hedges
- Market Exposure: Moved to 50% Net Long
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