Broad Equity Market Tone:
- Advance/Decline Line: Lower
- Sector Performance: Mixed
- Volume: Above Average
- Market Leading Stocks: Performing In Line
Equity Investor Angst:
- Volatility(VIX) 41.2 +.8%
- Euro/Yen Carry Return Index 121.07 -.43%
- Emerging Markets Currency Volatility(VXY) 11.5 +1.6%
- S&P 500 Implied Correlation 77.5 -2.9%
- ISE Sentiment Index 68.0 +16.0 points
- Total Put/Call .94 -6.0%
- NYSE Arms 1.28 -32.3%
Credit Investor Angst:
- North American Investment Grade CDS Index 89.54 +3.5%
- America Energy Sector High-Yield CDS Index 1,127.0 +2.7%
- European Financial Sector CDS Index 104.21 +.12%
- Italian/German 10Y Yld Spread 230.75 -4.25 basis points
- Asia Ex-Japan Investment Grade CDS Index 119.56 +1.09%
- Emerging Market CDS Index 350.97 +2.81%
- iBoxx Offshore RMB China Corporate High Yield Index 159.93 -.04%
- 2-Year Swap Spread 21.50 +.5 basis point
- TED Spread 105.0 -5.0 basis points
- 3-Month EUR/USD Cross-Currency Basis Swap 41.0 -6.0 basis points
- MBS 5/10 Treasury Spread 128.0 +1.0 basis point
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 58.16 -.54%
- 3-Month T-Bill Yield .12% -1.0 basis point
- Yield Curve 44.25 -8.0 basis points
- China Iron Ore Spot 82.40 USD/Metric Tonne -.37%
- Citi US Economic Surprise Index -131.10 -4.6 points
- Citi Eurozone Economic Surprise Index -61.40 -.1 point
- Citi Emerging Markets Economic Surprise Index 13.40 +.3 point
- 10-Year TIPS Spread 1.03 -17.0 basis points
- n/a chance of no change at April 29th meeting, n/a chance of no change at June 10th meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating -85 open in Japan
- China A50 Futures: Indicating -139 open in China
- DAX Futures: Indicating -47 open in Germany
Portfolio:
- Slightly Higher: On gains in my tech/biotech/medical/industrial sector longs
- Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges
- Market Exposure: Moved to 50% Net Long
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