Broad Equity Market Tone:
- Advance/Decline Line: Substantially Higher
- Sector Performance: Most Sectors Rising
- Volume: Above Average
- Market Leading Stocks: Performing In Line
Equity Investor Angst:
- Volatility(VIX) 22.6 -7.1%
- Bloomberg Global Risk On/Risk Off Index 2,050.0 +139.0 points
- Euro/Yen Carry Return Index 130.40 +.55%
- Emerging Markets Currency Volatility(VXY) 10.2 -1.6%
- S&P 500 Implied Correlation 49.7 -1.9%
- ISE Sentiment Index 94.0 -8.0 points
- Total Put/Call .67 -18.3%
- NYSE Arms .93 -16.2%
Credit Investor Angst:
- North American Investment Grade CDS Index 50.18 -3.55%
- US Energy High-Yield OAS 494.0 -.31%
- European Financial Sector CDS Index 61.50 -2.8%
- Italian/German 10Y Yld Spread 111.0 -5.0 basis points
- Asia Ex-Japan Investment Grade CDS Index 62.53 -1.21%
- Emerging Market CDS Index 168.08 -1.68%
- iBoxx Offshore RMB China Corporate High Yield Index 184.97 -.04%
- 2-Year Swap Spread 7.25 unch.
- TED Spread 14.75 -.25 basis point
- 3-Month EUR/USD Cross-Currency Basis Swap -3.75 -.25 basis point
- MBS 5/10 Treasury Spread 71.75 unch.
- IHS Markit CMBX BBB- 6 73.0 unch.
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 62.43 +.09%
- 3-Month T-Bill Yield .08% unch.
- Yield Curve 97.25 +1.25 basis points
- China Iron Ore Spot 166.70 USD/Metric Tonne -.20%
- Citi US Economic Surprise Index 52.40 -4.9 points
- Citi Eurozone Economic Surprise Index 148.60 -11.8 points
- Citi Emerging Markets Economic Surprise Index 63.3 -.6 piont
- 10-Year TIPS Spread 2.11 +2.0 basis points
- 100.0% chance of no change at March 17th meeting, 100.0% chance of no change at April 28th meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating +66 open in Japan
- China A50 Futures: Indicating +5 open in China
- DAX Futures: Indicating +15 open in Germany
Portfolio:
- Higher: On gains in my tech/energy/industrial/medical/biotech sector longs
- Disclosed Trades: Added to my (IWM)/(QQQ) hedges
- Market Exposure: Moved to 50% Net Long
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