Broad Equity Market Tone:
- Advance/Decline Line: Lower
- Sector Performance: Mixed
- Volume: Around Average
- Market Leading Stocks: Underperforming
Equity Investor Angst:
- Volatility(VIX) 21.2 -1.9%
- Bloomberg Global Risk On/Risk Off Index 2,233.0 +185.0 points
- Euro/Yen Carry Return Index 130.36 +.43%
- Emerging Markets Currency Volatility(VXY) 10.2 +.8%
- S&P 500 Implied Correlation 50.9 +6.1%
- ISE Sentiment Index 117.0 -26.0 points
- Total Put/Call .69 -1.4%
- NYSE Arms 1.08 -32.2%
Credit Investor Angst:
- North American Investment Grade CDS Index 50.85 +.88%
- US Energy High-Yield OAS 487.59 -.15%
- European Financial Sector CDS Index 60.07 +.64%
- Italian/German 10Y Yld Spread 118.0 +3.0 basis points
- Asia Ex-Japan Investment Grade CDS Index 60.72 -1.98%
- Emerging Market CDS Index 167.18 +.24%
- iBoxx Offshore RMB China Corporate High Yield Index 185.49 +.15%
- 2-Year Swap Spread 7.75 +.5 basis point
- TED Spread 14.75 unch.
- 3-Month EUR/USD Cross-Currency Basis Swap -4.0 +1.0 basis point
- MBS 5/10 Treasury Spread 68.75 -.25 basis point
- IHS Markit CMBX BBB- 6 73.5 +.25 basis point
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 62.69 +.03%
- 3-Month T-Bill Yield .08% unch.
- Yield Curve 95.25 -.75 basis point
- China Iron Ore Spot 167.60 USD/Metric Tonne +3.29%
- Citi US Economic Surprise Index 62.80 +12.9 points
- Citi Eurozone Economic Surprise Index 141.50 -2.1 points
- Citi Emerging Markets Economic Surprise Index 60.10 -.6 point
- 10-Year TIPS Spread 2.17 +5.0 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 -116 open in Japan
- China A50 Futures: Indicating -29 open in China
- DAX Futures: Indicating +6 open in Germany
Portfolio:
- Slightly Higher: On gains in my tech/industrial sector longs
- Disclosed Trades: None
- Market Exposure: 75% Net Long
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