Broad Equity Market Tone:
- Advance/Decline Line: Substantially Lower
- Sector Performance: Almost Every Sector Declining
- Volume: Around Average
- Market Leading Stocks: Performing In Line
Equity Investor Angst:
- Volatility(VIX) 22.1 +2.7%
- Bloomberg Global Risk On/Risk Off Index 2,821.0 -148.0 points
- Euro/Yen Carry Return Index 132.11 +.19%
- Emerging Markets Currency Volatility(VXY) 9.69 -.82%
- S&P 500 Implied Correlation 52.4 -.44%
- ISE Sentiment Index 110.0 -33.0 points
- Total Put/Call .83 +16.9%
- NYSE Arms 1.28 +39.1%
Credit Investor Angst:
- North American Investment Grade CDS Index 50.85 +1.1%
- US Energy High-Yield OAS 490.08 +.14%
- European Financial Sector CDS Index 58.79 +1.52%
- Italian/German 10Y Yld Spread 98.75 +3.25 basis points
- Asia Ex-Japan Investment Grade CDS Index 57.15 +.07%
- Emerging Market CDS Index 165.69 +.59%
- iBoxx Offshore RMB China Corporate High Yield Index 185.70 +.09%
- 2-Year Swap Spread 9.5 +.25 basis point
- TED Spread 15.25 -.25 basis point
- 3-Month EUR/USD Cross-Currency Basis Swap -2.75 -.25 basis point
- MBS 5/10 Treasury Spread 74.75 -3.0 basis points
- IHS Markit CMBX BBB- 6 75.5 +.25 basis point
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 62.86 -.05%
- 3-Month T-Bill Yield .03% -1.0 basis point
- Yield Curve 117.0 -1.0 basis point
- China Iron Ore Spot 168.9 USD/Metric Tonne +1.45%
- Citi US Economic Surprise Index 79.8 +2.1 points
- Citi Eurozone Economic Surprise Index 132.9 -1.7 points
- Citi Emerging Markets Economic Surprise Index 64.2 -1.5 points
- 10-Year TIPS Spread 2.18 -4.0 basis points
- 100.0% chance of no change at April 28th meeting, 100.0% chance of no change at June 16th meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating -161 open in Japan
- China A50 Futures: Indicating -67 open in China
- DAX Futures: Indicating +35 open in Germany
Portfolio:
- Lower: On losses in my biotech/energy/industrial/tech sector longs
- Disclosed Trades: None
- Market Exposure: 100% Net Long
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