Broad Equity Market Tone:
- Advance/Decline Line: Substantially Higher
- Sector Performance: Most Sectors Rising
- Volume: Around Average
- Market Leading Stocks: Outperforming
Equity Investor Angst:
- Volatility(VIX) 21.6 +3.6%
- Bloomberg Global Risk On/Risk Off Index 2,368.0 +6.0 points
- Euro/Yen Carry Return Index 131.16 -.17%
- Emerging Markets Currency Volatility(VXY) 9.91 -.50%
- S&P 500 Implied Correlation 52.75 +.74%
- ISE Sentiment Index 153.0 +42.0 points
- Total Put/Call .64 -13.5%
- NYSE Arms 1.21 +24.7%
Credit Investor Angst:
- North American Investment Grade CDS Index 50.22 -1.50%
- US Energy High-Yield OAS 508.36 -.88%
- European Financial Sector CDS Index 57.68 -.03%
- Italian/German 10Y Yld Spread 95.25 -3.0 basis points
- Asia Ex-Japan Investment Grade CDS Index 57.87 -1.67%
- Emerging Market CDS Index 156.88 +.51%
- iBoxx Offshore RMB China Corporate High Yield Index 185.30 -.13%
- 2-Year Swap Spread 9.5 +.25 basis point
- TED Spread 17.0 +.25 basis point
- 3-Month EUR/USD Cross-Currency Basis Swap -3.75 +.75 basis point
- MBS 5/10 Treasury Spread 63.75 +1.0 basis point
- IHS Markit CMBX BBB- 6 75.5 unch.
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 62.63 +.08%
- 3-Month T-Bill Yield .02% unch.
- Yield Curve 108.0 +2.0 basis points
- China Iron Ore Spot 155.0 USD/Metric Tonne +2.7%
- Citi US Economic Surprise Index 72.10 +.9 point
- Citi Eurozone Economic Surprise Index 142.7 -3.0 points
- Citi Emerging Markets Economic Surprise Index 64.40 -1.0 point
- 10-Year TIPS Spread 2.20 +1.0 basis point
- 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 +77 open in Japan
- China A50 Futures: Indicating -97 open in China
- DAX Futures: Indicating -8 open in Germany
Portfolio:
- Higher: On gains in my energy/industrial/biotech/medical sector longs
- Disclosed Trades: None
- Market Exposure: 100% Net Long
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