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) 23.2 -9.2%
- Bloomberg Global Risk On/Risk Off Index 2,217.0 +96.0 points
- Euro/Yen Carry Return Index 130.56 -.15%
- Emerging Markets Currency Volatility(VXY) 10.1 -.59%
- S&P 500 Implied Correlation 53.0 +4.9%
- ISE Sentiment Index 130.0 -11.0 points
- Total Put/Call .67 -20.2%
- NYSE Arms 1.47 +101.3%
Credit Investor Angst:
- North American Investment Grade CDS Index 51.50 -2.28%
- US Energy High-Yield OAS 493.68 -1.14%
- European Financial Sector CDS Index 57.72 -2.56%
- Italian/German 10Y Yld Spread 100.0 -5.0 basis points
- Asia Ex-Japan Investment Grade CDS Index 59.69 -.32%
- Emerging Market CDS Index 158.30 -2.07%
- iBoxx Offshore RMB China Corporate High Yield Index 185.72 +.08%
- 2-Year Swap Spread 8.75 +.25 basis point
- TED Spread 15.25 unch.
- 3-Month EUR/USD Cross-Currency Basis Swap -4.5 unch.
- MBS 5/10 Treasury Spread 66.0 -.25 basis point
- IHS Markit CMBX BBB- 6 74.5 -.25 basis point
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 62.22 -.34%
- 3-Month T-Bill Yield .03% -1.0 basis point
- Yield Curve 102.0 +.5 basis point
- China Iron Ore Spot 152.40 USD/Metric Tonne +4.67%
- Citi US Economic Surprise Index 71.60 +3.9 points
- Citi Eurozone Economic Surprise Index 147.4 +3.5 points
- Citi Emerging Markets Economic Surprise Index 65.60 -1.8 points
- 10-Year TIPS Spread 2.17 unch.
- 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 +254 open in Japan
- China A50 Futures: Indicating -94 open in China
- DAX Futures: Indicating +25 open in Germany
Portfolio:
- Higher: On gains in my energy/tech/industrial/biotech/medical sector longs
- Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges
- Market Exposure: Moved to 100% Net Long
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