- Advance/Decline Line: Substantially Lower
- Sector Performance: Almost Every Sector Declining
- Volume: Below Average
- Market Leading Stocks: Underperforming
Equity Investor Angst:
- Volatility(VIX) 167.9 +10.2%
- Bloomberg Global Risk On/Risk Off Index 3,235.0 -68.0 points
- Euro/Yen Carry Return Index 134.51 -.2%
- Emerging Markets Currency Volatility(VXY) 9.92 -.3%
- S&P 500 Implied Correlation 48.7 -2.0%
- ISE Sentiment Index 81.0 -25.0 points
- Total Put/Call .87 +10.1%
- NYSE Arms .82 +39.0%
Credit Investor Angst:
- North American Investment Grade CDS Index 50.72 +.93%
- US Energy High-Yield OAS 449.0 -.01%
- European Financial Sector CDS Index 58.10 +1.0%
- Italian/German 10Y Yld Spread 101.0 unch.
- Asia Ex-Japan Investment Grade CDS Index 75.5 -8.3%
- Emerging Market CDS Index 163.47 +1.3%
- China Corp. High-Yield Bond USD ETF 39.08 unch.
- 2-Year Swap Spread 11.5 -.25 basis point
- TED Spread 17.75 -.25 basis point
- 3-Month EUR/USD Cross-Currency Basis Swap -3.25 unch.
- MBS 5/10 Treasury Spread 66.25 +.5 basis point
- IHS Markit CMBX BBB- 6 72.25 unch.
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 61.07 +.05%
- 3-Month T-Bill Yield .02% +1.0 basis point
- Yield Curve 141.0 -1.0 basis point
- China Iron Ore Spot 178.25 USD/Metric Tonne +3.7%
- Citi US Economic Surprise Index 35.50 -5.7 points
- Citi Eurozone Economic Surprise Index 136.20 -5.5 points
- Citi Emerging Markets Economic Surprise Index 35.3 -1.5 points
- 10-Year TIPS Spread 2.36 -1.0 basis point
- 90.1% chance of no change at June 16th meeting, 90.1% chance of no change at Sept. 22nd meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating -345 open in Japan
- China A50 Futures: Indicating -183 open in China
- DAX Futures: Indicating +20 open in Germany
Portfolio:
- Slightly Lower: On losses in my tech/biotech/industrial sector longs
- Disclosed Trades: None
- Market Exposure: 75% Net Long
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