Broad Equity Market Tone:
- Advance/Decline Line: Around Even
- Sector Performance: Most sectors rising
- Volume: Below Average
- Market Leading Stocks: Performing In Line
Equity Investor Angst:
- Volatility(VIX) 16.9 -.8%
- Bloomberg Global Risk On/Risk Off Index 3,209.0 -33.0 points
- Euro/Yen Carry Return Index 134.52 -.29%
- Emerging Markets Currency Volatility(VXY) 9.92 -1.3%
- S&P 500 Implied Correlation 48.0 -1.8%
- ISE Sentiment Index 151.0 +23.0 points
- Total Put/Call .77 -2.5%
- NYSE Arms 1.81 +147.9%
Credit Investor Angst:
- North American Investment Grade CDS Index 50.13 -1.91%
- US Energy High-Yield OAS 459.32 +.48%
- European Financial Sector CDS Index 57.86 -1.96%
- Italian/German 10Y Yld Spread 102.0 -1.0 basis point
- Asia Ex-Japan Investment Grade CDS Index 88.21 -1.15%
- Emerging Market CDS Index 164.87 -4.91%
- iBoxx Offshore RMB China Corporate High Yield Index 189.06 -.12%
- 2-Year Swap Spread 11.5 -.5 basis point
- TED Spread 17.5 +.25 basis point
- 3-Month EUR/USD Cross-Currency Basis Swap -3.25 +.25 basis point
- MBS 5/10 Treasury Spread 65.0 -.25 basis point
- IHS Markit CMBX BBB- 6 72.25 unch.
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 61.05 +.36%
- 3-Month T-Bill Yield .01% -1.0 basis point
- Yield Curve 147.0 +1.0 basis point
- China Iron Ore Spot 170.50 USD/Metric Tonne +2.91%
- Citi US Economic Surprise Index 39.60 +1.8 points
- Citi Eurozone Economic Surprise Index 143.30 -1.4 points
- Citi Emerging Markets Economic Surprise Index 24.2 +3.4 points
- 10-Year TIPS Spread 2.33 -1.0 basis point
- 94.4% chance of no change at June 16th meeting, 94.4% chance of no change at Sept. 22nd meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating +122 open in Japan
- China A50 Futures: Indicating +58 open in China
- DAX Futures: Indicating +33 open in Germany
Portfolio:
- Higher: On gains in my tech/medical/biotech/industrial sector longs
- Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges
- Market Exposure: Moved to 75% Net Long
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