Broad Equity Market Tone:
- Advance/Decline Line: Substantially Higher
- Sector Performance: Most Sectors Rising
- Volume: Light
- Market Leading Stocks: Outperforming
Equity Investor Angst:
- Volatility(VIX) 16.7 -1.2%
- Bloomberg Global Risk On/Risk Off Index 3,248.0 +33.0 points
- Euro/Yen Carry Return Index 134.26 -.16%
- Emerging Markets Currency Volatility(VXY) 11.3 +1.2%
- CBOE S&P 500 Implied Correlation Index 25.9 +1.8%
- ISE Sentiment Index 86.0 -59.0 points
- Total Put/Call .85 -7.6%
- NYSE Arms .65 -56.7%
Credit Investor Angst:
- North American Investment Grade CDS Index 49.60 +.25%
- US Energy High-Yield OAS 386.34 +.63%
- European Financial Sector CDS Index 55.05 -1.3%
- Italian/German 10Y Yld Spread 135.0 +1.0 basis point
- Asia Ex-Japan Investment Grade CDS Index 77.80 -1.3%
- Emerging Market CDS Index 188.3 -.8%
- China Corp. High-Yield Bond USD ETF(KHYB) 32.88 +.09%
- 2-Year Swap Spread 19.25 -.25 basis point
- TED Spread 18.0 unch.
- 3-Month EUR/USD Cross-Currency Basis Swap 1.25 +6.25 basis points
- MBS 5/10 Treasury Spread 72.75 +4.5 basis points
- IHS Markit CMBX BBB- 6 72.25 +.25 basis point
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 54.06 -.73%
- 3-Month T-Bill Yield .03% -1.0 basis point
- Yield Curve 80.5 +6.75 basis points
- China Iron Ore Spot 121.20 USD/Metric Tonne +2.3%
- Citi US Economic Surprise Index 20.0 unch.
- Citi Eurozone Economic Surprise Index 28.9 +.7 point
- Citi Emerging Markets Economic Surprise Index -2.4 +1.6 points
- 10-Year TIPS Spread 2.60 +5.0 basis points
- 43.5%(+3.7 percentage points) chance of no change at March 16th FOMC meeting, 28.1%(+2.4 percentage points) chance of no change at May 4th meeting
US Covid-19:
- 620 new infections/100K people(last 7 days total) +70/100K people
- New Covid-19 patient hospital admissions per 100K -38.3% from peak 7-day avg. of 1/3/21-1/9/21
Overseas Futures:
- Nikkei 225 Futures: Indicating +161 open in Japan
- China A50 Futures: Indicating +101 open in China
- DAX Futures: Indicating -15 open in Germany
Portfolio:
- Slightly Higher: On gains in my consumer discretionary/medical/industrial sector longs
- Disclosed Trades: None
- Market Exposure: 75% Net Long
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