Broad Equity Market Tone:
- Advance/Decline Line: Substantially Higher
- Sector Performance: Almost Every Sector Rising
- Market Leading Stocks: Performing In Line
- Volatility(VIX) 25.6 -7.6%
- Bloomberg Global Risk On/Risk Off Index 3,053.0 +275.0 points
- Euro/Yen Carry Return Index 133.10 +.56%
- Emerging Markets Currency Volatility(VXY) 9.4 -3.5%
- CBOE S&P 500 Implied Correlation Index 41.6 -3.0%
- ISE Sentiment Index 88.0 -8.0 points
- North American Investment Grade CDS Index 60.62 -1.2%
- US Energy High-Yield OAS 416.71 -.57%
- European Financial Sector CDS Index 67.09 -1.3%
- Italian/German 10Y Yld Spread 128.0 -5.0 basis points
- Asia Ex-Japan Investment Grade CDS Index 91.38 -.01%
- Emerging Market CDS Index 213.89 -1.0%
- China Corp. High-Yield Bond USD ETF(KHYB) 31.57 -.03%
- Ukraine Sovereign Debt Credit Default Swap 788.33 -1.7%
- 2-Year Swap Spread 15.5 unch.
- TED Spread 14.25 +1.75 basis points
- 3-Month EUR/USD Cross-Currency Basis Swap -12.75 unch.
- MBS 5/10 Treasury Spread 83.25 -2.75 basis points
- IHS Markit CMBX BBB- 6 74.5 -.5 basis point
- Bloomberg Emerging Markets Currency Index 54.35 +.82%
- 3-Month T-Bill Yield .18% unch.
- Yield Curve 59.5 -3.5 basis points
- China Iron Ore Spot 137.75 USD/Metric Tonne +1.2%
- Citi US Economic Surprise Index -6.7 -5.0 points
- Citi Eurozone Economic Surprise Index 51.4 +.7 point
- Citi Emerging Markets Economic Surprise Index 32.90 -3.3 points
- 10-Year TIPS Spread 2.46 +1.0 basis point
- 0.0%(unch.) chance of no change at May 4th FOMC meeting, 0.0%(unch.) chance of no change at June 15th meeting
US Covid-19:
- 1,088
new infections/100K people(last 7 days total). 63.0%(-11.0 percentage
points) of 1/14 peak -177/100K people from prior report.
- New
Covid-19 patient hospital admissions per 100K population -17.7%(-7.1
percentage points) from peak 7-day avg. of 1/9/21 - 1/15/22
Overseas Futures:
- Nikkei 225 Futures: Indicating +164 open in Japan
- China A50 Futures: Indicating +85 open in China
- DAX Futures: Indicating +41 open in Germany
- Higher: On gains in my tech/consumer discretionary/industrial sector longs, index hedges and emerging market shorts
- Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges
- Market Exposure: Moved to 100% Net Long