Broad Equity Market Tone:
- Advance/Decline Line: Substantially Higher
- Sector Performance: Every Sector Rising
- Volume: Above Average
- Market Leading Stocks: Outperforming
Equity Investor Angst:
- Volatility(VIX) 25.96 -10.7%
- Euro/Yen Carry Return Index 139.11 +.18%
- Emerging Markets Currency Volatility(VXY) 9.02 -3.11%
- S&P 500 Implied Correlation 47.76 +2.01%
- ISE Sentiment Index 116.0 +65.7%
- Total Put/Call .92 -30.30%
- NYSE Arms .66 +14.33%
Credit Investor Angst:
- North American Investment Grade CDS Index 57.53 -4.2%
- America Energy Sector High-Yield CDS Index 397.0 -2.26%
- European Financial Sector CDS Index 54.17 -.92%
- Italian/German 10Y Yld Spread 128.0 -2.25 basis points
- Asia Pacific Sovereign Debt CDS Index 13.40 -2.55%
- Emerging Market CDS Index 130.83 -4.55%
- iBoxx Offshore RMB China Corporate High Yield Index 147.40 -.01%
- 2-Year Swap Spread 28.25 +.75 basis point
- TED Spread 24.25 -1.5 basis points
- 3-Month EUR/USD Cross-Currency Basis Swap -35.25 +5.0 basis points
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 75.13 +.46%
- 3-Month T-Bill Yield 1.57% +2.0 basis points
- Yield Curve 78.50 +1.0 basis point
- China Iron Ore Spot 74.95 USD/Metric Tonne +.20%
- Citi US Economic Surprise Index 43.50 -3.9 points
- Citi Eurozone Economic Surprise Index 39.50 -3.2 points
- Citi Emerging Markets Economic Surprise Index 1.0 +1.9 points
- 10-Year TIPS Spread 2.07 +1.0 basis point
- 100.0% chance of Fed rate hike at May 2 meeting, 100.0% chance at June 13 meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating +318 open in Japan
- China A50 Futures: Indicating +81 open in China
- DAX Futures: Indicating +72 open in Germany
Portfolio:
- Higher: On gains in my tech/retail/medical/biotech sector longs
- Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges and some of my (EEM) short
- Market Exposure: Moved to 100% Net Long
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