QUICK SUMMARY

• The US Dollar Index was unchanged at 90.6, while the implied volatility of the index was down
• Japan's jobless rate fell to 2.6% vs 2.9% consensus
• China April Caixin manufacturing PMI 51.9 vs consensus 50.9 (50.6 in prior month)

DAILY PERFORMANCE OF MAJOR CURRENCIES

• Euro unchanged at 1.2117 (YTD: -0.8%)
• Yen down 0.4% at 109.02 (YTD: -5.3%)
• Onshore Yuan up 0.1% at 6.4710 (YTD: +0.8%)
• Swiss franc unchanged at 0.9086 (YTD: -2.6%)
• Sterling up 0.1% at 1.3946 (YTD: +2.0%)
• Canadian dollar up 0.3% at 1.2277 (YTD: +3.7%)
• Australian dollar down 0.1% at 0.7780 (YTD: +1.1%)
• NZ dollar down 0.1% at 0.7244 (YTD: +0.8%)  

RATES SPREADS

• 5Y German-US interest rates spread 2.4 bp tighter
• 5Y Japan-US rates spread 1.4 bp wider
• 5Y Chinese-US rates spread 2.1 bp tighter

VOLATILITIES

• Deutsche Bank USD Currency Volatility Index currently at 6.18, down -0.01 on the day (YTD: -1.11)
• Euro 1-Month At-The-Money Implied Volatility currently at 5.15, down -0.1 on the day (YTD: -1.8)
• Japanese Yen 1M ATM IV currently at 5.58, up 0.1 on the day (YTD: -0.5)
• Offshore Yuan 1M ATM IV currently at 3.65, up 0.1 on the day (YTD: -2.0)

NOTABLE MOVES IN SOVEREIGN CREDIT

• Jamaica (Government) 5-Year CDS spread (USD) up 49 bp, now at 386 bp
• Thailand, Kingdom of (Government) 5-Year CDS spread (USD) up 1 bp, now at 40 bp
• Russia, Federation of (Government) 5-Year CDS spread (USD) down -1 bp, now at 110 bp
• Mexico (United Mexican States) (Government) 5-Year CDS spread (USD) down -1 bp, now at 93 bp
• Spain, Kingdom of (Government) 5-Year CDS spread (USD) down -1 bp, now at 32 bp
• Brazil, Federative Republic of (Government) 5-Year CDS spread (USD) down -3 bp, now at 196 bp
• Colombia, Republic of (Government) 5-Year CDS spread (USD) down -2 bp, now at 111 bp
• Ukraine (Government) 5-Year CDS spread (USD) down -9 bp, now at 457 bp
• China, People's Republic of (Government) 5-Year CDS spread (USD) down -1 bp, now at 37 bp
• Government of Chile 5-Year CDS spread (USD) down -1 bp, now at 50 bp  

NOTABLE OTHER MOVERS TODAY

• Mauritius Rupee up 2.5% (YTD: -1.6%)
• Solomon Is Dollar up 0.9% (YTD: +0.8%)
• Canadian Dollar up 0.9% (YTD: +1.9%)
• Colombian Peso up 0.8% (YTD: -5.1%)
• Fiji Dollar down 0.8% (YTD: 0.0%)
• Malagasy Ariary down 0.9% (YTD: +4.6%)
• Ethiopian Birr down 0.9% (YTD: -6.5%)
• Argentine Peso down 0.9% (YTD: -10.1%)
• Turkish Lira down 1.0% (YTD: -9.4%)
• Venezuela Bolivar down 2.5% (YTD: -56.7%)