Stocks Slightly Higher into Final Hour on Less Eurozone Debt Angst, Short-Covering, Central Bank Hopes, Tech/Biotech Sector Strength
Broad Equity Market Tone:
- Advance/Decline Line: About Even
- Sector Performance: Mixed
- Market Leading Stocks: Performing In Line
Equity Investor Angst:
- Volatility(VIX) 13.70 +2.32%
- Euro/Yen Carry Return Index 135.56 +.08%
- Emerging Markets Currency Volatility(VXY) 9.62 +3.11%
- S&P 500 Implied Correlation 49.89 -.50%
- ISE Sentiment Index 95.0 -1.04%
- Total Put/Call .80 -2.44%
Credit Investor Angst:
- North American Investment Grade CDS Index 75.77 -.59%
- European Financial Sector CDS Index 142.72 -3.86%
- Western Europe Sovereign Debt CDS Index 86.67 -1.68%
- Emerging Market CDS Index 305.87 -1.03%
- 2-Year Swap Spread 16.0 -.25 bp
- 3-Month EUR/USD Cross-Currency Basis Swap -9.0 +.5 bp
Economic Gauges:
- 3-Month T-Bill Yield .03% +1 bp
- China Import Iron Ore Spot $130.90/Metric Tonne -.61%
- Citi US Economic Surprise Index -7.60 -2.1 points
- Citi Emerging Markets Economic Surprise Index -28.10 -1.0 point
- 10-Year TIPS Spread 2.15 +1 bp
Overseas Futures:
- Nikkei Futures: Indicating -109 open in Japan
- DAX Futures: Indicating -10 open in Germany
Portfolio:
- Higher: On gains in my biotech/tech/retail sector longs
- Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges, then added them back
- Market Exposure: 50% Net Long
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