Stocks Rising into Final Hour on Diminishing Ukrainian Unrest, Central Bank Hopes, Short-Covering, Healthcare/Gaming Sector Strength

Broad Equity Market Tone:

• Advance/Decline Line: Higher
  

• Sector Performance: Most Sectors Rising
  

• Volume: Around Average

• Market Leading Stocks: Performing In Line

Equity Investor Angst:

• Volatility(VIX) 14.05 -4.29%

• Euro/Yen Carry Return Index 146.87 unch.

• Emerging Markets Currency Volatility(VXY) 8.68 -1.59%

• S&P 500 Implied Correlation 50.99 -2.10%

• ISE Sentiment Index 131.0 +24.76%

• Total Put/Call .77 +11.59%

• NYSE Arms .74 -44.01% 

Credit Investor Angst:

• North American Investment Grade CDS Index 63.70 -2.29%

• European Financial Sector CDS Index 86.79 -3.83%

• Western Europe Sovereign Debt CDS Index 53.0 unch.

• Asia Pacific Sovereign Debt CDS Index 105.37 +.67%

• Emerging Market CDS Index 302.20 -5.06%

• China Blended Corporate Spread Index 358.29 +.77%

• 2-Year Swap Spread 13.25 -.5 basis point

• TED Spread 20.0 unch.

• 3-Month EUR/USD Cross-Currency Basis Swap -6.0 -.75 basis point

Economic Gauges:

• 3-Month T-Bill Yield .04% unch.

• Yield Curve 242.0 unch.

• China Import Iron Ore Spot $119.90/Metric Tonne -2.04%

• Citi US Economic Surprise Index -11.80 -4.1 points

• Citi Emerging Markets Economic Surprise Index 13.70 +.1 point

• 10-Year TIPS Spread 2.16 +2 basis points

Overseas Futures:

• Nikkei Futures: Indicating +149 open in Japan

• DAX Futures: Indicating +9 open in Germany

Portfolio: 

• Higher: On gains in my tech/biotech/medical/retail sector longs

• Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges, then added them back

• Market Exposure: 50% Net Long