Stocks Lower into Final Hour on Russia/Ukraine Tensions, Global Growth Fears, Technical Selling, Financial/Tech Sector Weakness

Broad Equity Market Tone:

• Advance/Decline Line: Lower
  

• Sector Performance: Most Sectors Declining
  

• Volume: Above Average

• Market Leading Stocks: Underperforming

Equity Investor Angst:

• Volatility(VIX) 14.98 +.33%

• Euro/Yen Carry Return Index 146.43 -.22%

• Emerging Markets Currency Volatility(VXY) 8.71 +.23%

• S&P 500 Implied Correlation 56.29 -1.49%

• ISE Sentiment Index 104.0 +36.84%

• Total Put/Call .85 -15.84%

• NYSE Arms .91 -45.96% 

Credit Investor Angst:

• North American Investment Grade CDS Index 71.23 -1.05%

• European Financial Sector CDS Index 97.70 -.17%

• Western Europe Sovereign Debt CDS Index 47.34 +1.15%

• Asia Pacific Sovereign Debt CDS Index 93.13 -.32%

• Emerging Market CDS Index 286.80 -1.81%

• China Blended Corporate Spread Index 368.52 -.10%

• 2-Year Swap Spread 11.5 +.75 basis point

• TED Spread 20.25 +.5 basis point

• 3-Month EUR/USD Cross-Currency Basis Swap -2.75 -.5 basis point

Economic Gauges:

• 3-Month T-Bill Yield .03% -1.0 basis point

• Yield Curve 222.0 -4.0 basis points

• China Import Iron Ore Spot $112.30/Metric Tonne +.36%

• Citi US Economic Surprise Index -31.0 +.3 point

• Citi Emerging Markets Economic Surprise Index -7.2 -.2 point

• 10-Year TIPS Spread 2.14 -1.0 basis point

Overseas Futures:

• Nikkei Futures: Indicating -32 open in Japan

• DAX Futures: Indicating +2 open in Germany

Portfolio: 

• Slightly Higher: On gains in my medical sector longs and index hedges

• Disclosed Trades: None

• Market Exposure: 25% Net Long