Stocks Higher into Final Hour on Central Bank Hopes, Less Eurozone Debt Angst, Short-Covering, Homebuilding/Healthcare Sector Strength

Broad Equity Market Tone:

• Advance/Decline Line: Slightly Higher
  

• Sector Performance: Mixed
  

• Volume: Below Average

• Market Leading Stocks: Performing In Line

Equity Investor Angst:

• Volatility(VIX) 12.79 -.85%

• Euro/Yen Carry Return Index 143.01 +.08%

• Emerging Markets Currency Volatility(VXY) 6.72 -1.61%

• S&P 500 Implied Correlation 51.31 +.10%

• ISE Sentiment Index 70.0 -12.50%

• Total Put/Call .97 +3.19%

• NYSE Arms 1.20 -5.53% 

Credit Investor Angst:

• North American Investment Grade CDS Index 59.49 -2.01%

• European Financial Sector CDS Index 65.96 -4.46%

• Western Europe Sovereign Debt CDS Index 33.43 -4.27%
• Asia Pacific Sovereign Debt CDS Index 72.81 +.90%

• Emerging Market CDS Index 272.61 -1.14%

• China Blended Corporate Spread Index 315.62 -.32%
• 2-Year Swap Spread 23.0 unch.

• TED Spread 20.25 unch.

• 3-Month EUR/USD Cross-Currency Basis Swap -13.50 -1.5 basis points

Economic Gauges:

• 3-Month T-Bill Yield .03% unch.

• Yield Curve 199.0 -1.0 basis point

• China Import Iron Ore Spot $93.20/Metric Tonne unch.

• Citi US Economic Surprise Index -2.60 -2.3 points

• Citi Emerging Markets Economic Surprise Index -7.70 -2.2 points

• 10-Year TIPS Spread 2.22 -1.0 basis point

Overseas Futures:

• Nikkei Futures: Indicating -10 open in Japan

• DAX Futures: Indicating +9 open in Germany

Portfolio: 

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

• Disclosed Trades: None

• Market Exposure: 50% Net Long