Stocks Slightly Higher into Final Hour on Central Bank Hopes, Less Eurozone Debt Angst, Buyout Speculation, Biotech/Healthcare Sector Strength

Broad Equity Market Tone:

• Advance/Decline Line: Higher
  

• Sector Performance: Most Sectors Rising
  

• Volume: Light

• Market Leading Stocks: Performing In Line

Equity Investor Angst:

• Volatility(VIX) 11.58 -1.20%

• Euro/Yen Carry Return Index 143.16 -.12%

• Emerging Markets Currency Volatility(VXY) 6.56 -2.24%

• S&P 500 Implied Correlation 49.46 +1.39%

• ISE Sentiment Index 86.0 -9.47%

• Total Put/Call .76 -13.64%

• NYSE Arms .81 +16.94% 

Credit Investor Angst:

• North American Investment Grade CDS Index 56.19 unch.

• European Financial Sector CDS Index 58.63 -7.49%

• Western Europe Sovereign Debt CDS Index 28.85 -7.16%
• Asia Pacific Sovereign Debt CDS Index 66.04 -1.94%

• Emerging Market CDS Index 275.54 -.90%

• China Blended Corporate Spread Index 309.67 -.22%
• 2-Year Swap Spread 22.25 unch.

• TED Spread 21.75 -.5 basis point

• 3-Month EUR/USD Cross-Currency Basis Swap -14.0 -.25 basis point

Economic Gauges:

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

• Yield Curve 189.0 unch.

• China Import Iron Ore Spot $88.90/Metric Tonne -.34%

• Citi US Economic Surprise Index 27.30 +22.1 points

• Citi Emerging Markets Economic Surprise Index -13.40 +.8 point

• 10-Year TIPS Spread 2.15 unch.

Overseas Futures:

• Nikkei Futures: Indicating +35 open in Japan

• DAX Futures: Indicating -12 open in Germany

Portfolio: 

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

• Disclosed Trades: None

• Market Exposure: 50% Net Long