Stocks Rising into Final Hour on Central Bank Hopes, US Economic Data, Short-Covering, Financial/Tech Sector Strength

Broad Equity Market Tone:

• Advance/Decline Line: Slightly Higher
  

• Sector Performance: Mixed
  

• Volume: Light

• Market Leading Stocks: Performing In Line

Equity Investor Angst:

• Volatility(VIX) 11.58 -1.70%

• Euro/Yen Carry Return Index 143.94 +.19%

• Emerging Markets Currency Volatility(VXY) 6.65 -1.77%

• S&P 500 Implied Correlation 49.44 +.39%

• ISE Sentiment Index 143.0 +48.96%

• Total Put/Call .67 -22.98%

• NYSE Arms 1.06 +113.90% 

Credit Investor Angst:

• North American Investment Grade CDS Index 56.18 -2.52%

• European Financial Sector CDS Index 62.54 -2.72%

• Western Europe Sovereign Debt CDS Index 31.91 -.31%
• Asia Pacific Sovereign Debt CDS Index 68.86 -1.18%

• Emerging Market CDS Index 273.30 +.59%

• China Blended Corporate Spread Index 312.91 -.36%
• 2-Year Swap Spread 22.25 +.5 basis point

• TED Spread 21.50 +.5 basis point

• 3-Month EUR/USD Cross-Currency Basis Swap -13.0 +1.25 basis points

Economic Gauges:

• 3-Month T-Bill Yield .01% -2.0 basis points

• Yield Curve 194.0 -2.0 basis points

• China Import Iron Ore Spot $91.90/Metric Tonne -.43%

• Citi US Economic Surprise Index 4.0 +5.8 points

• Citi Emerging Markets Economic Surprise Index -14.60 -2.7 points

• 10-Year TIPS Spread 2.18 unch.

Overseas Futures:

• Nikkei Futures: Indicating +54 open in Japan

• DAX Futures: Indicating -5 open in Germany

Portfolio: 

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

• Disclosed Trades: None

• Market Exposure: 75% Net Long