Stocks Falling Substantially into Final Hour on Global Growth Worries, Escalating Ebola Fears, Russia-Ukraine Tensions, Transport/Energy Sector Weakness

Broad Equity Market Tone:

• Advance/Decline Line: Substantially Lower
  

• Sector Performance: Almost Every Sector Declining
  

• Volume: Above Average

• Market Leading Stocks: Underperforming

Equity Investor Angst:

• Volatility(VIX) 17.17 +5.27%

• Euro/Yen Carry Return Index 143.73 -.59%

• Emerging Markets Currency Volatility(VXY) 8.15 -.85%

• S&P 500 Implied Correlation 61.51 +3.07%

• ISE Sentiment Index 47.0 -34.72%

• Total Put/Call 1.32 +18.92%

• NYSE Arms 1.73 +20.94% 

Credit Investor Angst:

• North American Investment Grade CDS Index 65.52 +1.67%

• European Financial Sector CDS Index 62.55 -1.21%

• Western Europe Sovereign Debt CDS Index 26.82 -11.1%
• Asia Pacific Sovereign Debt CDS Index 71.04 -.68%

• Emerging Market CDS Index 286.27 +.90%

• China Blended Corporate Spread Index 316.06 -.63%
• 2-Year Swap Spread 26.75 +2.0 basis points

• TED Spread 22.0 -.75 basis point

• 3-Month EUR/USD Cross-Currency Basis Swap -11.0 -.5 basis point

Economic Gauges:

• 3-Month T-Bill Yield .01% -1.0 basis point

• Yield Curve 188.0 -4.0 basis points

• China Import Iron Ore Spot $77.50/Metric Tonne n/a

• Citi US Economic Surprise Index 12.40 -5.5 basis points

• Citi Emerging Markets Economic Surprise Index -19.20 -1.1 points

• 10-Year TIPS Spread 1.96 -1.0 basis point

Overseas Futures:

• Nikkei Futures: Indicating -182 open in Japan

• DAX Futures: Indicating -36 open in Germany

Portfolio: 

• Slightly Higher: On gains in my index hedges and emerging markets shorts

• Disclosed Trades: None

• Market Exposure: 25% Net Long