Stocks Falling Substantially into Final Hour on Surging Eurozone/Emerging Markets Debt Angst, Escalating Ebola Fears, Global Growth Worries, Healthcare/Financial Sector Weakness

Broad Equity Market Tone:

• Advance/Decline Line: Substantially Lower
  

• Sector Performance: Almost Every Sector Declining
  

• Volume: Heavy

• Market Leading Stocks: Performing In Line

Equity Investor Angst:

• Volatility(VIX) 28.68 +26.15%

• Euro/Yen Carry Return Index 141.40 -.07%

• Emerging Markets Currency Volatility(VXY) 8.66 +3.84%

• S&P 500 Implied Correlation 71.57 +10.67%

• ISE Sentiment Index 99.0 +59.68%

• Total Put/Call 1.33 +26.67%

• NYSE Arms 1.92 +114.75% 

Credit Investor Angst:

• North American Investment Grade CDS Index 75.17 +3.29%

• European Financial Sector CDS Index 74.85 +9.79%

• Western Europe Sovereign Debt CDS Index 30.91 +14.58%
• Asia Pacific Sovereign Debt CDS Index 73.58 +.28%

• Emerging Market CDS Index 290.99 +7.72%

• China Blended Corporate Spread Index 340.95 +3.20%
• 2-Year Swap Spread 27.25 -.5 basis point

• TED Spread 22.5 unch.

• 3-Month EUR/USD Cross-Currency Basis Swap -10.25 -.75 basis point

Economic Gauges:

• 3-Month T-Bill Yield .01% unch.

• Yield Curve 178.0 -5.0 basis points

• China Import Iron Ore Spot $82.55/Metric Tonne -1.52%

• Citi US Economic Surprise Index 12.30 -7.1 points
• Citi Eurozone Economic Surprise Index -57.1 +.2 point

• Citi Emerging Markets Economic Surprise Index -23.90 +1.4 points

• 10-Year TIPS Spread 1.85 -7 basis points

Overseas Futures:

• Nikkei Futures: Indicating -401 open in Japan

• DAX Futures: Indicating -21 open in Germany

Portfolio: 

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

• Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges

• Market Exposure: Moved to 50% Net Long