Stocks Rising into Final Hour on Central Bank Hopes, Yen Weakness, Short-Covering, Tech/Healthcare Sector Strength

Broad Equity Market Tone:

• Advance/Decline Line: Higher
  

• Sector Performance: Most Sectors Rising
  

• Volume: Slightly Above Average

• Market Leading Stocks: Performing In Line

Equity Investor Angst:

• Volatility(VIX) 14.51 -.07%

• Euro/Yen Carry Return Index 146.92 +2.07%

• Emerging Markets Currency Volatility(VXY) 7.73 +3.48%

• S&P 500 Implied Correlation 54.88 -1.83%

• ISE Sentiment Index 72.0 -14.29%

• Total Put/Call .74 -22.92%

• NYSE Arms .87 -15.34% 

Credit Investor Angst:

• North American Investment Grade CDS Index 64.04 -2.69%

• European Financial Sector CDS Index 67.08 -3.48%

• Western Europe Sovereign Debt CDS Index 31.80 -4.42%
• Asia Pacific Sovereign Debt CDS Index 63.59 -2.71%

• Emerging Market CDS Index 238.44 -1.27%

• China Blended Corporate Spread Index 326.90 -.33%
• 2-Year Swap Spread 22.0 +.75 basis point

• TED Spread 22.75 +.5 basis point

• 3-Month EUR/USD Cross-Currency Basis Swap -9.75 -.75 basis point

Economic Gauges:

• 3-Month T-Bill Yield .00% unch.

• Yield Curve 184.0 +1.0 basis point

• China Import Iron Ore Spot $79.59/Metric Tonne -.29%

• Citi US Economic Surprise Index 18.0 -.8 point
• Citi Eurozone Economic Surprise Index -32.40 -2.7 points

• Citi Emerging Markets Economic Surprise Index -17.30 -1.3 points

• 10-Year TIPS Spread 1.93 +2.0 basis points

Overseas Futures:

• Nikkei Futures: Indicating +641 open in Japan

• DAX Futures: Indicating +1 open in Germany

Portfolio: 

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

• Disclosed Trades: None

• Market Exposure: 50% Net Long