Stocks Slightly Higher into Final Hour on US Economic Data, Seasonal Strength, Short-Covering, Transport/Metal & Mining Sector Strength

Broad Equity Market Tone:

• Advance/Decline Line: Slightly Lower
  

• Sector Performance: Mixed
  

• Volume: Light

• Market Leading Stocks: Performing In Line

Equity Investor Angst:

• Volatility(VIX) 12.55 -.55%

• Euro/Yen Carry Return Index 153.58 -.03%

• Emerging Markets Currency Volatility(VXY) 7.59 -.52%

• S&P 500 Implied Correlation 30.38 unch.

• ISE Sentiment Index 116.0 -9.38%

• Total Put/Call 1.0 +28.21%

• NYSE Arms 1.07 -25.57% 

Credit Investor Angst:

• North American Investment Grade CDS Index 60.90 -.70%

• European Financial Sector CDS Index 62.63 +.21%

• Western Europe Sovereign Debt CDS Index 28.97 +.38%

• Asia Pacific Sovereign Debt CDS Index 62.94 +1.35%

• Emerging Market CDS Index 269.03 -.92%

• China Blended Corporate Spread Index 322.79 -.59%

• 2-Year Swap Spread 19.25 -3.0 basis points

• TED Spread 22.75 -.5 basis point

• 3-Month EUR/USD Cross-Currency Basis Swap -8.0 +1.5 basis points

Economic Gauges:

• 3-Month T-Bill Yield .02% +1 basis point

• Yield Curve 175.0 -6.0 basis points

• China Import Iron Ore Spot $69.58/Metric Tonne -1.19%

• Citi US Economic Surprise Index 16.40 +3.0 points

• Citi Eurozone Economic Surprise Index -23.70 +1.6 points

• Citi Emerging Markets Economic Surprise Index .3 +.3 point

• 10-Year TIPS Spread 1.86 -2.0 basis points

Overseas Futures:

• Nikkei Futures: Indicating +19 open in Japan

• DAX Futures: Indicating +13 open in Germany

Portfolio: 

• Slightly Higher: On gains in my tech sector longs and emerging markets shorts

• Disclosed Trades: None

• Market Exposure: 50% Net Long