Stocks Mostly Higher into Final Hour on US Economic Data, Seasonal Strength, Yen Weakness, Gaming/Financial Sector Strength

Broad Equity Market Tone:

• Advance/Decline Line: Slightly Higher
  

• Sector Performance: Mixed
  

• Volume: Below Average

• Market Leading Stocks: Underperforming

Equity Investor Angst:

• Volatility(VIX) 14.50 -4.92%

• Euro/Yen Carry Return Index 153.46 +.09%

• Emerging Markets Currency Volatility(VXY) 10.82 -2.08%

• S&P 500 Implied Correlation 64.49 +1.24%

• ISE Sentiment Index 69.0 -29.59%

• Total Put/Call .85 +11.84%

• NYSE Arms .87 -19.95% 

Credit Investor Angst:

• North American Investment Grade CDS Index 64.30 -1.05% 
• America Energy Sector High-Yield CDS Index 629.0 +3.62%

• European Financial Sector CDS Index 62.38 -1.39%

• Western Europe Sovereign Debt CDS Index 27.74 +3.80%
• Asia Pacific Sovereign Debt CDS Index 64.55 -1.01%

• Emerging Market CDS Index 324.22 +1.74%

• China Blended Corporate Spread Index 343.30 -.36%
• 2-Year Swap Spread 18.5 -4.75 basis points

• TED Spread 21.75 -1.0 basis points

• 3-Month EUR/USD Cross-Currency Basis Swap -14.25 +.5 basis point

Economic Gauges:

• 3-Month T-Bill Yield .02% unch.

• Yield Curve 152.0 +2.0 basis points

• China Import Iron Ore Spot $66.84/Metric Tonne -1.56%

• Citi US Economic Surprise Index 36.90 4.2 points
• Citi Eurozone Economic Surprise Index 2.10 +.2 point

• Citi Emerging Markets Economic Surprise Index -14.0 -1.2 points

• 10-Year TIPS Spread 1.71 +4.0 basis points

Overseas Futures:

• Nikkei Futures: Indicating +320 open in Japan

• DAX Futures: Indicating +6 open in Germany

Portfolio: 

• Slightly Lower: On losses in my biotech/medical sector longs

• Disclosed Trades: None

• Market Exposure: 50% Net Long