Stocks Slightly Higher into Final Hour on Greece Deal Hopes, Diminished Global Growth Fears, Oil Bounce, Financial/Hospital Sector Strength

Broad Equity Market Tone:

• Advance/Decline Line: Modestly Lower
  

• Sector Performance: Mixed
  

• Volume: Below Average

• Market Leading Stocks: Performing In Line

Equity Investor Angst:

• Volatility(VIX) 14.82 -3.07%

• Euro/Yen Carry Return Index 146.66 -.13%

• Emerging Markets Currency Volatility(VXY) 9.61 -1.03%

• S&P 500 Implied Correlation 62.61 -2.63%

• ISE Sentiment Index 96.0 +7.87%

• Total Put/Call .91 -9.90%

• NYSE Arms .55 -50.30% 

Credit Investor Angst:

• North American Investment Grade CDS Index 67.73 -.75%

• America Energy Sector High-Yield CDS Index 1,510.0 +29.26%

• European Financial Sector CDS Index 79.73 +1.01%

• Western Europe Sovereign Debt CDS Index 23.77 +1.65%

• Asia Pacific Sovereign Debt CDS Index 63.42 +.62%

• Emerging Market CDS Index 315.24 +.73%
  

• iBoxx Offshore RMB China Corporates High Yield Index 120.17 -.04%

• 2-Year Swap Spread 25.5 +.75 unch.

• TED Spread 27.0 +.5 basis point

• 3-Month EUR/USD Cross-Currency Basis Swap -17.0 -.75 basis point

Economic Gauges:

• 3-Month T-Bill Yield .01% unch.

• Yield Curve 171.0 +1.0 basis point

• China Import Iron Ore Spot $64.27/Metric Tonne -.11%

• Citi US Economic Surprise Index -42.70 +1.9 points

• Citi Eurozone Economic Surprise Index 5.90 -.3 point

• Citi Emerging Markets Economic Surprise Index -17.60 unch.

• 10-Year TIPS Spread 1.90 +2.0 basis points

Overseas Futures:

• Nikkei 225 Futures: Indicating +163 open in Japan 
• China A50 Futures: Indicating -442 open in China

• DAX Futures: Indicating -24 open in Germany

Portfolio: 

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

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

• Market Exposure: Moved to 50% Net Long