Stocks Falling into Final Hour on Rising Global Growth Fears, Yen Strength, Earnings Concerns, Financial/Tech Sector Weakness

Broad Equity Market Tone:

• Advance/Decline Line: Lower
  

• Sector Performance: Most Sectors Declining
  

• Volume: Around Average

• Market Leading Stocks: Performing In Line

Equity Investor Angst:

• Volatility(VIX) 17.77 +2.78%

• Euro/Yen Carry Return Index 143.83 -.97%

• Emerging Markets Currency Volatility(VXY) 10.21 +.79%

• S&P 500 Implied Correlation 58.48 +1.32%

• ISE Sentiment Index 96.0 -25.0%

• Total Put/Call .81 -1.22%

• NYSE Arms 1.28 +13.42% 

Credit Investor Angst:

• North American Investment Grade CDS Index 71.15 -.71%

• European Financial Sector CDS Index 101.03 +1.08%

• Western Europe Sovereign Debt CDS Index 55.0 -1.79%

• Asia Pacific Sovereign Debt CDS Index 116.52 +1.32%

• Emerging Market CDS Index 339.17 +.30%

• 2-Year Swap Spread 13.0 +.5 basis point

• TED Spread 22.25 unch.

• 3-Month EUR/USD Cross-Currency Basis Swap -7.75 -2.5 basis points

Economic Gauges:

• 3-Month T-Bill Yield .02% unch.

• Yield Curve 232.0 -3.0 basis points

• China Import Iron Ore Spot $122.60/Metric Tonne unch.

• Citi US Economic Surprise Index 49.0 +.9 point

• Citi Emerging Markets Economic Surprise Index 12.50 +1.3 points

• 10-Year TIPS Spread 2.13 -1.0 basis point

Overseas Futures:

• Nikkei Futures: Indicating -160 open in Japan

• DAX Futures: Indicating +2 open in Germany

Portfolio: 

• Lower: On losses in my tech/biotech sector longs

• Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges and some of my (EEM) short, then added them back

• Market Exposure: 50% Net Long