Stocks Higher into Final Hour on Central Bank Hopes, Diminished Scotland Indepenence Fears, Yen Weakness, Financial/Tech Sector Strength

Broad Equity Market Tone:

• Advance/Decline Line: Modestly Higher
  

• Sector Performance: Mixed
  

• Volume: Below Average

• Market Leading Stocks: Performing In Line

Equity Investor Angst:

• Volatility(VIX) 12.23 -3.32%

• Euro/Yen Carry Return Index 146.68 -.75%

• Emerging Markets Currency Volatility(VXY) 7.34 -1.48%

• S&P 500 Implied Correlation 44.58 -1.0%

• ISE Sentiment Index 148.0 +20.33%

• Total Put/Call .88 -7.37%

• NYSE Arms 1.17 +20.20% 

Credit Investor Angst:

• North American Investment Grade CDS Index 58.29 -2.49%

• European Financial Sector CDS Index 56.97 -5.56%

• Western Europe Sovereign Debt CDS Index 27.70 -1.77%
• Asia Pacific Sovereign Debt CDS Index 63.62 -1.23%

• Emerging Market CDS Index 262.15 +2.55%

• China Blended Corporate Spread Index 310.08 +.29%
• 2-Year Swap Spread 24.25 +.25 basis point

• TED Spread 22.0 -.5 basis point

• 3-Month EUR/USD Cross-Currency Basis Swap -10.25 +2.75 basis points

Economic Gauges:

• 3-Month T-Bill Yield .01% -1.0 basis point

• Yield Curve 206.0 unch.

• China Import Iron Ore Spot $83.0/Metric Tonne -1.43%

• Citi US Economic Surprise Index 19.80 -1.0 point

• Citi Emerging Markets Economic Surprise Index -21.60 +.3 basis point

• 10-Year TIPS Spread 2.03 -3.0 basis points

Overseas Futures:

• Nikkei Futures: Indicating +108 open in Japan

• DAX Futures: Indicating -6 open in Germany

Portfolio: 

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

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

• Market Exposure: 50% Net Long