Stocks Higher into Final Hour on China Trade Deal Hopes, Technical Buying, Bargain-Hunting, Biotech/Gaming Sector Strength

 Broad Equity Market Tone:

• Advance/Decline Line: Slightly Higher
  

• Sector Performance: Mixed
  

• Volume: Below Average

• Market Leading Stocks: Performing In Line

Equity Investor Angst:

• Volatility(VIX) 26.6 -6.1%

• Euro/Yen Carry Return Index 130.53 -.48%

• Emerging Markets Currency Volatility(VXY) 9.73 +.1%

• S&P 500 Implied Correlation 50.26 unch.

• ISE Sentiment Index 65.0 -31.6%
  

• Total Put/Call 1.02 +32.5%

• NYSE Arms 1.33 -22.7%

Credit Investor Angst:

• North American Investment Grade CDS Index 87.79 -.66%
  

• America Energy Sector High-Yield CDS Index 802.0 -.84%

• European Financial Sector CDS Index 109.09 -2.59%

• Italian/German 10Y Yld Spread 250.0 unch.
  

• Asia Pacific Sovereign Debt CDS Index 11.75 unch.

• Emerging Market CDS Index 208.08 -.30%
  

• iBoxx Offshore RMB China Corporate High Yield Index 151.80 +.45%

• 2-Year Swap Spread 16.5 +2.0 basis points

• TED Spread 42.75 +1.5 basis points

• 3-Month EUR/USD Cross-Currency Basis Swap 2.50 +1.0 basis point

Economic Gauges:

• Bloomberg Emerging Markets Currency Index 67.06 +.257%

• 3-Month T-Bill Yield 2.35% -2.0 basis points

• Yield Curve 19.75 -.75 basis point

• China Iron Ore Spot 71.12 USD/Metric Tonne +1.6%

• Citi US Economic Surprise Index -23.8 -5.9 points

• Citi Eurozone Economic Surprise Index -71.8 +1.5 points

• Citi Emerging Markets Economic Surprise Index -10.6 -2.9 points

• 10-Year TIPS Spread 1.71 -3.0 basis points

• 2.0% chance of Fed rate hike at March 20th meeting, 4.0% chance at May 1st meeting

Overseas Futures:

• Nikkei 225 Futures: Indicating -209 open in Japan 

• China A50 Futures: Indicating -15 open in China

• DAX Futures: Indicating n/a open in Germany

Portfolio: 

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

• Disclosed Trades: None

• Market Exposure: 75% Net Long