Stocks Higher into Final Hour on Central Bank Hopes, Short-Covering, Technical Buying, Healthcare/Financial Sector Strength

Broad Equity Market Tone:

• Advance/Decline Line: Modestly Higher
  

• Sector Performance: Most Sectors Rising
  

• Volume: Below Average

• Market Leading Stocks: Performing In Line

Equity Investor Angst:

• Volatility(VIX) 12.96 +2.05%

• Euro/Yen Carry Return Index 139.84 -.54%

• Emerging Markets Currency Volatility(VXY) 10.41 +1.36%

• S&P 500 Implied Correlation 64.63 -.51%

• ISE Sentiment Index 92.0 -20.0%

• Total Put/Call .94 -2.06%

• NYSE Arms .87 +51.79% 

Credit Investor Angst:

• North American Investment Grade CDS Index 62.80 -.16%

• America Energy Sector High-Yield CDS Index 1,085.0 +.19%

• European Financial Sector CDS Index 70.42 unch.

• Western Europe Sovereign Debt CDS Index 22.74 -.29%

• Asia Pacific Sovereign Debt CDS Index 60.08 -.72%

• Emerging Market CDS Index 299.85 -.15%
  

• iBoxx Offshore RMB China Corporates High Yield Index 117.95 -.08%

• 2-Year Swap Spread 25.75 -.25 basis point

• TED Spread 28.0 +.25 basis point

• 3-Month EUR/USD Cross-Currency Basis Swap -19.75 unch.

Economic Gauges:

• 3-Month T-Bill Yield .00% unch.

• Yield Curve 153.0 +2.0 basis points

• China Import Iron Ore Spot $56.18/Metric Tonne n/a

• Citi US Economic Surprise Index -56.10 +6.2 points

• Citi Eurozone Economic Surprise Index 6.50 -4.3 points

• Citi Emerging Markets Economic Surprise Index -18.20 -2.2 points

• 10-Year TIPS Spread 1.92 -3.0 basis points

Overseas Futures:

• Nikkei Futures: Indicating +254 open in Japan

• DAX Futures: Indicating +16 open in Germany

Portfolio: 

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

• Disclosed Trades: None

• Market Exposure: 50% Net Long