Stocks Higher into Final Hour on Greek Deal Hopes, Less Eurozone Debt Angst, Bargain-Hunting, Gaming/Insurance Sector Strength

Broad Equity Market Tone:

• Advance/Decline Line: About Even
  

• Sector Performance: Mixed
  

• Volume: Around Average

• Market Leading Stocks: Underperforming

Equity Investor Angst:

• Volatility(VIX) 17.18 -5.76%

• Euro/Yen Carry Return Index 142.26 -.17%

• Emerging Markets Currency Volatility(VXY) 8.96 -1.32%

• S&P 500 Implied Correlation 61.08 -2.88%

• ISE Sentiment Index 70.0 -30.0%

• Total Put/Call 1.15 +2.68%

• NYSE Arms 1.36 +5.01% 

Credit Investor Angst:

• North American Investment Grade CDS Index 69.11 -1.32%

• America Energy Sector High-Yield CDS Index 1,213.0 +7.0%

• European Financial Sector CDS Index 87.48 -1.84%

• Western Europe Sovereign Debt CDS Index 26.15 -8.71%

• Asia Pacific Sovereign Debt CDS Index 58.72 -1.85%

• Emerging Market CDS Index 307.42 -.37%
  

• iBoxx Offshore RMB China Corporates High Yield Index 120.69 +.01%

• 2-Year Swap Spread 24.5 -1.25 basis points

• TED Spread 27.25 -2.5 basis points

• 3-Month EUR/USD Cross-Currency Basis Swap -20.75 +1.0 basis point

Economic Gauges:

• 3-Month T-Bill Yield .02% +2.0 basis points

• Yield Curve 173.0 +2.0 basis points

• China Import Iron Ore Spot $59.20/Metric Tonne -.25%

• Citi US Economic Surprise Index -24.10 +4.7 points

• Citi Eurozone Economic Surprise Index -4.9 +.1 point

• Citi Emerging Markets Economic Surprise Index -21.40 +.9 point

• 10-Year TIPS Spread 1.91 +2.0 basis points

Overseas Futures:

• Nikkei 225 Futures: Indicating +198 open in Japan 
• China A50 Futures: Indicating -220 open in China

• DAX Futures: Indicating -48 open in Germany

Portfolio: 

• Higher: On gains in my retail/medical/tech sector longs and emerging markets shorts

• Disclosed Trades: Added to my (IWM)/(QQQ) hedges

• Market Exposure: Moved to 25% Net Long