Meredith Whitney on 60 Minutes: Expect 50+ muni bond defaults in 2011

Home builders’ confidence edged into positive territory for the first time in 11 months, aided by strong demand, low inventory, and a recovering supply chain.

It’s unusual to see both the Dispersion Index and the Implied Correlation Index up at the same time – but stock implied volatility is climbing faster than index-level implied volatility. This is likely because risk is being repriced.

Small-cap stocks look pricey relative to large caps