Night Trading
- Asian equity indices are -.5% to +.25% on average.
- Asia Ex-Japan Investment Grade CDS Index 105.5 +1.0 basis point.
- China Sovereign CDS 58.5 +2.0 basis points.
- China Iron Ore Spot 122.8 USD/Metric Tonne -1.0%.
- Bloomberg Emerging Markets Currency Index 47.9 -.1%.
- Bloomberg Global Risk-On/Risk Off Index 58.7 -.07%.
- Bloomberg US Financial Conditions Index .36 -5.0 basis points.
- Volatility Index(VIX) futures 21.8 +.2%.
- Euro Stoxx 50 futures -.56%.
- S&P 500 futures -.06%.
- NASDAQ 100 futures -.12%.
BOTTOM LINE: Asian indices are modestly lower, weighed down by consumer and industrial shares in the region. I expect US stocks to open modestly lower and to rally into the afternoon, finishing mixed. The Portfolio is 50% net long heading into the day.
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