Monday, February 20, 2023

Tuesday Watch

Posted by Gary .....at 10:32 PM

Night Trading

  • Asian indices are -.5% to unch. on average.
  • Asia Ex-Japan Investment Grade CDS Index 116.0 +5.75 basis points.
  • China Sovereign CDS 66.5 +3.75 basis points.
  • China Iron Ore Spot 131.0 USD/Metric Tonne +2.0%
  • Bloomberg Emerging Markets Currency Index 47.7 +.06%.
  • Bloomberg Global Risk-On/Risk Off Index 61.2 +.2%.
  • Bloomberg US Financial Conditions Index .26 -1.0 basis point. 
  • Volatility Index(VIX) futures 21.8 +2.4%. 
  • Euro Stoxx 50 futures -.09%.
  • S&P 500 futures -.45%.
  • NASDAQ 100 futures -.37%.

BOTTOM LINE: Asian indices are modestly lower, weighed down by financial and industrial shares in the region. I expect US stocks to open mixed and to weaken into the afternoon, finishing modestly lower.  The Portfolio is 25% net long heading into the week.

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