Night Trading
- Asian equity indices are -.25% to +.75% on average.
- Asia Ex-Japan Investment Grade CDS Index 134.75 -7.25 basis points.
- China Sovereign CDS 77.0 -6.0 basis points.
- China Iron Ore Spot 122.8 USD/Metric Tonne -.08%.
- Bloomberg Emerging Markets Currency Index 47.8 -.06%.
- Bloomberg Global Risk-On/Risk Off Index 53.8 +1.5%.
- Bloomberg US Financial Conditions Index -.45 -6.0 basis points.
- Volatility Index(VIX) futures 21.1 +.8%.
- Euro Stoxx 50 futures +.19%.
- S&P 500 futures -.05%.
- NASDAQ 100 futures -.17%.
BOTTOM LINE: Asian indices are mostly higher, boosted by technology and commodity shares in the region. I expect US stocks to open mixed and to rally into the afternoon, finishing modestly higher. The Portfolio is 50% net long heading into the day.
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