Monday, March 20, 2023

Tuesday Watch

Night Trading 

  • Asian equity indices are -.25% to +.75% on average.
  • Asia Ex-Japan Investment Grade CDS Index 146.25 +9.25 basis points. 
  • China Sovereign CDS 82.25 +6.25 basis points. 
  • China Iron Ore Spot 124.8 USD/Metric Tonne -.56%.
  • Bloomberg Emerging Markets Currency Index 47.3 +.01%.
  • Bloomberg Global Risk-On/Risk Off Index  42.4 -.04%. 
  • Bloomberg US Financial Conditions Index -1.11 +18.0 basis points.
  • Volatility Index(VIX) futures 24.8 -.8%.
  • Euro Stoxx 50 futures +.64%.
  • S&P 500 futures +.22%.
  • NASDAQ 100 futures +.16%.  
Morning Preview Links

BOTTOM LINE: Asian indices are mostly higher, boosted by commodity and technology 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 day.

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