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%.
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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