Night Trading
- Asian equity indices are -.50% to unch. on average.
- Asia Ex-Japan Investment Grade CDS Index 127.0 +1.75 basis points
- China Sovereign CDS 72.5 +1.25 basis points
- China Iron Ore Spot 111.5 USD/Metric Tonne -3.1%.
- Bloomberg Emerging Markets Currency Index 47.7 -.01%.
- Bloomberg Global Risk-On/Risk Off Index 57.5 +.7%.
- Bloomberg US Financial Conditions Index -.02 -8.0 basis points.
- Volatility Index(VIX) futures 19.8 -.2%.
- Euro Stoxx 50 futures +.12%.
- S&P 500 futures +.04%.
- NASDAQ 100 futures +.16%.
BOTTOM LINE: Asian indices are mostly lower, weighed down by technology and financial shares in the region. I expect US stocks to open modestly higher and to weaken into the afternoon, finishing mixed. The Portfolio is 50% net long heading into the day.
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