Night Trading
- Asian equity indices are unch. to +.5% on average.
- Asia Ex-Japan Investment Grade CDS Index 129.5 -2.0 basis points.
- China Sovereign CDS 72.5 -3.0 basis points.
- China Iron Ore Spot 104.4 USD/Metric Tonne +.4%.
- Bloomberg Emerging Markets Currency Index 47.6 unch.
- Bloomberg Global Risk-On/Risk Off Index 58.7 +2.6%.
- Bloomberg US Financial Conditions Index .12 -4.0 basis points.
- Volatility Index(VIX) futures 19.6 +.5%.
- Euro Stoxx 50 futures +.37%.
- S&P 500 futures -.14%.
- NASDAQ 100 futures -.19%.
BOTTOM LINE: Asian indices are modestly higher, boosted by technology and consumer 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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