Night Trading
- Asian equity indices are -.5% to +.25% on average.
- Asia Ex-Japan Investment Grade CDS Index 132.25 +2.25 basis points.
- China Sovereign CDS 74.5 +.25 basis point.
- China Iron Ore Spot 117.1 USD/Metric Tonne -.64%.
- Bloomberg Emerging Markets Currency Index 47.7 -.09%.
- Bloomberg Global Risk-On/Risk Off Index 53.8 +1.7%.
- Bloomberg US Financial Conditions Index -.45 -6.0 basis points.
- Volatility Index(VIX) futures 22.1 +1.2%.
- Euro Stoxx 50 futures +.12%.
- S&P 500 futures -.18%.
- NASDAQ 100 futures -.30%.
BOTTOM LINE: Asian indices are mostly lower, weighed down by technology and industrial shares in the region. I expect US stocks to open modestly lower and to rally into the afternoon, finishing mixed. The Portfolio is 25% net long heading into the day.
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