Night Trading
- Asian equity indices are -.75% to -.25% on average.
- Asia Ex-Japan Investment Grade CDS Index 130.25 +2.5 basis points.
- China Sovereign CDS 74.5 +1.75 basis points.
- China Iron Ore Spot 100.15 USD/Metric Tonne -2.2%.
- Bloomberg Emerging Markets Currency Index 47.7 unch.
- Bloomberg Global Risk-On/Risk Off Index 54.3 +1.6%.
- Bloomberg US Financial Conditions Index -.24 -3.0 basis points.
- Volatility Index(VIX) futures 20.6 -2.2%.
- Euro Stoxx 50 futures -.60%.
- S&P 500 futures +.38%.
- NASDAQ 100 futures +1.11%.
BOTTOM LINE: Asian indices are mostly lower, weighed down by financial and commodity shares in the region. I expect US stocks to open modestly higher and to weaken into the afternoon, finishing mixed. The Portfolio is 25% net long heading into the day.
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