Night Trading
- Asian equity indices are -.25% to +.5% on average.
- Asia Ex-Japan Investment Grade CDS Index 126.75 +.25 basis point.
- China Sovereign CDS 67.75 -1.5 basis points
- China Iron Ore Spot 95.2 USD/Metric Tonne -.5%.
- Bloomberg Emerging Markets Currency Index 46.8 -.04%.
- Bloomberg Global Risk-On/Risk Off Index 59.4 +2.8%.
- Bloomberg US Financial Conditions Index -.12 -6.0 basis points.
- Volatility Index(VIX) futures 20.6 +.9%.
- Euro Stoxx 50 futures +.09%.
- S&P 500 futures -.28%.
- NASDAQ 100 futures -.28%.
BOTTOM LINE: Asian indices are mostly lower, weighed down by commodity and consumer shares in the region. I expect US stocks to open modestly lower and to rally into the afternoon, finishing mixed. The Portfolio is 50% net long heading into the day.
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