Monday Watch

Night Trading

• Asian indices are +.5% to +.25% on average.
• Asia Ex-Japan Investment Grade CDS Index 130.25 -.25 basis point
  
• China Sovereign CDS 71.75 -1.0 basis point.
• China Iron Ore Spot 101.7 USD/Metric Tonne +2.3%
  
• Bloomberg Emerging Markets Currency Index 47.6 -.02%.
• Bloomberg Global Risk-On/Risk Off Index 53.8 +2.0%.
• Bloomberg US Financial Conditions Index -.08 -6.0 basis points. 
  
• Volatility Index(VIX) futures 20.7 +.9%. 
• Euro Stoxx 50 futures -.07%.
• S&P 500 futures -.22%.
• NASDAQ 100 futures -.28%.

Morning Preview Links

BOTTOM LINE: Asian indices are mostly lower, weighed down by industrial and financial 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 week.