Night Trading
- Asian equity indices are -.5% to +.5% on average.
- Asia Ex-Japan Investment Grade CDS Index 129.5 unch.
- China Sovereign CDS 72.25 -.25 basis point.
- China Iron Ore Spot 101.6 USD/Metric Tonne -.3%.
- Bloomberg Emerging Markets Currency Index 47.6 unch.
- Bloomberg Global Risk-On/Risk Off Index 57.1 +1.3%.
- Bloomberg US Financial Conditions Index .14 +7.0 basis points.
- Volatility Index(VIX) futures 21.2 +1.9%.
- Euro Stoxx 50 futures +.21%.
- S&P 500 futures -.08%.
- NASDAQ 100 futures -.10%.
BOTTOM LINE: Asian indices are modestly lower, weighed down by industrial and financial 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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