Night Trading
- Asian equity indices are -.5% to +.25% on average.
- Asia Ex-Japan Investment Grade CDS Index 132.75 -2.5 basis points.
- China Sovereign CDS 76.0 +.75 basis point.
- China Iron Ore Spot 103.7 USD/Metric Tonne -1.7%.
- Bloomberg Emerging Markets Currency Index 47.9 -.05%.
- Bloomberg Global Risk-On/Risk Off Index 56.0 +1.8%.
- Bloomberg US Financial Conditions Index .00 -4.0 basis points.
- Volatility Index(VIX) futures 21.0 +.31%.
- Euro Stoxx 50 futures +.14%.
- S&P 500 futures -.07%.
- NASDAQ 100 futures -.14%.
BOTTOM LINE: Asian indices are mostly lower, weighed down by commodity and financial shares in the region. I expect US stocks to open mixed and to rally into the afternoon, finishing modestly higher. The Portfolio is 50% net long heading into the day.
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