Sunday, June 25, 2023

Monday Watch

Posted by Gary .....at 9:29 PM

Night Trading

  • Asian indices are -.5% to +.25% on average.
  • Asia Ex-Japan Investment Grade CDS Index 116.75 +2.5 basis points.
  • China Sovereign CDS 60.25 +2.0 basis points.
  • China Iron Ore Spot 108.8 USD/Metric Tonne -.4%.
  • Bloomberg Emerging Markets Currency Index 44.2 +.01%.
  • Bloomberg Global Risk-On/Risk Off Index 61.8 +.7%.
  • Bloomberg US Financial Conditions Index .22 -8.0 basis points. 
  • Volatility Index(VIX) futures 16.0 +.16%. 
  • Euro Stoxx 50 futures +.22%.
  • S&P 500 futures +.14%.
  • NASDAQ 100 futures +.16%.

BOTTOM LINE: Asian indices are mostly lower, weighed down by financial and technology shares in the region. I expect US stocks to open modestly higher and to weaken into the afternoon, finishing mixed.  The Portfolio is 50% net long heading into the week.

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