Night Trading
- Asian equity indices are -.25% to +.75% on average.
- Asia Ex-Japan Investment Grade CDS Index 119.0 -.5 basis point.
- China Sovereign CDS 62.0 -.25 basis point.
- China Iron Ore Spot 113.2 USD/Metric Tonne +.56%.
- Bloomberg Emerging Markets Currency Index 43.7 -.04%.
- Bloomberg Global Risk-On/Risk Off Index 61.5 +1.1%.
- Bloomberg US Financial Conditions Index .25 +12.0 basis points.
- Volatility Index(VIX) futures 15.7 +.6%.
- Euro Stoxx 50 futures +.28%.
- S&P 500 futures -.21%.
- NASDAQ 100 futures -.42%.
BOTTOM LINE: Asian indices are mostly higher, boosted by technology and industrial 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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