Sunday, July 09, 2023

Monday Watch

Posted by Gary .....at 8:56 PM

Night Trading

  • Asian indices are  -.25% to +.25% on average.
  • Asia Ex-Japan Investment Grade CDS Index 119.0 +1.5 basis points.
  • China Sovereign CDS 64.0 +2.0 basis points.
  • China Iron Ore Spot 108.1 USD/Metric Tonne +.32%.
  • Bloomberg Emerging Markets Currency Index 43.3 -.02%.
  • Bloomberg Global Risk-On/Risk Off Index 66.1 +.7%.
  • Bloomberg US Financial Conditions Index .33 -2.0 basis points. 
  • Volatility Index(VIX) futures 17.0 +1.1%. 
  • Euro Stoxx 50 futures -.12%.
  • S&P 500 futures -.10%.
  • NASDAQ 100 futures -.22%.

BOTTOM LINE: Asian indices are slightly higher, boosted by metals&mining and healthcare 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 week.

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