Night Trading
- Asian equity indices are -.25% to +.5% on average.
- Asia Ex-Japan Investment Grade CDS Index 108.25 -1.75 basis points.
- China Sovereign CDS 60.5 -1.0 basis point.
- China Iron Ore Spot 112.3 USD/Metric Tonne -1.3%.
- Bloomberg Emerging Markets Currency Index 43.5 -.06%.
- Bloomberg Global Risk-On/Risk Off Index 64.1 -.15%.
- Bloomberg US Financial Conditions Index .38 +2.0 basis points.
- Volatility Index(VIX) futures 15.5 -.23%.
- Euro Stoxx 50 futures +.14%.
- S&P 500 futures -.03%.
- NASDAQ 100 futures -.07%.
BOTTOM LINE: Asian indices are mostly higher, boosted by industrial and commodity shares in the region. I expect US stocks to open mixed and to rally into the afternoon, finishing modestly higher. The Portfolio is 100% net long heading into the day.
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