Night Trading
- Asian equity indices are -.25% to unch. on average.
- Asia Ex-Japan Investment Grade CDS Index 98.0 +2.25 basis points.
- China Sovereign CDS 61.5 +.75 basis point.
- China Iron Ore Spot 101.4 USD/Metric Tonne +.67%.
- Bloomberg Emerging Markets Currency Index 42.6 +.01%.
- Bloomberg Global Risk-On/Risk Off Index 69.4 unch.
- Bloomberg US Financial Conditions Index .33 -1.0 basis point.
- Volatility Index(VIX) futures 17.5 -1.1%.
- Euro Stoxx 50 futures -.25%.
- S&P 500 futures +.16%.
- NASDAQ 100 futures +.32%.
BOTTOM LINE: Asian indices are slightly lower, weighed down by consumer and financial shares in the region. I expect US stocks to open mixed and to weaken into the afternoon, finishing modestly lower. The Portfolio is 50% net long heading into the day.
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