Night Trading
- Asian equity indices are -.25% to +.5% on average.
- Asia Ex-Japan Investment Grade CDS Index 116.0 -2.75 basis points.
- China Sovereign CDS 69.75 -2.0 basis points.
- China Iron Ore Spot 119.4 USD/Metric Tonne -.06%.
- Bloomberg Emerging Markets Currency Index 42.3 +.01%.
- Bloomberg Global Risk-On/Risk Off Index 72.9 +.7%.
- Bloomberg US Financial Conditions Index 50.0 -1.0 basis points.
- Volatility Index(VIX) futures 15.6 -.4%.
- Euro Stoxx 50 futures -.19%.
- S&P 500 futures +.13%.
- NASDAQ 100 futures +.18%.
BOTTOM LINE: Asian indices are mostly higher, boosted by technology and industrial 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 day.
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