Night Trading
- Asian equity indices are -.25% to +.25% on average.
- Asia Ex-Japan Investment Grade CDS Index 128.25 unch.
- China Sovereign CDS 82.5 +.25 basis point.
- China Iron Ore Spot 116.0 USD/Metric Tonne -.47%.
- Bloomberg Emerging Markets Currency Index 41.6 -.17%.
- Bloomberg Global Risk-On/Risk Off Index 71.2 -.03%.
- Bloomberg US Financial Conditions Index 9.0 -1.0 basis point.
- Volatility Index(VIX) futures 18.4 +.3%.
- Euro Stoxx 50 futures n/a.
- S&P 500 futures +.13%.
- NASDAQ 100 futures +.17%.
BOTTOM LINE: Asian indices are modestly lower, weighed down by technology and consumer shares in the region. I expect US stocks to open mixed and to rally into the afternoon, finishing modestly higher. The Portfolio is 50% net long heading into the day.
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