Night Trading
- Asian equity indices are -.25% to +.5% on average.
- Asia Ex-Japan Investment Grade CDS Index 121.0 -1.0 basis point.
- China Sovereign CDS 71.75 -.25 basis point.
- China Iron Ore Spot 117.6 USD/Metric Tonne +.21%.
- Bloomberg Emerging Markets Currency Index 42.3 -.02%.
- Bloomberg Global Risk-On/Risk Off Index 73.5 +1.9%.
- Bloomberg US Financial Conditions Index 46.0 -2.0 basis points.
- Volatility Index(VIX) futures 15.9 +.44%.
- Euro Stoxx 50 futures n/a.
- S&P 500 futures -.12%.
- NASDAQ 100 futures -.12%.
BOTTOM LINE: Asian indices are mostly higher, boosted by consumer and industrial shares in the region. I expect US stocks to open modestly lower and to rally into the afternoon, finishing mixed. The Portfolio is 75% net long heading into the day.
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