Night Trading
- Asian equity indices are -1.0% to -.5% on average.
- Asia Ex-Japan Investment Grade CDS Index 128.25 +2.25 basis points.
- China Sovereign CDS 82.25 +2.5 basis points.
- China Iron Ore Spot 114.6 USD/Metric Tonne -.40%.
- Bloomberg Emerging Markets Currency Index 41.76 -.04%.
- Bloomberg Global Risk-On/Risk Off Index 70.0 +.63%.
- Bloomberg US Financial Conditions Index 3.0 -3.0 basis points.
- Volatility Index(VIX) futures 18.9 -1.6%.
- Euro Stoxx 50 futures n/a.
- S&P 500 futures +.12%.
- NASDAQ 100 futures +.13%.
BOTTOM LINE: Asian indices are modestly lower, weighed down by technology 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 25% net long heading into the day.
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