Night Trading
- Asian equity indices are -.25% to +.5% on average.
- Asia Ex-Japan Investment Grade CDS Index 138.75 +2.25 basis points.
- China Sovereign CDS 84.25 +.5 basis point.
- China Iron Ore Spot 116.2 USD/Metric Tonne -.77%.
- Bloomberg Emerging Markets Currency Index 41.22 +.01%
- Bloomberg Global Risk-On/Risk Off Index 66.3 +2.60%.
- Bloomberg US Financial Conditions Index -.30 +1.0 basis point.
- Volatility Index(VIX) futures 20.2 -1.9%.
- Euro Stoxx 50 futures +.07%.
- S&P 500 futures +.41%.
- NASDAQ 100 futures +.61%.
BOTTOM LINE: Asian indices are mostly higher, boosted by industrial and commodity 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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