Night Trading
- Asian equity indices are -1.0% to unch. on average.
- Asia Ex-Japan Investment Grade CDS Index 127.75 unch.
- China Sovereign CDS 84.5 +1.75 basis points.
- China Iron Ore Spot 117.5 USD/Metric Tonne -.68%.
- Bloomberg Emerging Markets Currency Index 41.5 unch.
- Bloomberg Global Risk-On/Risk Off Index 73.3 +.07%.
- Bloomberg US Financial Conditions Index 9.0 +4.0 basis points.
- Volatility Index(VIX) futures 17.4 -.1%.
- Euro Stoxx 50 futures unch.
- S&P 500 futures -.03%.
- NASDAQ 100 futures -.02%.
BOTTOM LINE: Asian indices are modestly lower, weighed down by commodity and financial 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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