Night Trading
- Asian equity indices are -.5% to +.25% on average.
- Asia Ex-Japan Investment Grade CDS Index 136.25 -1.25 basis points.
- China Sovereign CDS 85.75 -1.25 basis points.
- China Iron Ore Spot 111.9 USD/Metric Tonne -.73%.
- Bloomberg Emerging Markets Currency Index 41.27 +.06%
- Bloomberg Global Risk-On/Risk Off Index 66.5 +1.1%.
- Bloomberg US Financial Conditions Index -.29 -8.0 basis points.
- Volatility Index(VIX) futures 19.9 -.5%.
- Euro Stoxx 50 futures -.35%.
- S&P 500 futures +.18%.
- NASDAQ 100 futures +.19%.
BOTTOM LINE: Asian indices are mostly lower, weighed down by technology and consumer shares in the region. I expect US stocks to open mixed and to weaken into the afternoon, finishing modestly lower. The Portfolio is 50% net long heading into the day.
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