Night Trading
- Asian equity indices are +.25% to +.75% on average.
- Asia Ex-Japan Investment Grade CDS Index 127.75 -4.75 basis points
- China Sovereign CDS 82.75 -7.0 basis points.
- China Iron Ore Spot 111.5 USD/Metric Tonne +.65%.
- Bloomberg Emerging Markets Currency Index 41.29 +.02%
- Bloomberg Global Risk-On/Risk Off Index 72.4 +1.3%.
- Bloomberg US Financial Conditions Index .01 +5.0 basis points.
- Volatility Index(VIX) futures 17.7 +.53%.
- Euro Stoxx 50 futures n/a.
- S&P 500 futures +.06%.
- NASDAQ 100 futures +.15%.
BOTTOM LINE: Asian indices are modestly higher, boosted by commodity and industrial shares in the region. I expect US stocks to open modestly higher and to weaken into the afternoon, finishing mixed. The Portfolio is 75% net long heading into the day.
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