Night Trading
- Asian equity indices are -.5% to +.25% on average.
- Asia Ex-Japan Investment Grade CDS Index 132.75 -3.5 basis points.
- China Sovereign CDS 82.0 -3.75 basis points.
- China Iron Ore Spot 116.9 USD/Metric Tonne +.65%.
- Bloomberg Emerging Markets Currency Index 41.24 -.2%
- Bloomberg Global Risk-On/Risk Off Index 66.7 +2.0%.
- Bloomberg US Financial Conditions Index -.14 +2.0 basis points.
- Volatility Index(VIX) futures 19.3 +.9%.
- Euro Stoxx 50 futures +.2%.
- S&P 500 futures -.19%.
- NASDAQ 100 futures -.35%.
BOTTOM LINE: Asian indices are mostly lower, weighed down by technology and commodity shares in the region. I expect US stocks to open modestly lower and to rally into the afternoon, finishing mixed. The Portfolio is 50% net long heading into the day.
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