Night Trading
- Asian equity indices are -.5% to +.25% on average.
- Asia Ex-Japan Investment Grade CDS Index 106.75 +.25 basis point.
- China Sovereign CDS 65.25 -.25 basis point.
- China Iron Ore Spot 130.3 USD/Metric Tonne -.5%.
- Bloomberg Emerging Markets Currency Index 41.8 -.03%.
- Bloomberg Global Risk-On/Risk Off Index 66.9 +1.3%
- Bloomberg US Financial Conditions Index .29 -1.0 basis point.
- Volatility Index(VIX) futures 15.2 +.4%.
- Euro Stoxx 50 futures +.39%.
- S&P 500 futures +.08%.
- NASDAQ 100 futures -.03%.
BOTTOM LINE: Asian indices are mostly lower, weighed down by technology and industrial shares in the region. I expect US stocks to open mixed and to rally into the afternoon, finishing modestly higher. The Portfolio is 75% net long heading into the day.
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