Night Trading
- Asian equity indices are -.5% to +.25% on average.
- Asia Ex-Japan Investment Grade CDS Index 98.75 +.5 basis point.
- China Sovereign CDS 59.5 +2.0 basis points.
- China Iron Ore Spot 130.0 USD/Metric Tonne +.32%.
- Bloomberg Emerging Markets Currency Index 41.7 -.02%.
- Bloomberg Global Risk-On/Risk Off Index 63.9 +2.8%.
- Bloomberg US Financial Conditions Index .52 +6.0 basis points.
- Volatility Index(VIX) futures 13.8 +.31%.
- Euro Stoxx 50 futures +.18%.
- S&P 500 futures -.08%.
- NASDAQ 100 futures -.17%.
BOTTOM LINE: Asian indices are mostly lower, weighed down by technology and commodity shares in the region. I expect US stocks to open mixed and to rally into the afternoon, finishing modestly higher. The Portfolio is 100% net long heading into the day.
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