Night Trading
- Asian equity indices are -.75% to -.25% on average.
- Asia Ex-Japan Investment Grade CDS Index 121.5 -2.5 basis points.
- China Sovereign CDS 70.0 -2.5 basis points.
- China Iron Ore Spot 123.2 USD/Metric Tonne -.5%.
- Bloomberg Emerging Markets Currency Index 41.5 -.06%.
- Bloomberg Global Risk-On/Risk Off Index 68.0 +3.7%
- Bloomberg US Financial Conditions Index .06 -3.0 basis points.
- Volatility Index(VIX) futures 16.5 +.5%.
- Euro Stoxx 50 futures -.17%.
- S&P 500 futures -.22%.
- NASDAQ 100 futures -.19%.
BOTTOM LINE: Asian indices are modestly lower, weighed down by technology and financial shares in the region. I expect US stocks to open modestly lower and to rally into the afternoon, finishing mixed. The Portfolio is 75% net long heading into the day.
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