Night Trading
- Asian equity indices are +.75% to +1.5% on average.
- Asia Ex-Japan Investment Grade CDS Index 94.75 -2.0 basis points.
- China Sovereign CDS 57.75 -2.0 basis points.
- China Iron Ore Spot 135.2 USD/Metric Tonne +1.2%.
- Bloomberg Emerging Markets Currency Index 41.66 +.08%.
- Bloomberg Global Risk-On/Risk Off Index 56.9 +4.2%.
- Bloomberg US Financial Conditions Index .55 +3.0 basis points.
- Volatility Index(VIX) futures 14.1 -.8%.
- Euro Stoxx 50 futures +1.17%.
- S&P 500 futures +.33%.
- NASDAQ 100 futures +.51%.
BOTTOM LINE: Asian indices are modestly higher, boosted by industrial and consumer shares in the region. I expect US stocks to open modestly higher and to maintain gains into the afternoon. The Portfolio is 100% net long heading into the day.
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