Night Trading
- Asian equity indices are -.75% to +.25% on average.
- Asia Ex-Japan Investment Grade CDS Index 97.75 +.5 basis point.
- China Sovereign CDS 59.5 +2.5 basis point2.
- China Iron Ore Spot 128.6 USD/Metric Tonne -.22%.
- Bloomberg Emerging Markets Currency Index 41.6 unch.
- Bloomberg Global Risk-On/Risk Off Index 62.3 +3.7%.
- Bloomberg US Financial Conditions Index .46 -5.0 basis points.
- Volatility Index(VIX) futures 15.6 +.5%.
- Euro Stoxx 50 futures +.09%.
- S&P 500 futures -.16%.
- NASDAQ 100 futures -.15%.
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 75% net long heading into the day.
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