Night Trading
- Asian equity indices are -.25% to +.5% on average.
- Asia Ex-Japan Investment Grade CDS Index 97.0 -2.75 basis points.
- China Sovereign CDS 61.25 -1.75 basis points.
- China Iron Ore Spot 132.0 USD/Metric Tonne -1.7%.
- Bloomberg Emerging Markets Currency Index 41.2 -.05%.
- Bloomberg Global Risk-On/Risk Off Index 60.8 +1.7%.
- Volatility Index(VIX) futures 14.3 +.34%.
- Euro Stoxx 50 futures +.67%.
- S&P 500 futures -.17%.
- NASDAQ 100 futures -.15%.
BOTTOM LINE: Asian indices are mostly higher, boosted by technology and industrial shares in the region. I expect US stocks to open modestly lower and to rally into the afternoon, finishing modestly higher. The Portfolio is 75% net long heading into the day.
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