Night Trading
- Asian equity indices are -.5% to +.25% on average.
- Asia Ex-Japan Investment Grade CDS Index 100.25 +2.5 basis points.
- China Sovereign CDS 64.0 unch.
- China Iron Ore Spot 128.2 USD/Metric Tonne -.9%.
- Bloomberg Emerging Markets Currency Index 40.96 -.05%.
- Bloomberg Global Risk-On/Risk Off Index 58.3 +.7%.
- Volatility Index(VIX) futures 14.9 -.9%.
- Euro Stoxx 50 futures -.36%.
- S&P 500 futures -.08%.
- NASDAQ 100 futures -.08%.
BOTTOM LINE: Asian indices are mostly lower, weighed down by commodity and industrial shares in the region. I expect US stocks to open modestly lower and to rally into the afternoon, finishing mixed. The Portfolio is 50% net long heading into the day.
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