Night Trading
- Asian equity indices are -.5% to +.25% on average.
- Asia Ex-Japan Investment Grade CDS Index 101.75 -.75 basis point.
- China Sovereign CDS 64.5 -.75 basis point.
- China Iron Ore Spot 135.0 USD/Metric Tonne -2.0%.
- Bloomberg Emerging Markets Currency Index 41.18 -.05%.
- Bloomberg Global Risk-On/Risk Off Index 58.2 +1.3%.
- Bloomberg US Financial Conditions Index .84 n/a.
- Volatility Index(VIX) futures 14.5 +.22%.
- Euro Stoxx 50 futures -.11%.
- S&P 500 futures -.02%.
- NASDAQ 100 futures +.02%.
BOTTOM LINE: Asian indices are mostly lower, weighed down by consumer and financial shares in the region. I expect US stocks to open mixed and to rally into the afternoon, finishing modestly higher. The Portfolio is 75% net long heading into the day.
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