Night Trading
- Asian equity indices are -.75% to +.25% on average.
- Asia Ex-Japan Investment Grade CDS Index 96.75 +2.25 basis points.
- China Sovereign CDS 65.0 +1.5 basis points.
- China Iron Ore Spot 115.6 USD/Metric Tonne +.2%.
- Bloomberg Emerging Markets Currency Index 40.1 -.03%.
- Bloomberg Global Risk-On/Risk Off Index 73.2 +2.0%.
- Volatility Index(VIX) futures 14.3 +.34%.
- Euro Stoxx 50 futures -.18%
- S&P 500 futures -.1%.
- NASDAQ 100 futures -.17%.
BOTTOM LINE: Asian indices are mostly lower, weighed down by financial and technology 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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