Night Trading
- Asian equity indices are -1.25% to -.75% on average.
- Asia Ex-Japan Investment Grade CDS Index 102.5 +2.25 basis points.
- China Sovereign CDS 65.5 +.75 basis point.
- China Iron Ore Spot 127.3 USD/Metric Tonne -1.0%.
- Bloomberg Emerging Markets Currency Index 40.3 -.06%.
- Bloomberg Global Risk-On/Risk Off Index 59.2 +5.0%.
- Volatility Index(VIX) futures 15.8 -1.7%.
- Euro Stoxx 50 futures -.23%
- S&P 500 futures +.02%.
- NASDAQ 100 futures +.03%.
BOTTOM LINE: Asian indices are modestly lower, weighed down by industrial and technology shares in the region. I expect US stocks to open modestly higher and to weaken into the afternoon, finishing mixed. The Portfolio is 50% net long heading into the day.
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