Night Trading
- Asian equity indices are -.5% to +.25% on average.
- Asia Ex-Japan Investment Grade CDS Index 106.0 +3.0 basis points.
- China Sovereign CDS 70.25 +.5 basis point.
- China Iron Ore Spot 107.4 USD/Metric Tonne +.4%.
- Bloomberg Emerging Markets Currency Index 39.6 -.02%
- Bloomberg Global Risk-On/Risk Off Index 70.7 +.9%.
- Volatility Index(VIX) futures 16.0 +.3%.
- Euro Stoxx 50 futures unch.
- S&P 500 futures -.02%.
- NASDAQ 100 futures -.04%.
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 50% net long heading into the day.
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