Night Trading
- Asian equity indices are -1.5% to -.5% on average.
- Asia Ex-Japan Investment Grade CDS Index 113.25 -.25 basis point.
- China Sovereign CDS 71.25 unch.
- China Iron Ore Spot 114.6 USD/Metric Tonne -1.9%.
- Bloomberg Emerging Markets Currency Index 39.1 -.1%
- Bloomberg Global Risk-On/Risk Off Index 67.5 +2.3%.
- Volatility Index(VIX) futures 17.6 +1.4%.
- Euro Stoxx 50 futures -.88%.
- S&P 500 futures -.37%.
- NASDAQ 100 futures -.52%.
BOTTOM LINE: Asian indices are modestly lower, weighed down by industrial and technology shares in the region. I expect US stocks to open modestly lower and to maintain losses into the afternoon. The Portfolio is 25% net long heading into the day.
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