Night Trading
- Asian equity indices are -1.0% to -.5% on average.
- Asia Ex-Japan Investment Grade CDS Index 106.0 +3.0 basis points.
- China Sovereign CDS 69.75 +1.0 basis point.
- China Iron Ore Spot 106.6 USD/Metric Tonne -.19%.
- Bloomberg Emerging Markets Currency Index 39.6 -.04%
- Bloomberg Global Risk-On/Risk Off Index 70.2 +2.7%.
- Volatility Index(VIX) futures 16.4 +1.7%.
- Euro Stoxx 50 futures -.18%
- S&P 500 futures -.19%.
- NASDAQ 100 futures -.18%.
BOTTOM LINE: Asian indices are mostly 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 modestly lower. The Portfolio is 25% net long heading into the day.
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