Night Trading
- Asian equity indices are -.5% to +.25% on average.
- Asia Ex-Japan Investment Grade CDS Index 103.0 -.75 basis point.
- China Sovereign CDS 68.75 -2.0 basis points.
- China Iron Ore Spot 108.1 USD/Metric Tonne +.5%.
- Bloomberg Emerging Markets Currency Index 39.8 +.02%
- Bloomberg Global Risk-On/Risk Off Index 68.7 +1.6%.
- Volatility Index(VIX) futures 15.8 -.5%.
- Euro Stoxx 50 futures +.42%
- S&P 500 futures +.09%.
- NASDAQ 100 futures +.10%.
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 50% net long heading into the day.
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