Night Trading
- Asian equity indices are -1.5% to -.5% on average.
- Asia Ex-Japan Investment Grade CDS Index 93.0 +1.0 basis point.
- China Sovereign CDS 58.25 +.75 basis point.
- China Iron Ore Spot 101.2 USD/Metric Tonne +.3%
- Bloomberg Emerging Markets Currency Index 38.9 -.11%.
- Bloomberg Global Risk-On/Risk Off Index 53.5 -.03%.
- Volatility Index(VIX) futures 16.8 +1.4%.
- Euro Stoxx 50 futures n/a.
- S&P 500 futures -.66%.
- NASDAQ 100 futures -1.1%.
BOTTOM LINE: Asian indices are mostly lower, weighed down by consumer and technology shares in the region. I expect US stocks to open modestly lower and to maintain losses into the afternoon. The Portfolio is 50% net long heading into the day.
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