Night Trading
- Asian equity indices are -.5% to +.25% on average.
- Asia Ex-Japan Investment Grade CDS Index 92.0 -1.0 basis point.
- China Sovereign CDS 57.5 +.24 basis point.
- China Iron Ore Spot 100.3 USD/Metric Tonne -.1%
- Bloomberg Emerging Markets Currency Index 39.0 unch.
- Bloomberg Global Risk-On/Risk Off Index 54.6 +1.7%.
- Volatility Index(VIX) futures 16.2 +1.3%.
- Euro Stoxx 50 futures n/a.
- S&P 500 futures -.11%.
- NASDAQ 100 futures -.13%.
BOTTOM LINE: Asian indices are mostly lower, weighed down by financial and commodity shares in the region. I expect US stocks to open modestly lower and to rally into the afternoon, finishing mixed. The Portfolio is 100% net long heading into the day.
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