Night Trading
- Asian equity indices are -.25% to +.5% on average.
- Asia Ex-Japan Investment Grade CDS Index 71.5 +.5 basis point.
- China Sovereign CDS 62.5 +2.25 basis points.
- China Iron Ore Spot 108.4 USD/Metric Tonne -.6%
- Bloomberg Emerging Markets Currency Index 38.8 -.2%.
- Bloomberg Global Risk-On/Risk Off Index 58.5 +4.1%.
- Volatility Index(VIX) futures 19.8 -.8%.
- Euro Stoxx 50 futures +.24%.
- S&P 500 futures +.13%.
- NASDAQ 100 futures +.23%.
BOTTOM LINE: Asian indices are mostly higher, boosted by financial 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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