Night Trading
- Asian equity indices are -.5% to +.5% on average.
- Asia Ex-Japan Investment Grade CDS Index 71.75 +.25 basis point.
- China Sovereign CDS 62.75 unch.
- China Iron Ore Spot 100.4 USD/Metric Tonne -.2%
- Bloomberg Emerging Markets Currency Index 37.7 -.05%.
- Bloomberg Global Risk-On/Risk Off Index 70.7 +1.6%.
- Volatility Index(VIX) futures 15.5 -.06%.
- Euro Stoxx 50 futures +.17%
- S&P 500 futures -.02%.
- NASDAQ 100 futures -.09%.
BOTTOM LINE: Asian indices are mostly lower, weighed down by technology and industrial shares in the region. I expect US stocks to open modestly lower and to rally into the afternoon, finishing mixed. The Portfolio is 75% net long heading into the day.
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