Night Trading
- Asian equity indices are -.5% to +.25% on average.
- Asia Ex-Japan Investment Grade CDS Index 73.75 unch.
- China Sovereign CDS 63.25 -.5 basis point.
- China Iron Ore Spot 102.0 USD/Metric Tonne +1.0%
- Bloomberg Emerging Markets Currency Index 37.7 -.03%.
- Bloomberg Global Risk-On/Risk Off Index 66.3 +.9%.
- Volatility Index(VIX) futures 17.2 +1.2%.
- Euro Stoxx 50 futures +.11%
- S&P 500 futures -.33%.
- NASDAQ 100 futures -.49%.
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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