Night Trading
- Asian equity indices are -.5% to +.25% on average.
- Asia Ex-Japan Investment Grade CDS Index 73.75 +.25 basis point.
- China Sovereign CDS 63.75 unch.
- China Iron Ore Spot 101.0 USD/Metric Tonne -.03%
- Bloomberg Emerging Markets Currency Index 37.8 +.02%.
- Bloomberg Global Risk-On/Risk Off Index 66.5 +.9%.
- Volatility Index(VIX) futures 16.2 -1.6%.
- Euro Stoxx 50 futures +.21%
- S&P 500 futures +.11%.
- NASDAQ 100 futures +.10%.
BOTTOM LINE: Asian indices are mostly lower, weighed down by commodity and consumer shares in the region. I expect US stocks to open mixed and to rally into the afternoon, finishing modestly higher. The Portfolio is 75% net long heading into the day.
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