Night Trading
- Asian equity indices are -.5% to +.25% on average.
- Asia Ex-Japan Investment Grade CDS Index 73.75 unch.
- China Sovereign CDS 63.5 +.25 basis point
- China Iron Ore Spot 102.9 USD/Metric Tonne +.3%
- Bloomberg Emerging Markets Currency Index 37.5 -.03%
- Bloomberg Global Risk-On/Risk Off Index 66.0 +.3%
- Volatility Index(VIX) futures 15.3 +.5%
- Euro Stoxx 50 futures -.13%
- S&P 500 futures +.05%
- NASDAQ 100 futures unch.
BOTTOM LINE: Asian indices are mostly lower, weighed down by technology and industrial shares in the region. I expect US stocks to open mixed and to rally into the afternoon, finishing modestly higher. The Portfolio is 100% net long heading into the day.
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