Night Trading
- Asian equity indices are -1.0% to unch. on average.
- Asia Ex-Japan Investment Grade CDS Index 76.25 +.25 basis point.
- China Sovereign CDS 65.75 unch.
- China Iron Ore Spot 101.0 USD/Metric Tonne -.8%
- Bloomberg Emerging Markets Currency Index 37.0 -.08%.
- Bloomberg Global Risk-On/Risk Off Index 63.1 -.1%.
- Volatility Index(VIX) futures 21.6 -.7%.
- Euro Stoxx 50 futures -.5%
- S&P 500 futures -.31%.
- NASDAQ 100 futures -.51%.
BOTTOM LINE: Asian indices are mostly lower, weighed down by technology and commodity shares in the region. I expect US stocks to open modestly lower and to maintain losses into the afternoon. The Portfolio is 25% net long heading into the day.
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