Night Trading
- Asian equity indices are -.25% to +.75% on average.
- Asia Ex-Japan Investment Grade CDS Index 77.25 +.25 basis point.
- China Sovereign CDS 64.75 unch.
- China Iron Ore Spot 100.2 USD/Metric Tonne -.6%
- Bloomberg Emerging Markets Currency Index 37.1 -.13%.
- Bloomberg Global Risk-On/Risk Off Index 72.0 +1.2%.
- Volatility Index(VIX) futures 16.2 +.7%.
- Euro Stoxx 50 futures +.62%.
- S&P 500 futures -.16%.
- NASDAQ 100 futures -.23%.
BOTTOM LINE: Asian indices are modestly higher, boosted by consumer 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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