Night Trading
- Asian equity indices are -.5% to +.25% on average.
- Asia Ex-Japan Investment Grade CDS Index 80.5 +2.75 basis points.
- China Sovereign CDS 62.0 -.75 basis point.
- China Iron Ore Spot 97.5 USD/Metric Tonne +.4%
- Bloomberg Emerging Markets Currency Index 36.92 -.02%.
- Bloomberg Global Risk-On/Risk Off Index 72.5 +.4%.
- Volatility Index(VIX) futures 18.7 +1.8%.
- Euro Stoxx 50 futures -.14%.
- S&P 500 futures -.44%.
- NASDAQ 100 futures -.55%.
BOTTOM LINE: Asian indices are mostly lower, weighed down by industrial and consumer shares in the region. I expect US stocks to open modestly lower and to rally into the afternoon, finishing mixed. The Portfolio is 50% net long heading into the day.
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