Night Trading
- Asian equity indices are -.5% to +.25% on average.
- Asia Ex-Japan Investment Grade CDS Index 75.0 +.5 basis point.
- China Sovereign CDS 56.5 +.25 basis point.
- China Iron Ore Spot 104.5 USD/Metric Tonne +.9%
- Bloomberg Emerging Markets Currency Index 37.1 unch.
- Bloomberg Global Risk-On/Risk Off Index 73.5 +.12%.
- Volatility Index(VIX) futures 16.8 +.34%.
- Euro Stoxx 50 futures -.29%.
- S&P 500 futures -.06%.
- NASDAQ 100 futures -.2%.
BOTTOM LINE: Asian indices are mostly lower, weighed down commodity by consumer and industrial shares in the region. I expect US stocks to open modestly lower and to rally into the afternoon, finishing mixed. The Portfolio is 75% net long heading into the day.
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