Night Trading
- Asian equity indices are -.5% to +.25% on average.
- Asia Ex-Japan Investment Grade CDS Index 75.25 +.75 basis point.
- China Sovereign CDS 56.0 +.75 basis point.
- China Iron Ore Spot 103.3 USD/Metric Tonne -.4%
- Bloomberg Emerging Markets Currency Index 37.1 -.11%.
- Bloomberg Global Risk-On/Risk Off Index 71.5 +.07%.
- Volatility Index(VIX) futures 17.5 -.6%.
- Euro Stoxx 50 futures +.37%.
- S&P 500 futures +.06%.
- NASDAQ 100 futures +.28%.
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 rally into the afternoon, finishing mixed. The Portfolio is 50% net long heading into the day.
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