Night Trading
- Asian equity indices are -1.25% to -.5% on average.
- Asia Ex-Japan Investment Grade CDS Index 68.0 +1.75 basis points.
- China Sovereign CDS 43.5 +1.0 basis point.
- China Iron Ore Spot 106.4 USD/Metric Tonne -.1%
- Bloomberg Emerging Markets Currency Index 37.3 +.02%.
- Bloomberg Global Risk-On/Risk Off Index 77.4 -.9%.
- Volatility Index(VIX) futures 17.2 +1.4%.
- Euro Stoxx 50 futures +.11%.
- S&P 500 futures -.24%.
- NASDAQ 100 futures -.32%.
BOTTOM LINE: Asian indices are mostly lower, weighed down by commodity and real estate 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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