Night Trading
- Asian equity indices are -1.5% to -.5% on average.
- Asia Ex-Japan Investment Grade CDS Index 69.5 +1.75 basis points.
- China Sovereign CDS 48.75 +2.25 basis points.
- China Iron Ore Spot 100.0 USD/Metric Tonne -.4%
- Bloomberg Emerging Markets Currency Index 37.43 -.08%.
- Bloomberg Global Risk-On/Risk Off Index 73.0 -.6%.
- Volatility Index(VIX) futures 21.5 -1.5%.
- Euro Stoxx 50 futures -.76%
- S&P 500 futures +.31%.
- NASDAQ 100 futures +.45%.
BOTTOM LINE: Asian indices are modestly lower, weighed down by tech and financial shares in the region. I expect US stocks to open mixed and to rally into the afternoon, finishing modestly higher. The Portfolio is 50% net long heading into the day.
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