Night Trading
- Asian equity indices are -2.0% to -1.0% on average.
- Asia Ex-Japan Investment Grade CDS Index 89.75 +7.25 basis points.
- China Sovereign CDS 53.5 +2.0 basis points.
- China Iron Ore Spot 101.4 USD/Metric Tonne -1.4%
- Bloomberg Emerging Markets Currency Index 36.8 +.02%.
- Bloomberg Global Risk-On/Risk Off Index 66.3 +.2%.
- Volatility Index(VIX) futures 22.0 +10.0%.
- Euro Stoxx 50 futures -1.9%.
- S&P 500 futures -2.9%.
- NASDAQ 100 futures -3.6%.
BOTTOM LINE: Asian indices are lower, weighed down by technology and consumer discretionary shares in the region. I expect US stocks to open sharply lower and to maintain losses into the afternoon. The Portfolio is 25% net long heading into the day.
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