Night Trading
- Asian equity indices are -.5% to +.5% on average.
- Asia Ex-Japan Investment Grade CDS Index 92.75 -.5 basis point.
- China Sovereign CDS 58.5 -1.25 basis points.
- China Iron Ore Spot 97.9 USD/Metric Tonne -.43%
- Swiss Franc/Offshore Chinese Renminbi Cross 8.77 -.03%.
- Bloomberg Emerging Markets Currency Index 37.0 -.01%.
- Bloomberg Global Risk-On/Risk Off Index 59.4 -.9%.
- US 10-Year Yield 4.27% unch.
- Volatility Index(VIX) futures 23.0 +.2%.
- Euro Stoxx 50 futures +.38%.
- S&P 500 futures unch.
- NASDAQ 100 futures +.07%.
BOTTOM LINE: Asian indices are mostly higher, boosted by consumer discretionary and technology shares in the region. I expect US stocks to open mixed and to rally into the afternoon, finishing modestly higher. The Portfolio is 75% net long heading into the day.
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