Wednesday, July 23, 2025

Thursday Watch

Night Trading 

  • Asian equity indices are +.25% to +1.25% on average. 
  • Asia Ex-Japan Investment Grade CDS Index 68.75 -1.5 basis points.
  • China Sovereign CDS 40.75 -1.75 basis points.
  • China Iron Ore Spot 104.5 USD/Metric Tonne -.02%. 
  • Polymarket:  Which Countries Will the US Agree to Tariff Agreements with Before August?
  • EU 57.0% +19.0 percentage points.
  • India 21.0% +12.0 percentage points.
  • South Korea  61.0% +10.0 percentage points.
  • Canada 26.0% +2.0 percentage points. 
  • Swiss Franc/Offshore Chinese Renminbi Cross 9.03 +.02%.
  • Bloomberg Emerging Markets Currency Index 36.9 +.02%.
  • Bloomberg Global Risk-On/Risk Off Index 79.7 +.9%.
  • US 10-Year Yield 4.38% +3.0 basis points.
  • Volatility Index(VIX) futures 17.9 -1.0%.  
  • Euro Stoxx 50 futures +1.3%. 
  • S&P 500 futures +.13%. 
  • NASDAQ 100 futures +.41%.
Morning Preview Links

BOTTOM LINE: Asian indices are modestly higher, boosted by technology and industrial shares in the region. I expect US stocks to open modestly higher and to maintain gains into the afternoon.  The Portfolio is 100% net long heading into the day.

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