Night Trading
- Asian equity indices are -.5% to +.25% on average.
- Asia Ex-Japan Investment Grade CDS Index 66.5 +1.0 basis point.
- China Sovereign CDS 44.0 +1.5 basis points.
- China Iron Ore Spot 103.0 USD/Metric Tonne +.44%.
- Swiss Franc/Offshore Chinese Renminbi Cross 8.92 +.1%.
- Bloomberg Emerging Markets Currency Index 36.50 +.02%.
- Bloomberg Global Risk-On/Risk Off Index 81.4 -.3%.
- US 10-Year Yield 4.23% -1.0 basis point.
- Volatility Index(VIX) futures 17.0 +.3%.
- Euro Stoxx 50 futures +.13%.
- S&P 500 futures -.15%.
- NASDAQ 100 futures -.34%.
BOTTOM LINE: Asian indices are mostly lower, weighed down by commodity and industrial 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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