Night Trading
- Asian equity indices are -.25% to +.75% on average.
- Asia Ex-Japan Investment Grade CDS Index 68.75 -1.0 basis point.
- China Sovereign CDS 44.75 +.25 basis point.
- China Iron Ore Spot 103.8 USD/Metric Tonne +.29%.
- Swiss Franc/Offshore Chinese Renminbi Cross 8.86 +.03%.
- Bloomberg Emerging Markets Currency Index 36.6 -.1%.
- Bloomberg Global Risk-On/Risk Off Index 76.7 +.8%.
- US 10-Year Yield 4.28% unch.
- Volatility Index(VIX) futures 19.32 +.12%.
- Euro Stoxx 50 futures +.28%.
- S&P 500 futures +.07%.
- NASDAQ 100 futures +.08%.
BOTTOM LINE: Asian indices are mostly higher, boosted by industrial 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 100% net long heading into the day.
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