Night Trading
- Asian equity indices are -1.25% to -.25% on average.
- Asia Ex-Japan Investment Grade CDS Index 66.25 +.25 basis point.
- China Sovereign CDS 43.75 +.5 basis point.
- China Iron Ore Spot 100.5 USD/Metric Tonne -.6%.
- Swiss Franc/Offshore Chinese Renminbi Cross 8.89 -.14%.
- Bloomberg Emerging Markets Currency Index 36.53 -.05%.
- Bloomberg Global Risk-On/Risk Off Index 80.5 +.1%.
- US 10-Year Yield 4.31% +1.0 basis point.
- Volatility Index(VIX) futures 18.5 +.3%.
- Euro Stoxx 50 futures -.51%.
- S&P 500 futures -.09%.
- NASDAQ 100 futures -.22%.
BOTTOM LINE: Asian indices are mostly lower, weighed down by technology and industrial shares in the region. I expect US stocks to open modestly lower and maintain losses into the afternoon. The Portfolio is 50% net long heading into the day.
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