Night Trading
- Asian equity indices are +.25% to +1.25% on average.
- Asia Ex-Japan Investment Grade CDS Index 69.75 -.75 basis point.
- China Sovereign CDS 44.25 -.5 basis point.
- China Iron Ore Spot 103.8 USD/Metric Tonne -.9%.
- Swiss Franc/Offshore Chinese Renminbi Cross 8.96 -.02%
- Bloomberg Emerging Markets Currency Index 36.19 -.14%.
- Bloomberg Global Risk-On/Risk Off Index 83.3 +.4%.
- US 10-Year Yield 4.0% unch.
- Volatility Index(VIX) futures 18.7 -1.4%.
- Euro Stoxx 50 futures +.16%.
- S&P 500 futures +.15%.
- NASDAQ 100 futures +.26%.
BOTTOM LINE: Asian indices are modestly higher, boosted by technology and industrial 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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