Night Trading
- Asian equity indices are unch. to +1.0% on average.
- Asia Ex-Japan Investment Grade CDS Index 69.5 +1.25 basis points.
- China Sovereign CDS 45.5 +.5 basis point.
- China Iron Ore Spot 105.6 USD/Metric Tonne +.4%.
- Swiss Franc/Offshore Chinese Renminbi Cross 8.90 -.09%
- Bloomberg Emerging Markets Currency Index 36.22 +.02%.
- Bloomberg Global Risk-On/Risk Off Index 78.2 -.8%.
- US 10-Year Yield 4.02% -1.0 basis point.
- Volatility Index(VIX) futures 20.5 -.2%.
- Euro Stoxx 50 futures +.83%.
- S&P 500 futures +.07%.
- NASDAQ 100 futures +.07%.
BOTTOM LINE: Asian indices are modestly higher, boosted by technology and commodity shares in the region. I expect US stocks to open mixed and to rally into the afternoon, finishing modestly higher. The Portfolio is 75% net long heading into the day.
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