Tuesday, October 21, 2025

Wednesday Watch

Night Trading 
  • Asian equity indices are -.5% to unch. on average. 
  • Asia Ex-Japan Investment Grade CDS Index 69.25 -.25 basis point.
  • China Sovereign CDS 44.25 unch.
  • China Iron Ore Spot 104.4 USD/Metric Tonne +.8%. 
  • Swiss Franc/Offshore Chinese Renminbi Cross 8.96 +.07%
  • Bloomberg Emerging Markets Currency Index 36.2 -.01%.
  • Bloomberg Global Risk-On/Risk Off Index 81.3 +.4%.
  • US 10-Year Yield 3.96% unch.
  • Volatility Index(VIX) futures 19.2 +.6%.
  • Euro Stoxx 50 futures -.4%. 
  • S&P 500 futures +.1%.
  • NASDAQ 100 futures -.1%.
Morning Preview Links

BOTTOM LINE: Asian indices are mostly lower, weighed down by commodity and real estate 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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