Night Trading
- Asian equity indices are -2.5% to -1.5% on average.
- Asia Ex-Japan Investment Grade CDS Index 70.0 +2.5 basis points.
- China Sovereign CDS 48.0 +3.0 basis points.
- China Iron Ore Spot 103.7 USD/Metric Tonne -.3%.
- Swiss Franc/Offshore Chinese Renminbi Cross 8.83 +.01%.
- Bloomberg Emerging Markets Currency Index 36.1 -.05%.
- Bloomberg Global Risk-On/Risk Off Index 83.2 -1.9%.
- US 10-Year Yield 4.09% +1.0 basis point.
- Volatility Index(VIX) futures 22.2 -2.9%.
- Euro Stoxx 50 futures -1.3%.
- S&P 500 futures +.43%.
- NASDAQ 100 futures +.38%.
BOTTOM LINE: Asian indices are lower, weighed down by industrial and technology shares in the region. I expect US stocks to open modestly higher and to weaken into the afternoon, finishing mixed. The Portfolio is 50% net long heading into the day.
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