Night Trading
- Asian equity indices are +.25% to +1.25% on average.
- Asia Ex-Japan Investment Grade CDS Index 65.75 -.5 basis point.
- China Sovereign CDS 41.0 -.25 basis point.
- China Iron Ore Spot 102.1 USD/Metric Tonne -.07%.
- Swiss Franc/Offshore Chinese Renminbi Cross 8.84 +.04%.
- Bloomberg Emerging Markets Currency Index 36.22 -.02%.
- Bloomberg Global Risk-On/Risk Off Index 85.7 -.2%.
- US 10-Year Yield 4.12% unch.
- Volatility Index(VIX) futures 19.2 -.4%.
- Euro Stoxx 50 futures +.48%.
- S&P 500 futures +.11%.
- NASDAQ 100 futures +.20%.
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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