Night Trading
- Asian equity indices are -.25% to +.5% on average.
- Asia Ex-Japan Investment Grade CDS Index 70.0 +2.5 basis points.
- China Sovereign CDS 46.75 +1.75 basis points.
- China Iron Ore Spot 104.3 USD/Metric Tonne -.1%.
- Swiss Franc/Offshore Chinese Renminbi Cross 8.88 -.09%.
- Bloomberg Emerging Markets Currency Index 36.2 -.03%.
- Bloomberg Global Risk-On/Risk Off Index 85.5 +.5%.
- US 10-Year Yield 4.12% unch.
- Volatility Index(VIX) futures 21.9 +.6%.
- Euro Stoxx 50 futures +.13%.
- S&P 500 futures -.10%.
- NASDAQ 100 futures -.20%.
BOTTOM LINE: Asian indices are mostly higher, boosted by industrial and financial shares in the region. I expect US stocks to open mixed and to rally into the afternoon, finishing modestly higher. The Portfolio is 50% net long heading into the day.
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