Night Trading
- Asian equity indices are +.75% to +1.75% on average.
- Asia Ex-Japan Investment Grade CDS Index 67.5 unch.
- China Sovereign CDS 46.5 +1.0 basis point.
- China Iron Ore Spot 106.0 USD/Metric Tonne +.2%.
- Swiss Franc/Offshore Chinese Renminbi Cross 8.78 +.1%.
- Bloomberg Emerging Markets Currency Index 36.13 +.01%.
- Bloomberg Global Risk-On/Risk Off Index 89.5 +.8%.
- US 10-Year Yield 4.0% unch.
- Volatility Index(VIX) futures 19.3 -.1%.
- Euro Stoxx 50 futures +.59%.
- S&P 500 futures +.21%.
- NASDAQ 100 futures +.29%.
BOTTOM LINE: Asian indices are modestly higher, boosted by financial and technology 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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