Night Trading
- Asian equity indices are -.5% to unch. on average.
- Asia Ex-Japan Investment Grade CDS Index 65.75 +.75 basis point.
- China Sovereign CDS 43.75 +.75 basis points.
- China Iron Ore Spot 102.5 USD/Metric Tonne +.7%.
- Swiss Franc/Offshore Chinese Renminbi Cross 8.76 -.02%.
- Bloomberg Emerging Markets Currency Index 36.1 unch.
- Bloomberg Global Risk-On/Risk Off Index 95.3 -.4%.
- US 10-Year Yield 4.18% -1.0 basis point.
- Japan 30-Year Yield 3.38% -1.0 basis point.
- Volatility Index(VIX) futures 19.5 unch.
- Euro Stoxx 50 futures -.28%.
- S&P 500 futures -.05%.
- NASDAQ 100 futures -.18%.
BOTTOM LINE: Asian indices are mostly lower, weighed down by industrial and financial shares in the region. I expect US stocks to open mixed and to weaken into the afternoon, finishing modestly lower. The Portfolio is 75% net long heading into the day.
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