Night Trading
- Asian equity indices are -.5% to +.5% on average.
- Asia Ex-Japan Investment Grade CDS Index 64.75 +2.0 basis points.
- China Sovereign CDS 40.5 +2.25 basis points.
- China Iron Ore Spot 108.8 USD/Metric Tonne -.2%.
- Gold 4,457.1 USD/t oz. -.12%.
- Swiss Franc/Offshore Chinese Renminbi Cross 8.77 -.01%.
- Bloomberg Emerging Markets Currency Index 36.1 -.01%.
- Bloomberg Global Risk-On/Risk Off Index 99.3 -.6%.
- US 10-Year Yield 4.15% unch.
- Japan 30-Year Yield 3.51% -1.0 basis point.
- Volatility Index(VIX) futures 18.4 +.02%.
- Euro Stoxx 50 futures +.05%.
- S&P 500 futures +.07%.
- NASDAQ 100 futures -.01%.
BOTTOM LINE: Asian indices are mostly lower, weighed down by financial and consumer shares in the region. I expect US stocks to open modestly lower and to rally into the afternoon, finishing mixed. The Portfolio is 75% net long heading into the day.
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