Night Trading
- Asian equity indices are -.5% to +.25% on average.
- Asia Ex-Japan Investment Grade CDS Index 65.75 unch.
- China Sovereign CDS 44.25 +2.25 basis points.
- China Iron Ore Spot 107.7 USD/Metric Tonne -.4%.
- Gold 4,598.3 USD/t oz. -.8%.
- Swiss Franc/Offshore Chinese Renminbi Cross 8.71 +.04%.
- Bloomberg Emerging Markets Currency Index 36.1 -.01%.
- Bloomberg Global Risk-On/Risk Off Index 100.4 -1.0%.
- US 10-Year Yield 4.14% unch.
- Japan 30-Year Yield 3.51% -2.0 basis points.
- Volatility Index(VIX) futures 18.9 +.2%.
- Euro Stoxx 50 futures +.17%.
- S&P 500 futures -.08%.
- NASDAQ 100 futures -.07%.
BOTTOM LINE: Asian indices are mostly lower, weighed down by technology and consumer discretionary shares in the region. I expect US stocks to open mixed and to weaken into the afternoon, finishing modestly lower. The Portfolio is 50% net long heading into the day.
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