Night Trading
- Asian equity indices are unch. to +1.0% on average.
- Asia Ex-Japan Investment Grade CDS Index 64.75 -.25 basis point.
- China Sovereign CDS 41.75 -.75 basis point.
- China Iron Ore Spot 100.4 USD/Metric Tonne +.2%.
- Gold 5,066.8 USD/t oz. +.7%.
- Swiss Franc/Offshore Chinese Renminbi Cross 9.01 -.14%.
- Bloomberg Emerging Markets Currency Index 36.31 +.04%.
- Bloomberg Global Risk-On/Risk Off Index 102.9 -.2%.
- US 10-Year Yield 4.14% unch.
- Japan 30-Year Yield 3.51% -6.0 basis points.
- Volatility Index(VIX) futures 19.5 -.08%.
- Euro Stoxx 50 futures +.02%.
- S&P 500 futures +.30%.
- NASDAQ 100 futures +.43%.
BOTTOM LINE: Asian indices are mostly higher, boosted by industrial 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 75% net long heading into the day.
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