Night Trading
- Asian equity indices are -1.0% to unch. on average.
- Asia Ex-Japan Investment Grade CDS Index 80.0 unch.
- China Sovereign CDS 47.75 -.5 basis point.
- China Iron Ore Spot 108.2 USD/Metric Tonne +.33%.
- Crude Oil 95.48/bbl. -.25%
- Gold 5,128.3 USD/t oz. +.04%.
- Swiss Franc/Offshore Chinese Renminbi Cross 8.76 -.07%.
- Bloomberg Emerging Markets Currency Index 35.58 -.02%.
- Bloomberg Global Risk-On/Risk Off Index 96.2 -1.7%.
- US 10-Year Yield 4.26% unch.
- Japan 30-Year Yield 3.50% +1.0 basis point.
- Volatility Index(VIX) futures 23.9 -2.1%.
- Euro Stoxx 50 futures +.24%.
- S&P 500 futures +.42%.
- NASDAQ 100 futures +.36%.
BOTTOM LINE: Asian indices are mostly lower, weighed down by financial and technology shares in the region. I expect US stocks to open modestly higher and to weaken into the afternoon, finishing modestly lower. The Portfolio is 25% net long heading into the day.
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