Night Trading
- Asian equity indices are -3.75% to -2.25% on average.
- Asia Ex-Japan Investment Grade CDS Index 73.5 +.25 basis point.
- China Sovereign CDS 46.5 +.5 basis point.
- China Iron Ore Spot 98.4 USD/Metric Tonne -.62%.
- Gold 5,172.4 USD/t oz. +1.0%.
- Swiss Franc/Offshore Chinese Renminbi Cross 8.86 +.2%.
- Bloomberg Emerging Markets Currency Index 35.74 -.11%.
- Bloomberg Global Risk-On/Risk Off Index 94.72 -2.8%.
- US 10-Year Yield 4.06% unch.
- Japan 30-Year Yield 3.36% +1.0 basis point.
- Volatility Index(VIX) futures 22.7 +2.5%.
- Euro Stoxx 50 futures -.02%.
- S&P 500 futures -.46%.
- NASDAQ 100 futures -.65%.
BOTTOM LINE: Asian indices are sharply lower, weighed down by technology and financial shares in the region. I expect US stocks to open lower and to maintain losses into the afternoon. The Portfolio is 25% net long heading into the day.
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