Night Trading
- Asian equity indices are -.5% to +.5% on average.
- Asia Ex-Japan Investment Grade CDS Index 74.75 +1.5 basis points.
- China Sovereign CDS 44.75 +1.25 basis points.
- China Iron Ore Spot 106.75 USD/Metric Tonne -.%.
- Crude Oil 93.74/bbl. +.%
- Gold 4,734.7 USD/t oz. -.%.
- Swiss Franc/Offshore Chinese Renminbi Cross 8.70 -.02%.
- Bloomberg Emerging Markets Currency Index 35.58 -.08%.
- Bloomberg Global Risk-On/Risk Off Index 113.4 -.3%
- US 10-Year Yield 4.33% unch.
- Japan 30-Year Yield 3.67% +3.0 basis points.
- Volatility Index(VIX) futures 20.6 -.2%.
- Euro Stoxx 50 futures -.68%.
- S&P 500 futures +.2%.
- NASDAQ 100 futures +.7%.
BOTTOM LINE: Asian indices are mostly lower, weighed down by financial and consumer discretionary shares in the region. I expect US stocks to open modestly higher and to weaken into the afternoon, finishing mixed. The Portfolio is 75% net long heading into the day.
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