Night Trading
- Asian equity indices are -.5% to +.25% on average.
- Asia Ex-Japan Investment Grade CDS Index 76.0 -2.0 basis points.
- China Sovereign CDS 45.0 -5.0 basis points
- China Iron Ore Spot 104.7 USD/Metric Tonne -1.0%.
- Crude Oil 97.0/bbl. +2.7%
- Gold 4,737.0 USD/t oz. -.9%.
- Swiss Franc/Offshore Chinese Renminbi Cross 8.64 -.01%.
- Bloomberg Emerging Markets Currency Index 35.7 unch.
- Bloomberg Global Risk-On/Risk Off Index 108.3 +.8%
- US 10-Year Yield 4.30% unch.
- Japan 30-Year Yield 3.65% +4.0 basis points.
- Volatility Index(VIX) futures 22.3 +1.6%.
- Euro Stoxx 50 futures +.09%.
- S&P 500 futures -.14%.
- NASDAQ 100 futures -.23%.
BOTTOM LINE: Asian indices are mostly lower, weighed down by technology and transport shares in the region. I expect US stocks to open modestly lower and to rally into the afternoon, finishing mixed. The Portfolio is 50% net long heading into the day.
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