Night Trading
- Asian equity indices are unch. to +1.0% on average.
- Asia Ex-Japan Investment Grade CDS Index 72.5 -.75 basis point
- China Sovereign CDS 41.75 -.25 basis point.
- China Iron Ore Spot 106.5 USD/Metric Tonne -.4%.
- Crude Oil 88.10/bbl. -1.7%
- Gold 4,842.6 USD/t oz. +.3%.
- Swiss Franc/Offshore Chinese Renminbi Cross 8.75 +.07%.
- Bloomberg Emerging Markets Currency Index 35.8 -.01%.
- Bloomberg Global Risk-On/Risk Off Index 111.9 +.3%
- US 10-Year Yield 4.25% unch.
- Japan 30-Year Yield 3.57% -2.0 basis points.
- Volatility Index(VIX) futures 20.5 -.7%.
- Euro Stoxx 50 futures +.29%.
- S&P 500 futures +.12%.
- NASDAQ 100 futures +.27%.
BOTTOM LINE: Asian indices are mostly higher, boosted by technology and financial shares in the region. I expect US stocks to open modestly higher and to weaken into the afternoon, finishing mixed. The Portfolio is 50% net long heading into the day.
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