Night Trading
- Asian equity indices are -1.0% to unch. on average.
- Asia Ex-Japan Investment Grade CDS Index 73.0 -.5 basis point.
- China Sovereign CDS 40.25 -.25 basis point.
- China Iron Ore Spot 100.9 USD/Metric Tonne +.2%.
- Crude Oil 89.0/bbl. +.9%
- Gold 4,215.60 USD/t oz. -1.6%.
- Swiss Franc/Offshore Chinese Renminbi Cross 8.48 -.15%.
- Bloomberg Emerging Markets Currency Index 35.0 -.03%.
- Bloomberg Global Risk-On/Risk Off Index 120.5 +.5%.
- US 10-Year Yield 4.54% +2.0 basis points.
- Japan 30-Year Yield 3.87% -2.0 basis points.
- Volatility Index(VIX) futures 20.5 -.3%.
- Euro Stoxx 50 futures +.31%.
- S&P 500 futures -.20%.
- NASDAQ 100 futures -.30%.
BOTTOM LINE: Asian indices are mostly lower, weighed down by technology and financial 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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