Night Trading
- Asian equity indices are -.25% to +.25% on average.
- Asia Ex-Japan Investment Grade CDS Index 74.75 -.75 basis point
- China Sovereign CDS 37.25 -.5 basis point.
- China Iron Ore Spot 91.2 USD/Metric Tonne +1.0%.
- Crude Oil 101.90/bbl. -.8%.
- Gold 4,052.8 USD/t oz. +.02%.
- Swiss Franc/Offshore Chinese Renminbi Cross 8.03 -.13%.
- Bloomberg Emerging Markets Currency Index 33.36 -.02%.
- Bloomberg Global Risk-On/Risk Off Index 129.5 +.5%.
- US 10-Year Yield 5.02% unch.
- Japan 30-Year Yield 3.91% +2.0 basis points.
- Volatility Index(VIX) futures 18.9 +1.4%.
- Euro Stoxx 50 futures +.11%.
- S&P 500 futures -.30%.
- NASDAQ 100 futures -.86%.
BOTTOM LINE: Asian indices are mostly lower, weighed down by consumer discretionary and industrial shares in the region. I expect US stocks to open mixed and to weaken into the afternoon, finishing modestly lower. The Portfolio is 50% net long heading into the day.
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