Night Trading
- Asian equity indices are -3.0% to -1.0% on average.
- Asia Ex-Japan Investment Grade CDS Index 71.25 +.5 basis point.
- China Sovereign CDS 36.5 -.25 basis point.
- China Iron Ore Spot 90.40 USD/Metric Tonne -.6%.
- Crude Oil 92.94/bbl. -.9%.
- Gold 4,180.10 USD/t oz. -.25%.
- Swiss Franc/Offshore Chinese Renminbi Cross 8.03 -.14%.
- Bloomberg Emerging Markets Currency Index 33.64 -.07%.
- Bloomberg Global Risk-On/Risk Off Index 135.3 -1.0%.
- US 10-Year Yield 5.20% -4.0 basis points
- Japan 30-Year Yield 4.05% -2.0 basis points.
- Volatility Index(VIX) futures 17.7 +.4%.
- Euro Stoxx 50 futures -.32%.
- S&P 500 futures -.17%.
- NASDAQ 100 futures -.70%.
BOTTOM LINE: Asian indices are sharply lower, weighed down by technology and financial shares in the region. I expect US stocks to open modestly lower and to maintain losses into the afternoon. The Portfolio is 50% net long heading into the day.
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