Night Trading
- Asian equity indices are -.75% to +.25% on average.
- Asia Ex-Japan Investment Grade CDS Index 75.25 +.75 basis point
- China Sovereign CDS 37.75 +.5 basis point.
- China Iron Ore Spot 90.60 USD/Metric Tonne -.5%.
- Crude Oil 98.11/bbl. +1.0%.
- Gold 4,133.80 USD/t oz. -.4%.
- Swiss Franc/Offshore Chinese Renminbi Cross 8.09 +.02%.
- Bloomberg Emerging Markets Currency Index 33.6 -.05%.
- Bloomberg Global Risk-On/Risk Off Index 131.4 +.4%.
- US 10-Year Yield 5.11% -1.0 basis point.
- Japan 30-Year Yield 3.92 +1.0 basis point.
- Volatility Index(VIX) futures 18.5 +1.2%.
- Euro Stoxx 50 futures unch.
- S&P 500 futures -.38%.
- NASDAQ 100 futures -.61%.
BOTTOM LINE: Asian indices are mostly lower, weighed down by technology and metals & mining 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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