Night Trading
- Asian equity indices are -7.0% to -2.0% on average.
- Asia Ex-Japan Investment Grade CDS Index 73.5 +1.0 basis point.
- China Sovereign CDS 36.75 +1.5 basis points.
- China Iron Ore Spot 93.1 USD/Metric Tonne +.03%.
- Crude Oil 91.10/bbl. +.7%.
- Gold 4,077.0 USD/t oz. -.90%.
- Swiss Franc/Offshore Chinese Renminbi Cross 8.16 -.03%.
- Bloomberg Emerging Markets Currency Index 33.22 -.07%.
- Bloomberg Global Risk-On/Risk Off Index 111.90 -2.2%.
- US 10-Year Yield 4.84% unch.
- Japan 30-Year Yield 3.82% -6.0 basis points.
- Volatility Index(VIX) futures 22.0 -.8%.
- Euro Stoxx 50 futures -.90%.
- S&P 500 futures +.08%.
- NASDAQ 100 futures +.60%.
BOTTOM LINE: Asian indices are sharply lower, weighed down by technology and energy shares in the region. I expect US stocks to open modestly higher and to weaken into the afternoon, finishing modestly lower. The Portfolio is 25% net long heading into the day.
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