Thursday, February 09, 2023

Friday Watch

Night Trading 

  • Asian equity indices are -.5% to +.25% on average.
  • Asia Ex-Japan Investment Grade CDS Index 105.5 +1.0 basis point. 
  • China Sovereign CDS 58.5 +2.0 basis points. 
  • China Iron Ore Spot 122.8 USD/Metric Tonne -1.0%.
  • Bloomberg Emerging Markets Currency Index 47.9 -.1%.
  • Bloomberg Global Risk-On/Risk Off Index  58.7 -.07%. 
  • Bloomberg US Financial Conditions Index .36 -5.0 basis points.
  • Volatility Index(VIX) futures 21.8 +.2%.
  • Euro Stoxx 50 futures -.56%.
  • S&P 500 futures -.06%.
  • NASDAQ 100 futures -.12%.  
Morning Preview Links

BOTTOM LINE: Asian indices are modestly lower, weighed down by consumer and industrial 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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