Night Trading
- Asian equity indices are -.5% to unch. on average.
- Asia Ex-Japan Investment Grade CDS Index 104.5 +.5 basis point.
- China Sovereign CDS 56.5 +.5 basis point.
- China Iron Ore Spot 121.9 USD/Metric Tonne +.4%.
- Bloomberg Emerging Markets Currency Index 48.02 -.02%.
- Bloomberg Global Risk-On/Risk Off Index 58.8 -.8%.
- Bloomberg US Financial Conditions Index .39 -3.0 basis points.
- Volatility Index(VIX) futures 21.2 +.23%.
- Euro Stoxx 50 futures +.24%.
- S&P 500 futures +.12%.
- NASDAQ 100 futures +.19%.
BOTTOM LINE: Asian indices are modestly lower, weighed down by consumer and technology shares in the region. I expect US stocks to open modestly higher and to weaken into the afternoon, finishing mixed. The Portfolio is 50% net long heading into the day.
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