Night Trading
- Asian equity indices are -.25% to +.5% on average.
- Asia Ex-Japan Investment Grade CDS Index 115.0 -.5 basis point.
- China Sovereign CDS 71.0 +1.0 basis point.
- China Iron Ore Spot 124.8 USD/Metric Tonne +.57%.
- Bloomberg Emerging Markets Currency Index 47.5 +.06%.
- Bloomberg Global Risk-On/Risk Off Index 62.9 +.6%.
- Bloomberg US Financial Conditions Index .20 +2.0 basis points.
- Volatility Index(VIX) futures 21.9 +.8%.
- Euro Stoxx 50 futures -.28%.
- S&P 500 futures -.20%.
- NASDAQ 100 futures -.3%.
BOTTOM LINE: Asian indices are mostly higher, boosted by financial and industrial shares in the region. I expect US stocks to open mixed and to weaken into the afternoon, finishing modestly lower. The Portfolio is 25% net long heading into the day.
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