Night Trading
- Asian equity indices are -.5% to +.5% on average.
- Asia Ex-Japan Investment Grade CDS Index 112.25 -2.75 basis points.
- China Sovereign CDS 67.75 -3.25 basis points.
- China Iron Ore Spot 125.5 USD/Metric Tonne -.47%.
- Bloomberg Emerging Markets Currency Index 47.7 -.04%.
- Bloomberg Global Risk-On/Risk Off Index 64.2 +.7%.
- Bloomberg US Financial Conditions Index .20 -5.0 basis points.
- Volatility Index(VIX) futures 22.3 +1.1%.
- Euro Stoxx 50 futures -.28%.
- S&P 500 futures -.41%.
- NASDAQ 100 futures -.56%.
BOTTOM LINE: Asian indices are mostly higher, boosted by energy 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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