Wednesday, March 15, 2023

Thursday Watch

Night Trading 

  • Asian equity indices are -1.25% to -.25% on average.
  • Asia Ex-Japan Investment Grade CDS Index 137.25 +1.5 basis points. 
  • China Sovereign CDS 80.0 +4.75 basis points. 
  • China Iron Ore Spot 129.9 USD/Metric Tonne -1.7%.
  • Bloomberg Emerging Markets Currency Index 47.1 +.04%.
  • Bloomberg Global Risk-On/Risk Off Index  44.0 +.7%. 
  • Bloomberg US Financial Conditions Index -1.05 +7.0 basis points.
  • Volatility Index(VIX) futures 25.2 -2.6%.
  • Euro Stoxx 50 futures +2.0%.
  • S&P 500 futures +.31%.
  • NASDAQ 100 futures +.44%.  
Morning Preview Links

BOTTOM LINE: Asian indices are modestly lower, weighed down by financial and commodity shares in the region. I expect US stocks to open modestly higher and to weaken into the afternoon, finishing mixed.  The Portfolio is 25% net long heading into the day.

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