Wednesday, March 29, 2023

Thursday Watch

Night Trading 

  • Asian equity indices are -.25% to +.75% on average.
  • Asia Ex-Japan Investment Grade CDS Index 134.75 -7.25 basis points. 
  • China Sovereign CDS 77.0 -6.0 basis points. 
  • China Iron Ore Spot 122.8 USD/Metric Tonne -.08%.
  • Bloomberg Emerging Markets Currency Index 47.8 -.06%.
  • Bloomberg Global Risk-On/Risk Off Index  53.8 +1.5%. 
  • Bloomberg US Financial Conditions Index -.45 -6.0 basis points.
  • Volatility Index(VIX) futures 21.1 +.8%.
  • Euro Stoxx 50 futures +.19%.
  • S&P 500 futures -.05%.
  • NASDAQ 100 futures -.17%.  
Morning Preview Links

BOTTOM LINE: Asian indices are mostly higher, boosted by technology and commodity shares in the region. I expect US stocks to open mixed and to rally into the afternoon, finishing modestly higher.  The Portfolio is 50% net long heading into the day.

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