Night Trading
- Asian equity indices are -.25% to +.25% on average.
- Asia Ex-Japan Investment Grade CDS Index 110.0 -2.5 basis points.
- China Sovereign CDS 64.75 +2.75 basis points.
- China Iron Ore Spot 125.6 USD/Metric Tonne +1.0%.
- Bloomberg Emerging Markets Currency Index 47.8 +.01%.
- Bloomberg Global Risk-On/Risk Off Index 67.3 +.5%.
- Bloomberg US Financial Conditions Index .25 -6.0 basis points.
- Volatility Index(VIX) futures 20.3 -.21%.
- Euro Stoxx 50 futures -.02%.
- S&P 500 futures +.10%.
- NASDAQ 100 futures +.15%.
BOTTOM LINE: Asian indices are mostly higher, boosted by consumer and industrial shares in the region. I expect US stocks to open modestly lower and to rally into the afternoon, finishing mixed. The Portfolio is 50% net long heading into the day.
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