Night Trading
- Asian equity indices are +.25% to +1.25% on average.
- Asia Ex-Japan Investment Grade CDS Index 143.75 -2.5 basis points.
- China Sovereign CDS 79.0 -3.25 basis points.
- China Iron Ore Spot 123.7 USD/Metric Tonne +.17%.
- Bloomberg Emerging Markets Currency Index 47.4 +.01%.
- Bloomberg Global Risk-On/Risk Off Index 47.8 -.39%.
- Bloomberg US Financial Conditions Index -.44 -3.0 basis points.
- Volatility Index(VIX) futures 23.0 +1.0%.
- Euro Stoxx 50 futures n/a.
- S&P 500 futures -.01%.
- NASDAQ 100 futures -.04%.
BOTTOM LINE: Asian indices are modestly higher, boosted by energy and technology 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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