Night Trading
- Asian equity indices are -.25% to +.5% on average.
- Asia Ex-Japan Investment Grade CDS Index 142.0 -1.5 basis points.
- China Sovereign CDS 83.0 -.75 basis point.
- China Iron Ore Spot 121.9 USD/Metric Tonne +.5%.
- Bloomberg Emerging Markets Currency Index 47.8 -.01%.
- Bloomberg Global Risk-On/Risk Off Index 51.1 -.3%.
- Bloomberg US Financial Conditions Index -.57 -5.0 basis points.
- Volatility Index(VIX) futures 21.6 -.7%.
- Euro Stoxx 50 futures +.19%.
- S&P 500 futures +.37%.
- NASDAQ 100 futures +.37%.
BOTTOM LINE: Asian indices are mostly higher, boosted by technology and consumer shares in the region. I expect US stocks to open modestly higher and to weaken into the afternoon, finishing mixed. The Portfolio is 50% net long heading into the day.
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