Night Trading
- Asian equity indices are -.50% to +.25% on average.
- Asia Ex-Japan Investment Grade CDS Index 125.25 +3.75 basis points
- China Sovereign CDS 71.25 +4.25 basis points
- China Iron Ore Spot 116.0 USD/Metric Tonne -1.2%.
- Bloomberg Emerging Markets Currency Index 47.6 +-.01%.
- Bloomberg Global Risk-On/Risk Off Index 59.0 +.9%.
- Bloomberg US Financial Conditions Index .14 -7.0 basis points.
- Volatility Index(VIX) futures 19.5 +.8%.
- Euro Stoxx 50 futures +.05%.
- S&P 500 futures -.24%.
- NASDAQ 100 futures -.39%.
BOTTOM LINE: Asian indices are mostly lower, weighed down by technology 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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