Night Trading
- Asian equity indices are -.25% to +.25% on average.
- Asia Ex-Japan Investment Grade CDS Index 127.75 -3.25 basis points.
- China Sovereign CDS 71.5 -1.5 basis points.
- China Iron Ore Spot 117.9 USD/Metric Tonne -2.4%.
- Bloomberg Emerging Markets Currency Index 47.9 -.01%.
- Bloomberg Global Risk-On/Risk Off Index 54.2 -.3%.
- Bloomberg US Financial Conditions Index -.36 -1.0 basis point.
- Volatility Index(VIX) futures 21.7 +.69%.
- Euro Stoxx 50 futures +.33%.
- S&P 500 futures -.05%.
- NASDAQ 100 futures -.19%.
BOTTOM LINE: Asian indices are mostly higher, boosted by commodity and consumer 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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