Night Trading
- Asian equity indices are unch. to +1.0% on average.
- Asia Ex-Japan Investment Grade CDS Index 132.5 +.25 basis point.
- China Sovereign CDS 75.25 +1.5 basis points.
- China Iron Ore Spot 116.1 USD/Metric Tonne -1.1%.
- Bloomberg Emerging Markets Currency Index 47.6 +.04%.
- Bloomberg Global Risk-On/Risk Off Index 53.9 +1.4%.
- Bloomberg US Financial Conditions Index -.18 -11.0 basis points.
- Volatility Index(VIX) futures 21.2 -.26%.
- Euro Stoxx 50 futures +.80%.
- S&P 500 futures +.10%.
- NASDAQ 100 futures +.01%.
BOTTOM LINE: Asian indices are mostly higher, boosted by commodity and industrial shares in the region. I expect US stocks to open mixed and to rally into the afternoon, finishing modestly higher. The Portfolio is 75% net long heading into the day.
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