Night Trading
- Asian equity indices are -.5% to +.25% on average.
- Asia Ex-Japan Investment Grade CDS Index 121.5 -2.75 basis points.
- China Sovereign CDS 67.0 -.25 basis point.
- China Iron Ore Spot 117.0 USD/Metric Tonne +.2%.
- Bloomberg Emerging Markets Currency Index 47.7 -.03%.
- Bloomberg Global Risk-On/Risk Off Index 58.7 +.9%.
- Bloomberg US Financial Conditions Index .25 +6.0 basis points.
- Volatility Index(VIX) futures 19.7 +.63%.
- Euro Stoxx 50 futures +.19%.
- S&P 500 futures -.05%.
- NASDAQ 100 futures -.11%.
BOTTOM LINE: Asian indices are mostly lower, weighed down by technology and consumer shares in the region. I expect US stocks to open mixed and to weaken into the afternoon, finishing modestly lower. The Portfolio is 50% net long heading into the day.
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