Night Trading
- Asian equity indices are -.25% to unch. on average.
- Asia Ex-Japan Investment Grade CDS Index 95.75 +.5 basis point.
- China Sovereign CDS 60.75 +2.25 basis points.
- China Iron Ore Spot 102.1 USD/Metric Tonne +.7%.
- Bloomberg Emerging Markets Currency Index 42.6 unch.
- Bloomberg Global Risk-On/Risk Off Index 68.7 +.5%.
- Bloomberg US Financial Conditions Index .26 -4.0 basis points.
- Volatility Index(VIX) futures 17.6 -.2%.
- Euro Stoxx 50 futures +.44%.
- S&P 500 futures +.29%.
- NASDAQ 100 futures +.33%.
BOTTOM LINE: Asian indices are slightly lower, weighed down by technology and financial 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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