Night Trading
- Asian equity indices are -.25% to +.5% on average.
- Asia Ex-Japan Investment Grade CDS Index 135.75 -.25 basis point.
- China Sovereign CDS 84.0 +.25 basis point.
- China Iron Ore Spot 108.2 USD/Metric Tonne +.73%.
- Bloomberg Emerging Markets Currency Index 42.4 -.04%.
- Bloomberg Global Risk-On/Risk Off Index 71.5 +1.6%.
- Bloomberg US Financial Conditions Index 19.0 -7.0 basis points.
- Volatility Index(VIX) futures 18.1 +1.1%.
- Euro Stoxx 50 futures +.38%.
- S&P 500 futures -.17%.
- NASDAQ 100 futures -.20%.
BOTTOM LINE: Asian indices are mostly higher, boosted by tech and consumer 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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