Night Trading
- Asian equity indices are -.5% to unch. on average.
- Asia Ex-Japan Investment Grade CDS Index 123.5 +1.0 basis point.
- China Sovereign CDS 72.25 unch.
- China Iron Ore Spot 113.8 USD/Metric Tonne -.29%.
- Bloomberg Emerging Markets Currency Index 42.2 unch.
- Bloomberg Global Risk-On/Risk Off Index 71.5 +.5%.
- Bloomberg US Financial Conditions Index 39.0 -1.0 basis point.
- Volatility Index(VIX) futures 16.5 +.07%.
- Euro Stoxx 50 futures unch.
- S&P 500 futures +.04%.
- NASDAQ 100 futures +.04%.
BOTTOM LINE: Asian indices are mostly lower, weighed down by consumer and technology 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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