Tuesday, September 26, 2023

Wednesday Watch

Night Trading 

  • Asian equity indices are -1.0% to -.5% on average.
  • Asia Ex-Japan Investment Grade CDS Index 128.25 +2.25 basis points. 
  • China Sovereign CDS 82.25 +2.5 basis points.
  • China Iron Ore Spot 114.6 USD/Metric Tonne -.40%.
  • Bloomberg Emerging Markets Currency Index 41.76 -.04%.
  • Bloomberg Global Risk-On/Risk Off Index 70.0 +.63%. 
  • Bloomberg US Financial Conditions Index 3.0 -3.0 basis points.
  • Volatility Index(VIX) futures 18.9 -1.6%.
  • Euro Stoxx 50 futures n/a.
  • S&P 500 futures +.12%.
  • NASDAQ 100 futures +.13%.  
Morning Preview Links

BOTTOM LINE: Asian indices are modestly lower, weighed down by technology and financial shares in the region. I expect US stocks to open mixed and to weaken into the afternoon, finishing modestly lower.  The Portfolio is 25% net long heading into the day.

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