Night Trading
- Asian equity indices are -1.25% to -.25% on average.
- Asia Ex-Japan Investment Grade CDS Index 116.5 +.5 basis point.
- China Sovereign CDS 73.25 +2.5 basis points.
- China Iron Ore Spot 126.2 USD/Metric Tonne +.8%.
- Bloomberg Emerging Markets Currency Index 41.5 -.11%.
- Bloomberg Global Risk-On/Risk Off Index 66.5 +5.1%
- Bloomberg US Financial Conditions Index .11 -6.0 basis points.
- Volatility Index(VIX) futures 16.6 -.6%.
- Euro Stoxx 50 futures -.80%.
- S&P 500 futures +.03%.
- NASDAQ 100 futures -.07%.
BOTTOM LINE: Asian indices are modestly lower, weighed down by tech and financial shares in the region. I expect US stocks to open modestly lower and to rally into the afternoon, finishing mixed. The Portfolio is 50% net long heading into the day.
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