Night Trading
- Asian equity indices are -.25% to +.5% on average.
- Asia Ex-Japan Investment Grade CDS Index 98.5 +1.75 basis points.
- China Sovereign CDS 59.75 -.75 basis point.
- China Iron Ore Spot 130.2 USD/Metric Tonne -1.9%.
- Bloomberg Emerging Markets Currency Index 41.8 +.04%.
- Bloomberg Global Risk-On/Risk Off Index 66.4 +2.4%
- Bloomberg US Financial Conditions Index .51 +3.0 basis points
- Volatility Index(VIX) futures 13.9 -.24%.
- Euro Stoxx 50 futures -.11%.
- S&P 500 futures unch.
- NASDAQ 100 futures -.05%.
BOTTOM LINE: Asian indices are mostly higher, boosted by technology and commodity 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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