Night Trading
- Asian equity indices are -.50% to +.25% on average.
- Asia Ex-Japan Investment Grade CDS Index 98.25 -3.25 basis points.
- China Sovereign CDS 58.25 +1.25 basis points.
- China Iron Ore Spot 133.4 USD/Metric Tonne +.1%.
- Bloomberg Emerging Markets Currency Index 41.8 -.04%.
- Bloomberg Global Risk-On/Risk Off Index 67.0 +3.4%
- Bloomberg US Financial Conditions Index .30 -5.0 basis points
- Volatility Index(VIX) futures 14.4 -.2%.
- Euro Stoxx 50 futures +.16%.
- S&P 500 futures -.06%.
- NASDAQ 100 futures -.18%.
BOTTOM LINE: Asian indices are mostly lower, weighed down by technology and financial 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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