Night Trading
- Asian equity indices are -1.5% to -.5% on average.
- Asia Ex-Japan Investment Grade CDS Index 104.25 +1.0 basis point.
- China Sovereign CDS 73.0 +1.0 basis points.
- China Iron Ore Spot 97.4 USD/Metric Tonne -.4%.
- Bloomberg Emerging Markets Currency Index 39.9 -.06%
- Bloomberg Global Risk-On/Risk Off Index 67.6 +1.8%.
- Volatility Index(VIX) futures 16.5 +1.8%.
- Euro Stoxx 50 futures -1.33%
- S&P 500 futures -.07%.
- NASDAQ 100 futures -.07%.
BOTTOM LINE: Asian indices are modestly lower, weighed down by industrial and technology shares in the region. I expect US stocks to open modestly higher and to weaken into the afternoon, finishing modestly lower. The Portfolio is 50% net long heading into the day.
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