Night Trading
- Asian equity indices are -1.0% to unch. on average.
- Asia Ex-Japan Investment Grade CDS Index 96.75 +3.0 basis points.
- China Sovereign CDS 65.5 +2.75 basis points.
- China Iron Ore Spot 104.7 USD/Metric Tonne -.8%
- Bloomberg Emerging Markets Currency Index 39.2 -.02%.
- Bloomberg Global Risk-On/Risk Off Index 56.9 +5.0%.
- Volatility Index(VIX) futures 15.3 +.04%.
- Euro Stoxx 50 futures -.02%.
- S&P 500 futures +.13%.
- NASDAQ 100 futures +.26%.
BOTTOM LINE: Asian indices are mostly lower, weighed down by consumer and technology shares in the region. I expect US stocks to open modestly higher and to weaken into the afternoon, finishing mixed. The Portfolio is 50% net long heading into the day.
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