Night Trading
- Asian equity indices are -1.75% to -.75% on average.
- Asia Ex-Japan Investment Grade CDS Index 93.75 +1.0 basis point.
- China Sovereign CDS 62.75 +2.0 basis points.
- China Iron Ore Spot 105.0 USD/Metric Tonne unch.
- Bloomberg Emerging Markets Currency Index 39.2 -.02%.
- Bloomberg Global Risk-On/Risk Off Index 56.9 +2.3%.
- Volatility Index(VIX) futures 14.6 -1.4%.
- Euro Stoxx 50 futures +.1%.
- S&P 500 futures +.21%.
- NASDAQ 100 futures +.33%.
BOTTOM LINE: Asian indices are mostly 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 mixed. The Portfolio is 50% net long heading into the day.
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