Night Trading
- Asian equity indices are -1.0% to unch. on average.
- Asia Ex-Japan Investment Grade CDS Index 94.5 -.75 basis point.
- China Sovereign CDS 62.25 -.75 basis point.
- China Iron Ore Spot 101.6 USD/Metric Tonne +1.0%
- Bloomberg Emerging Markets Currency Index 39.1 unch.
- Bloomberg Global Risk-On/Risk Off Index 56.8 +2.7%.
- Volatility Index(VIX) futures 15.1 +.8%.
- Euro Stoxx 50 futures unch.
- S&P 500 futures -.39%.
- NASDAQ 100 futures -.60%.
BOTTOM LINE: Asian indices are modestly lower, weighed down by consumer and technology shares in the region. I expect US stocks to open modestly lower and to rally into the afternoon, finishing mixed. The Portfolio is 50% net long heading into the day.
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