Night Trading
- Asian equity indices are -2.75% to -1.75% on average.
- Asia Ex-Japan Investment Grade CDS Index 95.25 +1.5 basis points.
- China Sovereign CDS 60.5 +2.75 basis points.
- China Iron Ore Spot 94.0 USD/Metric Tonne +.4%
- Bloomberg Emerging Markets Currency Index 38.8 -.04%.
- Bloomberg Global Risk-On/Risk Off Index 51.9 unch.
- Volatility Index(VIX) futures 20.2 +.23%.
- Euro Stoxx 50 futures n/a.
- S&P 500 futures -.15%.
- NASDAQ 100 futures -.27%.
BOTTOM LINE: Asian indices are lower, weighed down by commodity and technology shares in the region. I expect US stocks to open mixed and to weaken into the afternoon, finishing modestly lower. The Portfolio is 25% net long heading into the day.
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