Night Trading
- Asian equity indices are -.25% to +.75% on average.
- Asia Ex-Japan Investment Grade CDS Index 66.75 +.5 basis point.
- China Sovereign CDS 43.5 -.25 basis point.
- China Iron Ore Spot 101.5 USD/Metric Tonne +.7%.
- Swiss Franc/Offshore Chinese Renminbi Cross 8.92 -.31%.
- Bloomberg Emerging Markets Currency Index 36.5 -.01%.
- Bloomberg Global Risk-On/Risk Off Index 80.4 +.4%.
- US 10-Year Yield 4.29% +1.0 basis point.
- Volatility Index(VIX) futures 18.3 -.3%.
- Euro Stoxx 50 futures +.05%.
- S&P 500 futures -.16%.
- NASDAQ 100 futures -.20%.
BOTTOM LINE: Asian indices are mostly higher, boosted by technology and commodity shares in the region. I expect US stocks to open modestly lower and rally into the afternoon, finishing mixed. The Portfolio is 50% net long heading into the day.
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