Night Trading
- Asian equity indices are -.75% to unch. on average.
- Asia Ex-Japan Investment Grade CDS Index 76.75 +.5 basis point.
- China Sovereign CDS 43.5 +.25 basis point.
- China Iron Ore Spot 108.1 USD/Metric Tonne -.4%.
- Crude Oil 104.81/bbl. -1.5%
- Gold 4,544.2 USD/t oz. +.2%.
- Swiss Franc/Offshore Chinese Renminbi Cross 8.71 -.02%.
- Bloomberg Emerging Markets Currency Index 35.40 -.05%.
- Bloomberg Global Risk-On/Risk Off Index 117.7 -.2%
- US 10-Year Yield 4.40% n/a.
- Japan 30-Year Yield 3.75% n/a.
- Volatility Index(VIX) futures 21.0 -.5%.
- Euro Stoxx 50 futures -.4%.
- S&P 500 futures +.03%.
- NASDAQ 100 futures +.08%.
BOTTOM LINE: Asian indices are modestly lower, weighed down by transport 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 50% net long heading into the day.
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