Night Trading
- Asian equity indices are -.25% to +.25% on average.
- Asia Ex-Japan Investment Grade CDS Index 71.5 +.75 basis point.
- China Sovereign CDS 34.0 +.5 basis point.
- China Iron Ore Spot 95.60 USD/Metric Tonne unch.
- Crude Oil 93.75/bbl. -.9%.
- Gold 4,308.0 USD/t oz. +.23%.
- Swiss Franc/Offshore Chinese Renminbi Cross 8.11 -.03%.
- Bloomberg Emerging Markets Currency Index 33.76 -.07%.
- Bloomberg Global Risk-On/Risk Off Index 136.7 +.3%.
- US 10-Year Yield 5.19% -1.0 basis point.
- Japan 30-Year Yield 4.23% +6.0 basis points.
- Volatility Index(VIX) futures 18.0 +1.0%.
- Euro Stoxx 50 futures +.40%.
- S&P 500 futures -.21%.
- NASDAQ 100 futures -.21%.
BOTTOM LINE: Asian indices are mostly lower, weighed down by metals & mining and financial 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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