Night Trading
- Asian equity indices are -2.25% to -.75% on average.
- Asia Ex-Japan Investment Grade CDS Index 65.5 +.75 basis point.
- China Sovereign CDS 35.0 +.25 basis point.
- China Iron Ore Spot 97.7 USD/Metric Tonne -.6%.
- Crude Oil 102.50/bbl. unch.
- Gold 4,370.0 USD/t oz. -.85%.
- Swiss Franc/Offshore Chinese Renminbi Cross 8.26 -.03%.
- Bloomberg Emerging Markets Currency Index 34.21 -.04%.
- Bloomberg Global Risk-On/Risk Off Index 130.6 -.4%.
- US 10-Year Yield 4.96% unch.
- Japan 30-Year Yield 4.06% +6.0 basis points.
- Volatility Index(VIX) futures 19.0 -.7%.
- Euro Stoxx 50 futures -.24%.
- S&P 500 futures +.14%.
- NASDAQ 100 futures +.04%.
BOTTOM LINE: Asian indices are lower, weighed down by consumer discretionary and technology shares in the region. I expect US stocks to open modestly higher and to weaken into the afternoon, finishing modestly lower. The Portfolio is 50% net long heading into the day.
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