From: Ike Groff Subject: Early Tour 1.8.14 Date: Wed, 08 Jan 2014 11:02:03 +0000 Inline-Images: image00 1 jpg; image002.png (,Description: Description: Good Morning ... European Markets mixed +/- 30bps (UK -0.41%, Portugal +0.60%, Greece +2.4%) NKY +1.94%. SHCOMP -0.15%, HSI +1.25%, KOSPI -0.02%, TWSE +0.51%, ASX -0.02% EUR 1.3588 (-0.20%) JPY 104.69 (-0.09%) EUR/JPY 142.25 (-0.11%) NZD 0.8279 (-0.05%) AUD 0.8925 (-0.02%) SEK -0.59% CAD -0.38% US 10yr 2.95% Spain 10yr 3.77% (-0.83%) Italy 10yr 3.86% (-0.24%) Futures: Dow -22, Nasdaq -4, S&P -2 DXY $81.01 (+18c) Crude $93.73 (+6c) Gold $1226.30 (-$3.40) Copper unch Silver -1.10% Nat Gas +1.14% Asian markets were mostly higher overnight following the stronger lead out of the US. Japan outperformed with the Nikkei closing at the highs as the JPY is trading back toward 105. Japan Tobacco lagged and closed -2.5% on reports that China may ban smoking in public places by year-end (weakness is spilling over to some of the tobacco names in Europe this morning as well). Hong Kong was stronger with luxury names in focus lead by Chow Tai Fook (+10.4%) which ripped following its Q3 update and subsequent positive broker commentary. Sportswear & footwear company Belle International also closed +12.9% after better numbers. China started out stronger following news that CIRC has given the go ahead for insurers to invest in Chinext IPOs and also on comments from the CSRC recommending large corporates whose share price is sub-book to conduct buy backs. Shanghai struggled to hold onto gains on the usual IPO related liquidity concerns and ahead of tomorrow's release of December CPI/PPI data. South Korea underperformed as the KOSPI ended flat ahead of tomorrow's BOK rate decision and options expiry. European markets mixed with negative bias (FTSE, CAC, DAX all lower) as the periphery generally outperformed the core early on again although Spain & Italy have since faded and are also lower on the session. Volum