From: Ike Groff Subject: Early Tour 5.10.13 Date: Fri, 10 May 2013 09:50:07 +0000 Inline-Images: image001.jpg: image002.png La.:Description: Description: Good Morning ... Europe up 20-70 bps (Italy +1.2%) ... NKY +2.93%, SHCOMP +0.62%, HSI +0.47%, ASX +0.15%, TWSE -0.07%, KOSPI -1.75% EUR 1.3010 (-0.25%) JPY 101.32 (-0.71%) EUR/JPY 131.82 (+0.47%) AUD 1.004 (-0.51%) NZD 0.8342 (-0.61%) Spain 10yr 4.24% Italy 10yr 3.89% US 10yr 1.85% Futures: Dow +35, Nasdaq +5, S&P +2 DXY $82.93 (+14c) Crude $95.71 (-68c) Gold $1448.00 (-$20.60) Copper -0.18% Silver -1.34% It was all about Japan again overnight as the JPY weakened > 101 for the first time in 4 years, driving the Nikkei +2.9% to new 5.5yr highs (Topix +5.0% and Nikkei +6.7% on the week, Nikkei now +40.5% ytd). SHCOMP closed +0.62% on the session and is now only -0.98% ytd. China new loan data came out after the close at 792.9B yuan vs est 755B yuan. Hong Kong Q1 GDP also out and comes in less than forecast at +0.2% q/q vs est +0.5%. AUD testing parity after the RBA cut its 2013 inflation forecast and reiterated forecast for below trend growth this year. The Kospi lagged the region -1.75% and gave back yesterday's surprise rate cut gains as exporters slumped on the won strength and Samsung closed -2.57%. European markets higher this morning across the board despite sovereign yields widening a touch and Eurozone banks underperforming on profit taking (aside from some short covering in the Italian banks ahead of Unicredit its @ 12:30 pm GMT). German exports inline with expectations at +0.5% m/m in March. G7 FinMins & Central Bankers meeting today in the UK. Bemanke is speaking this morning in Chicago. SPA's +2 handles = 1626.80 last. "*Bernanke speaks at 9:30am (Chicago), Treasury Budget @ 2pman • Priceline.com posted Q1 beat but profit forecast fell short on sovereign debt concerns (trading -2.5%) • Gap April Comp sales +7% yielded better prelim eps & profit guidance topped ests (trading