From: Ike Groff Subject: Early Tour 5. Date: Mon, 13 May 2013 09:54:05 +0000 Inline-Images: image001.jpg: image002.png ; -1,,Description: Description: Good Morning ... European Markets off 0-80 bps (Spain -1.4%) ... ASX200 +0.08%, NKY225 +1.20%, KOSPI +0.20%, TWSE -0.39%, SHCOMP -0.40%, HSI -1.50% EUR 1.2969 (-0.15%) JPY 101.63 (-0.01%) EURIJPY 131.81 (-0.15%) AUD 0.9960 (-0.64%) NZD 0.8276 (-0.31%) Spain 10yr 4.25% Italy 10yr 3.94% US 10yr 1.89% Futures: Dow -50, Nasdaq -14, S&P -6 DXY $83.22 (+7c) Crude $94.92 (-$1.12) Gold $1427.20 (-$9.40) Copper +0.10% Silver -0.35% Asian markets are mixed with Japan once again outperforming, as the JPY continued to decline on back of the G7's tacit endorsement of Abe's policy. After a strong morning session, the Nikkei struggled to trade higher in the PM, following a similar pattern that we have seen for the fourth consecutive day. The sectors that led the marker today were all financials with many stocks breaking out to new 52-wk highs. Hong Kong underperforms as talk of delay in IPO resumption in the mainland failed to boost sentiment. Chinese macro data got some attention late in the day as it showed that fixed-asset investment unexpectedly decelerated last month (+20.6% vs est +21.0%) while industrial output trailed estimates (+9.4% vs est +9.5%) and retail sales were generally inline (+12.8% vs est +12.8%), adding to concerns that the economy will fail to show much of a recovery this quarter. European markets generally lower to start the week on average volumes. Periphery underperforming as sovereign spreads widen out some more. Denmark outperforms +0.94% after being closed Thursday & Friday. Turning to the US, WSJ's Jon Hilsenrath article came out Friday evening suggesting that the Fed has mapped out an exit strategy to taper bond purchases in "careful and potentially halting steps" but they will remain flexible and the timing remains uncertain (WSJ). 5 regional Fed presidents will speak this w