From: Ike Groff Subject: Early Tour 12.3.12 Date: Mon, 03 Dec 2012 11:03:02 +0000 Inline-Images: image001.jpg: image002.png ;;Description: Description: Good Morning ... Europe up 0-70 bps (Italy +0.94%, Greece +1.3%) ... ASX +0.57%, NKY +0.13%, KOSPI +0.37%, SHCOMP-1.03%, HSI -0.81% EUR 1.3036 (+0.38%) JPY 82.11 (+0.45%) GBP 1.6064 (+0.32%) Spain 10yr 5.22% Italy 10yr 4.42% US 10yr 1.616% Futures: Dow +27, Nasdaq +11, S&P +3 DXY $79.95 (-20c) Crude $88.83 (-8c) Gold $1719.10 (+$6.40) Copper -0.03% Silver +1.03% China's official PMI Manufacturing out over the weekend comes in at 50.6 versus est 50.8 (50.2 prior). HSBC China PMI out overnight comes in at 50.5 versus est 50.4 (prior 49.5). But SHCOMP fails to rally and closes -1.03%. EU PMI Manufacturing #'s out today as well: Eurozone 46.2 (est 46.2), Germany 46.8 (est 46.8), France 44.5 (est 44.7), Italy 45.1 (est 46.0), Spain 45.3 (est 43.9), UK 49.1 (est 48.0), Sweden 43.2 (est 44.0), Denmark 56.7 (55.6 prior), Ireland 52.4 (52.1 prior), Greece 41.8 (41.0 prior), Russia 52.2 (52.9 prior). Greece announces debt buyback for up to €10 billion (offer to run until 5pm GMT on Dec 7, Dutch Auction for each series of designated bonds, subject to financing agreement with EFSF, etc) (details). Greek 10yrs have rallied to - 40c on the dollar and the rest of the periphery is seeing yields heading lower as well. EUR continues to tick up and currently 1.3037 last. Eurozone finance ministers meeting again today to further discuss Greece, Cyprus, Spain. No major updates on fiscal cliff talks with Geithner/Boehner making the rounds on the Sunday talk shows and both indicating very little willingness to compromise thus far (Politico). SPA's +3 handles = 1417.50 last. "'US Markit PMI @ 8:58am, ISM Manufacturing & Construction Spending @ 10am, Auto Sales @ 5pm'"" ""UBS Media & Communications Conference begins in NYC"" • UBS near deal to pay $450M to settle accusations over manipulating interest rates (NYT