From: Sent: Mon 9/9/2013 10:02:28 AM Subject: Early Tour 9.9.13 Good Morning ... European Markets mostly lower 0-40bps (Italy +0.22%, Spain -0.63%) ... ASX +0.71%, NKY +2.48%, KOSPI +0.99%, TWSE +0.34%, SHCOMP +3.39%, HSI +0.57% EUR 1.3194 (+0.12%) JPY 99.45 (-0.34%) EUR/JPY 131.20 (+0.43%) AUD 0.9215 (+0.33%) ILS +0.64% IDR +1.86% US 10yr 2.89% Japan 10yr 0.75% Germany 10yr 1.95% Portugal 10yr 7.06% Italy 10yr 4.50% Spain 10yr 4.510/0 Futures: Dow +30, Nasdaq +13, S&P +3 (+90c) Copper +0.77% Silver -0.46% DXY $82.09 (-Sc) Crude $110.07 (-46c) Gold 51387.40 Asian markets were higher overnight, with China leading the way +3.39%. Trade data out over the weekend was better (exports +7.2% y/y vs cst +5.5%, imports +7.0% y/y vs est +11.3%) and there was also talk that the CSRC will allow banks to issue preferred shares to shore up capital positions. China August CPI and PPI were released today as well (both in-line with estimates). Japan showed decent gains +2.48% led by construction and real estate plays following the 2020 Olympics announcement. Japanese Q2 GDP was revised up to +3.8% from an original estimate of +2.6% before the open (expectations were for +3.9%). Australia closed near the highs following the weekend's election where the Liberal National Coalition won a clear majority as expected. India was closed for holiday. European markets generally lower 0-40 bps to start the week. Italy's Senate committee will resume discussions ® 3pm local time on whether to expel Berlusconi following his conviction for tax fraud with a final vote expected in October (Berlusconi has threatened to withdraw his party's support for the Letta coalition government if he is expelled). The latest on Syria: Charlie Rose of PBS interviewed Assad in Damascus yesterday with Assad again denying anything to do with the recent chemical attack (preview here with the full interview airing tonight @ 9pm). Obama will get his turn to sit down with PBS today an