From: Sent: Tue 8/6/2013 9:54:16 AM Subject: Early Tour 8.6.13 Good Morning ... European Markets mixed +/- 40 bps ... NKY +1.00%, SHCOMP +0.49%, ASX -0.11%, HSI -1.34%, KOSPI -0.50%, TWSE -1.23% EUR 1.3281 (+0.17%) JPY 98.13 (+0.18%) EUR/JPY 130.32 (-0.01%) AUD 0.8995 (+0.74%) NZD 0.7878 (+0.69%) US 10yr 2.65% Japan 10yr 0.78% Germany 10yr 1.70% Portugal 10yr 6.52% Italy 10yr 4.25% Spain 10yr 4.57% Futures: Dow -8, Nasdaq +1, S&P -1 DXY $81.73 (-15c) Crude $106.92 (+38c) Gold $1292.50 (- $9.90) Copper +1.01% Silver -0.08% It was a mixed overnight session in Asia (China & Japan up but the rest of the region generally lower) after a v choppy day in the US yesterday (only 4.6 billion shares traded yesterday in the US which was easily the lightest full trading day of the year). Japan rallied in the PM session to close +1.0% on renewed talk that their $80 billion public fund may rotate more into stocks vs bonds. China built on recent gains with the SHCOMP closing up for the 6'h consecutive day (+4.26% since last Monday). Australia closed -0.11% despite the RBA cutting rates 25bps to a record low (as expected). Hong Kong closed -1.34% thanks to HSBC's disappointing earnings yesterday (14.97% weighting in the HSI Index). India currently underperforming -2.18% as the INR hits record lows as it braces for upcoming Fed tapering out of the US. European markets mixed as earnings resume following a quiet news day yesterday. Full recap below but notable highlights include Credit Agricole trading +1.4% after beating estimates and Sky Deutschland breaking out +6.4% to - 5yr highs on solid numbers across the board. German factory orders due 6am. Obama speaks in Phoenix on housing later and will insist 30yr mortgages be widely available to borrowers in the future partially backed by a new government system that would replace Fannie/Freddie (Washington Post). US 10yr yield ticking up a bit to 2.6536% this morning. SPA's -1 handle = 1701.40 last. "'Trade