From: Ike Groff Sent Wed 6/12/2013 9:55:01 AM Subject Early Tour 6.12.13 Good Morning ... European Markets up 0-40 bps (Turkey +2.1%, Spain +1.4%, Norway +0.91%, Germany -0.15% )... ASX -0.68%, NKY225 -0.21%, KOSPI -0.56% EUR 1.3278 (-0.26%) JPY 96.57 (-0.56%) EUR/JPY 128.24 (+0.32%) AUD 0.9536 (+1.16%) NZD 0.7964 (+1.15%) Spain 10yr 4.57% Italy 10yr 4.30% Portugal 6.27% Germany 10yr 1.60% Japan 10yr 0.88% US 10yr 2.18% Futures: Dow +62, Nasdaq +9, S&P +7 DXY 581.21 (+9c) Crude $95.44 (+6c) Gold 51376.40 (- 60c) Copper +0.86% Silver +0.41% Asia muted overnight with China, HK, Taiwan, Philippines all closed for holidays. Japan kept it interesting after gapping lower on the open following overnight moves in the JPY but the Nikkei grinded higher in the PM session and briefly traded in positive territory before closing -0.21%. Sentiment was helped by the JPY weakening back > 96.50 level and the Nikkei holding 13k. Retail seemed to have been active with Mothers +2.4%, but also chatter that BOJ could have started buying ETFs (since Topix was down >1% at break) helped lend support. Australia ended lower ahead of tomorrow's employment data. India is currently on lows after economic data disappoints with April IP coming in at 2.0% vs. expectations of 2.4%, and May CPI was +9.3% vs. consensus view of +9.0%. ASEAN markets remain broadly under pressure with Singapore - 0.47%, Malaysia -0.57%, Thailand -1.09% and Indo -1.3%. European markets generally flat to up small in choppy trading (Germany lags -0.15%) Emerging markets have stabilized this morning after the sharp sell-off yesterday, helping sentiment. Media outperforms (SXMP +0.92%) after Vodafone confirms a much anticipated preliminary approach to Kabel Deutschland (KD8 GY +8.3%). In retail: Inditex is out with inline #'s and after opening lower buyers have stepped in and pushed the stock +3.0% on the day -- H&M sales also out this morning and were slightly disappointing but stock has reco