From: Sent: Tue 4/9/2013 10:00:01 AM Subject: Early Tour 4.9.13 Good Morning ... European Markets up 20-50 bps (DAX +0.20%, Italy +0.95%, Spain +0.75%)... ASX +1.5%, NKY +0.0%, KOSPI +0.11%, TWSE -0.31%, SHCOMP +0.64%, HSI +0.81% EUR 1.3035 (+0.20%) JPY 98.83 (+0.53%) EUR/JPY 128.83 (-0.34%) AUD 1.0457 (+0.43%) Spain 10yr 4.73% Italy 10yr 4.35% US 10yr 1.75% Futures: Dow -6, Nasdaq +6, S&P +1 DXY $82.57 (-18c) Crude $93.54 (+18c) Gold $1572.20 (- 30c) Copper +0.67% Silver +0.30% Asian markets skewed higher as benign China CPI data helped boost sentiment. China CPI inflation moderated to +2.1% y/y in March from +3.2% in February and consensus +2.5% (suggesting the tick up in inflation in February was purely a Chinese New Year effect). H-Share materials and construction names were stronger after President Xi Jinping said relatively fast economic growth may continue for some time. South Korea managed to end modestly higher as it rallied late to post its first gain in seven sessions despite ongoing threats from the North. Japan continued to be a focus with hope the JPY would break 100 this morning after it weakened above 99 overnight, but the currency momentum turned early on leading the Nikkei to close flat on the session. Fairly quiet morning in terms of news flow in Europe & US. Virtually every equity market in Europe in the green today on light volumes with the periphery outperforming. Alcoa posted a mixed quarter last evening and Ron Johnson has been ousted as CEO of JCP. Tomorrow we will get Obama's budget as well as the FOMC minutes. The S&P has alternated between up and down days for 13 days in a row now. SPA's +1 handle = 1560.70 last. "'Grant's Spring Conference (NYC), IMF world economic outlook update today*** ***Jack Lew meeting with Wolfgang Schauble in Berlin & Pierre Moscovici in Paris*** **George Soros gives a lecture in Frankfurt on Europe © 5:30pm CET*** ***Wholesale Inventories 10am, ADTN & SEAC report after close**