OVERNIGHT MARKETS AND NEWS Monday, June 10th, 2013

June E-mini S&Ps (ESM13 +0.35%) this morning are up +0.38% and European stocks are higher by +0.14%. Asian stocks closed higher: Japan +4.94%, Hong Kong +0.18%, China and Australia closed for holiday, Taiwan +0.81%, Singapore +0.50%, South Korea +0.40%, India +0.06%. An upward revision to Japan Q1 GDP to +4.1% annualized from +3.5% annualized has boosted global equities, while commodity prices are weaker with July copper at a 1-month low after China May industrial production grew less than expected and after China May exports grew at the slowest pace in 16-months. July WTI crude oil (CLN13 -0.52%) is down -0.43%, July gasoline (RBN13 -0.40%) is down -0.27%, July natural gas (NGN13 +0.37%) is up +0.57%, Aug gold (GCQ13 -0.04%) is down -0.24% and July copper (HGN13 -1.19%) is down -1.39%%. Agriculture prices are weaker. The dollar index (DXY00 +0.23%) is up +0.20%. EUR/USD (^EURUSD) is down -0.01%. USD/JPY (^USDJPY)is up +1.29%. September 10-year T-note futures prices (ZNU13 -0.05%) are down -3.5 ticks.

Eurozone June Sentix investor confidence rose +4.0 from May to -11.6, less than expectations of +4.3 to -11.3.

Japan May consumer confidence rose +1.2 from April to 45.7, its highest level in 6 years and stronger than expectations of +0.2 to 44.7.

Japan Q1 GDP was revised higher to +4.1% annualized from the originally reported +3.5% annualized.

The China May trade balance widened to $20.43 billion from $18.16 billion in April, larger than expectations of $20.00 billion. May exports rose +1.0% y/y, which matched its slowest pace in 16-months and was weaker than expectations of +7.4% y/y, and May imports unexpectedly fell -0.3% y/y, much weaker than expectations of +6.6% y/y.

The China May CPI rose +2.1% y/y, smaller than expectations of +2.5% y/y, and May PPI fell -2.9% y/y, the biggest decline in 8 months and a bigger drop than expectations of -2.5% y/y.

China May new yuan loans rose +667.4 billion yuan, weaker than expectations of +815.0 billion yuan.