Overseas Markets By The Numbers

• (IT) ITALY JULY RETAIL SALES M/M: -0.2% V 0.0%E; Y/Y: -3.2% V -0.8%E

• (SE) SWEDEN AUG TRADE BALANCE (SEK): 3.3B V 3.0BE

• (SE) SWEDEN SEPT CONSUMER CONFIDENCE: 2.0 V 5.4 PRIOR; MANUFACTURING CONFIDENCE: -10 V -9 PRIOR; ECONOMIC TENDENCY SURVEY: 95.8 V 97.1 PRIOR

• (DE) GERMANY SEPT CPI SAXONY M/M: 0.2% V 0.3% PRIOR; Y/Y: 2.0% V 2.1% PRIOR

• (FR) FRANCE SEPT CONSUMER CONFIDENCE: 85 V 86E

• (FI) FINLAND AUG PRELIMINARY RETAIL SALES VOLUME Y/Y: 1.2% V 0.0% PRIOR

• (DE) GERMANY SEPT CPI NORTH RHINE WESTPHALIA M/M: 0.0% V 0.4% PRIOR; Y/Y: % V 1.9% PRIOR

• (NO) NORWAY JULY AKU UNEMPLOYMENT RATE: 3.0% V 3.0%E

• (DE) GERMANY SEPT CPI BRANDENBURG M/M: -0.2% V 0.2% PRIOR; Y/Y: 1.9% V 2.0% PRIOR

• (DE) GERMANY SEPT CPI BADEN WUERTTEMBERG M/M: 0.2% V 0.2% PRIOR; Y/Y: 2.0% V 1.8% PRIOR

• (DE) GERMANY SEPT CPI HESSE M/M: 0.0% V 0.4% PRIOR; Y/Y: 2.0% V 2.3% PRIOR

• (SG) SINGAPORE AUG INDUSTRIAL PRODUCTION M/M: -2.3% V 0.0%E; Y/Y: -2.2% V 1.0%E

• (CN) China MoF sells 20-yr Bond at yield of 4.1% v 4.03% prev on April 19th

• (DE) GERMANY SELLS €3.19B V €5.0B INDICATED IN 1.5% SEPT 2022 BUNDS; AVG YIELD 1.52% V 1.42% PRIOR; BID-TO-COVER: 1.2X V 1.1X PRIOR (2nd consecutive technically uncovered auction)

• (IN) India sells total INR120B v INR120B prior in 3-month and 6-month Bills

• (IT) ITALY DEBT AGENCY (TESORO) SELLS €9.0 VS. €9.0B INDICATED IN 6-MONTH BILLS; AVG YIELD: 1.503% V 1.585% PRIOR; BID-TO-COVER 1.39X V 1.69X PRIOR

• (RU) Russia sells RUB19.2B in 2017 OFZ Bond; Yield 7.53% v 7.57% prior

• (SE) Sweden sells total SEK10.0B vs. SEK10.0B indicated in 3-month and 6-month Bills

• (SG) Singapore sells S$2.0B v S$2.9B prior in 0.25% 2014 bonds; Avg yield 0.31% v 0.27% prior

Spain 10-year bond yields move sharply higher and approach 6.0%, ahead of event risks due later in the week (including budget statement and results of banking sector stress tests); Bank of Spain cautious on Q3 GDP

• Italian yields higher ahead of tomorrow's sale of 5 and 10-yr bonds

• Italy sells 6-month bills at lowest yield since March.

• Three-month Euribor does not hit new record low

• French/German 10-yr. yield spread widens ahead of the French's government's draft budget announcement.

• Germany has second straight "technically uncovered" 2022 Bund auction

• Equity markets decline amid protests in Spain and Greece, higher peripheral yields and chatter that some investors are exiting bets related to QE3

• Shanghai Composites tests the 2,000 psychological levels and closes at the lowest level since late Jan 2009

• China money market rates drop over 90bps, as PBoC steps up liquidity injections

• More companies in China are delaying planned bond sales

• AUD/USD lower, amid commodity price weakness and RBA rate cut speculation

• EUR/JPY trades below ¥100 on broad Euro weakness

Indices: FTSE 100 -0.90% at 5,807, DAX -1.3% at 7,325, CAC-40 -1.8% at 3,450, IBEX-35 -2.3% at 7,985, FTSE MIB -2.3% at 15,567

European equity indices are broadly lower amid the sharp rise in peripheral yields and weakness in the Asian markets. The downside has been led by Spain's IBEX-35 and Italy's FTSE MIB. Losses have been seen across the banking sector, as major German banks are lower by over 4%.Resources related firms are lower, tracking the declines in commodity prices.

The London Stock Exchange [LSE.UK] is lower by more than 1.5%, after issuing its 5-month trading update. Shares of ICAP [IAP.UK] have lost over 4% following the release of H1 sales. Waste management firm Shanks [SKS.UK] has moved lower by over 12% after issuing a profit warning. In Switzerland, computer software firm Myriad Group [MYRN.CH] is lower by over 20%, as the company reported a y/y decline in H1 sales and announced plans to conduct a rights offering. In Germany, Conergy [CGY.DE] has declined by more than 20%, after MEMC terminated a wafer supply agreement with the company. German automakers have underperformed the overall DAX index, as Japanese automakers are said to be planning to lower production in China. CGG Veritas [GA.FR] is lower by more than 4%, as the company announced the terms for its previously announced rights offering. Shares of Pages Jaunes [PAG.FR] have declined by more than 3%, as the company is continuing talks with lenders related to extending the maturity of debt due in Nov 2013.

• FTSE 100 movers (Evraz -3.9%, RSA Insurance -3.5%, Vedanta -3.4%, RBS -3.2%, Kazakhymys -3.1%)

• CAC-40 movers (Credit Agricole -3.6%, Carrefour -3.5%, Renault 3.5%, ArcelorMittal -3.3%, Veolia Environmental -3.2%)

• DAX movers (Deutsche Bank -4.4%, Commerzbank -4.2%, Continental AG -3.2%, ThyssenKrupp -2.7%, Infineon -2.4%, Fresenius Medical Care +1.4%)

• IBEX-35 movers (Fomento -4.5%, Bankia -4.2%, Sacyr -4.1%, Acciona -4.1%, Gamesa -4%)

• FTSE MIB movers (Banca Popolare -4.4%, Banca Monte Paschi -4.3%, Intesa -3.7%, Mediaset -3%, Exor -3%)

• SMI movers (UBS -3%, Adecco -2.7%, Credit Suisse -2.6%, Holcim -2.1%, Richemont -1.8%)