Overnight Developments
CRB - Tue Feb 13, 6:29AM CST

Mar E-mini S&Ps this morning are down -0.51% after two days of gains. Losses in energy stocks are leading the overall market lower with Mar WTI crude oil down -0.54% after the International Energy Agency (IEA) warned that increased U.S. shale-oil production may counter OPEC crude production cuts. European stocks are down -0.67% as exporter stocks retreated due to strength in EUR/USD, which undercuts their earnings prospects. Asian stocks settled mostly higher: Japan -0.65%, Hong Kong +1.29%, China +0.98%, Taiwan and India closed for holiday, Australia +0.60%, Singapore +0.89%, South Korea +0.89%. Most Asian bourses moved higher today on carry-over support from gains in U.S. stocks Monday, although Japan's Nikkei Stock Index erased its gains and closed lower after USD/JPY sank to a 5-month low and undercut Japanese exporters.

The dollar index is down -0.51. EUR/USD is up +0.41. USD/JPY is down -0.97% at a 5-month low.

Mar 10-year T-note prices are up +5.5 ticks.

Japan Jan PPI of +0.3% m/m and +2.7% y/y was slightly weaker than expectations of +0.3% m/m and +2.8% y/y with the +2.7% y/y gain the smallest year-on-year increase in 6-months.

UK Jan CPI of -0.5% m/m and +3.0 y/y was stronger than expectations of -0.6% m/m and +2.9% y/y. Jan core CPI rose +2.7% y/y, stronger than expectations of +2.6% y/y.

The UK Dec house price index rose +5.2% y/y, stronger than expectations of +4.9% y/y.