Tuesday, July 28, 2015

Economic News , Data and Views ( July 28 , 2015 ) - China selling continues during another roller coaster session ( more rescue measures unleashed - another massive injection / local authorities to buy more stocks ! ) .... Europe in Focus - UK data splash , Grexit , Greece in focus ( creditor talks , Varoufakis "interview " aftermath , Greece domestic politics as well as the International politics impacting Third Bailout Talks ) , Spain items of note , France another peripheral nation ...... Commodities crush , Odds & ends .....



Tweets....




China...




Chinese Markets To Continue To See Relentless Selling; Profound Impact To Economy Likely: BofA










With China Banks Pinched by Bailouts, PBOC Turns to State Allies







regulator has lost 1st round of tug-of-war. Shanghai Comp continues to decline despite massive intervention.










Data splash....







UK Q2 industrial output rises at strongest rate since Q4 2010







UK : Mining and quarrying/incl oil output rises 7.8% in Q2; biggest rise since Q3 1989. Manufacturing output down 0.3%









economy shows growth rebound in second quarter. Full analysis here:







UK GDP rises 0.7% in Q2 (+0.4% in Q1); Industrial Output: +1.0% Services: +0.7% Construction: 0.0%







Europe....





Kalimera troika












Greece v Spain courtesy of Deutsche Bank









German wise men on : "A permanently uncooperative member shouldn't be able to threaten existence of the euro"










Ex-advisor of French Econ Min: Greek deal makes Euro breakup far more likely, maybe via orderly departure by Germany



















Commission hit back at "false and unfounded" Varoufakis claims about controlling Greece's state revenues body












*EU SAYS TROIKA DOESN'T CONTROL GREEK PUBLIC REVENUE AGENCY









*EU SEES 'NO FIXED DEADLINE,' EYES DEAL IN 2ND HALF OF AUGUST - 'PREMATURE' TO SPECIFY FURTHER GREEK PRIOR ACTIONS






















Gen Sec of Info Systems Michalis Hatzitheodorou says reports of intervention in online tax system 'absolutely false'.












Greek FinMin Technical talks started today,to continue tmrw more intensely. We'll serve Eurogroup/summit agreement to the letter








Tsipras aide, after Varoufakis statement:This confirms there was no discussion by gov of policy for Grexit. PM didnt know about hacking plan







  retweeted




24 New Democracy MPs to submit Q to PM on whether Varoufakis should face judicial probe as well as parl't inquiry, reports Skai TV










Trans Iberian blog: Could austerity politics scupper Catalonia’s independence referendum?





How did Spain’s ‘ghost’ airport in Ciudad Real end up with a €10k price tag? by










Spain sees record tourist spending in first half. Largest increase from US visitors





















Commodities rout , Odd & Ends , best from before....





Ruble weakens beyond 60 per Dollar as rout continues.













It's been a brutal year for commodities. All but 2 have plunged in the last 12months. WTI has dropped 54%. (via BBG)














Year-end WTI forecasts... High: Macquarie $81. Low: Natixis $49 = Nobody knows








  retweeted












Asylum seekers in Germany expected to double to 450,000 this yr at cost of up to €6bn to German laender:






Next sovereign default to happen: Puerto Rico Lacks Cash for Aug. Bond Payment, Official Says














says it has presented creditors with new debt proposals and hopes to get a response during talks this week