Wednesday, March 18, 2015

Economic News , Data and Views ( March 18 , 2015 ) - Protests at the ECB Opening of its HQ Today , Greece saga set to take center stage later this week at EU Summit 3/18 and 3/19 - updates re : same , Europe area trade data , Data splash from Overnight ( China , Japan , Commodities , GBP and Euro in focus ) , IMF Loan to Ukraine in focus - new piece from John Helmer

Evening Tweets..... Fed covered at separate post linked below , tweet feed has much , much more - just highlights here !

Catharsis Ours: Federal Reserve Statement and subsequent "reaction... The Day that was......

Greek defense official to seek evidence in Moscow to back WWII claims

ruling coalition seems to lose Senate majority following today's regional elex /via

state to receive €900ml from HFSF (€555ml in cash &€345ml via repos for investing in T-Bills /via /ht

briefly jumps above $1.10 as liquidity in G10 is completely dysfunctional at the moment acc to Citi.

Negotiations with Greece Close to Breakdown as Budget Strains Worsen . Lots of detail from Yves.

IMF Labels Greece “Most Unhelpful Client in its History”: This report does not bode well for Greece Prime Mini...

| Syriza lead economist Yannis Milios tweets he leaves party's economic department

Parliament adopts new anti-poverty law

ECB, April 5, 2013: "No Plan B" ECB, March 18, 2015: Plan B is a 95% loss on Greek bonds

Morning Tweets .....


LIVE: Police used water cannons during protest in , several people injured

Thousands of anti- protesters clashing with riot police at HQ opening / 350 arrests and 88 injured police forces (dpa)

Moscovici: "We won't keep in the Eurozone at any price, but under strict conditions that are acceptable to both sides". ()



Tsipras: We are not going back on our promises


tsipras: we respond today, tomorrow, and the day after here in parliament by raising walls of sovereignty and dignity.

talks not going well, 2 officials say. Institutions not getting information on govt finances ~

Negotiations with Greece Close to Breakdown as Budget Strains Worsen: Things are not looking good for Greece.

sold 3month T-Bills at a heavy yield of 2.7%.

Greek protesters target police, torch cars in Athens demanding 'political prisoners' release

Greek PM to seek liquidity at EU leaders summit - government spokesman via

Mar-Jun debt servicing needs at €6.55bn, Greek debt agency says. Needs €2.2bn in Mar, €0.82bn Apr, €1.03bn May, €2.5bn Jun. (BBG)


RT : Euro area trade in goods surplus €8 bn in Jan 15, €11 bn deficit for EU


Oil go where EUR go. Oil prices and the euro joined at the hip:

John Helmer: IMF Loan to Ukraine Props Up Failing Banks, Enriches Oligarchs: One reason for our continued cove...

EU likely to delay sanctions decision on Russia as Ukraine pleads for more financial support

lower and UK curve flatter after below exp. wage data and BoE minutes saying strong could lead inflation to be lower for longer

T-Notes have rallied for 7 days in a row, (1-15+ points) Sequence of rallies has extended to 8 days three times since Nov '09

PM Abe says wage increases for 2015 on course to surpass last year......LESSON: If fails create Wage Inflation!!

September 2015 contract (active) now down over 2% to around CNY 443/MT, which is a fresh contract low!!!

crude now at USD 42.64, a close at USD 42.82 or lower marks a 20% decline from this year's peak.....

holdings of end-December...... public pensions sold a record 5.56trl JGBs in Q4!!

Balance (JPY) (Feb) M/M -424.6bln vs. Exp. -986.6 (Prev. -1177.5bln)