Wednesday, March 4, 2015

Overnight Economic News and Views ( Europe and Asia - March 4 , 2015 ) Early Highlights...... Currency movements ( Euro , Turkish lira and Dollar in focus ) , European Data splash ( Output , Business Activity , Services PMI , Business sentiment data ) , Ukraine economic items , Russia and Oil items of note , Greece items of note , Japan Services PMI data , Central Bank moves ( PBOC and RBI in focus ) ... More items of interest to consider !

Evening Tweets.....








Bundesbank’s Dombret: must keep reforming to get assistance ~RTRS





has alternative in case there will be no disbursement in March by creditors, says Greek FinMin Varoufakis ~







Emergency intervention by BoG to acquire T-bills




's minister Valavani freezes contrary to Varoufaki's letter with proposed reforms(Commit nt to roll back privtisatns}



RT : FinMin Varoufakis: We don't know yet Feb revenues, but they r above those rumored in the press (via









UKRAINE SOV. RESTRUCTURING EXIT YLD MAY BE ABOUT 12%: EXOTIX. Wait, so Ukraine now gets DIP loan?








drops to $1.1081 lowest level since Sep2003 into meeting.











Morning Tweets......



Here we go again: GUINDOS SAYS GREECE WILL LIKELY NEED AID BY JUNE. Hypothetically speaking?





's next meeting will discuss Greek liquidity and debt maturity needs /via





Greece sells EU1.14b of 26-week t-bills. Yield at 2.97% from 2.75% on Feb. 4. Coverage ratio at 1.3, as usual







Bank of funds were used to cover T-bill auction, reports





Acc to source, two non-Greek banks participated in T-bill auction.





Important win for UK and single market: EU court annuls ECB policy on clearing houses via




: the corrupt capital and home to money laundering






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EU is ‘off the rails’, needs reforms – UK foreign secretary












One of zone's least proud moments, with ECB document from Jan 2013 detailing how would get stitched up













Martin Schulz: and the four month window of opportunity






Juncker: Elections Do Not Change Treaties






falls to fresh 1mth low of $1.1131 ahead of QE.






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hits fresh 11 year highs, weighing on alongside weak services PMIs from around Europe





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Eurozone economic growth at 7-month high, as output expands across ‘big-four’ nations








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Services Business Activity Index rises to 5-month high of 54.7 in Feb (54.0 in Jan), jobs growth strengthens






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UK services PMI below expectation but all sector PMI rises - suggests GDP for Q1 of ~0.6%







Services data for shows business sentiment improving & employment rising for 1st time since 2011: Markit






Markit Composite Output Index at 42-month high of 52.2 (49.3 in January) /via






Mish's Global Economic Trend Analysis: Ukraine Hikes Rate to 30%, Requires Corporations to Sell 75% of For via





Spain's services sector put in another strong month in February. PMI 56.2 vs 56.9 January.






Prices to plummet again? running out of room to store








Tsipras' elex win cannot change EU Treaties; he will admit he won't be able to keep elex pledges: Juncker ~





Lira slumps to fresh record low of 2.5463 per Dollar on rate-cut bets.







Impotent Western Sanctions Fail To Disrupt Russian Energy Exports: Who has won and lost from the Western sanct...






Greek banks' Eurosystem funding jumps to 87.4 bln in Jan, ELA at 5.2 bln







Japan's economy remains v weak. Feb services PMI slumped from 51.3 (Jan) to 48.5. Composite at "no change" 50 level.











And Fed is hiking, LOL RT : MOAR.... CUTS SLF OVERNIGHT REPO RATE TO 4.5% FROM 5% - CAIXIN








Another cut: INDIA'S RBI CUTS REPURCHASE RATE TO 7.50% FROM 7.75%







Japanese Bonds & Stocks Drop As Services PMI Tumbles Into Contraction