Overview...... Big Picture Items ....
#German government doesn’t see need for ‘haircut’ on #Greek debt but does want #IMF on board - #Greece
#Greece PM Tsipras: "There are thorns in the agreement, we are forced to implement policies that are not our choice"
Definitely something to keep an eye on this Fall....
BREAKING: Chinese stock market opens sharply lower, now over 2% down amid growing concerns Beijing will have to resume new fundraising soon
Multiple state media reports: CSRC could re-start approval for several firms to issue new shares Friday; but no plan to resume IPO approvals
BREAKING: China's securities regulator to resume approving process for additional fundraising plans of listed companies "soon" - state media
China's Plunge Protection "National Team" Bought 900 Billion In Stocks, Goldman Calculates http://www.zerohedge.com/news/2015-08-05/chinas-plunge-protection-national-team-bought-900-billion-stocks-goldman-calculates …
ISW Ukraine update. Separatists still trying 2 make Ukraine look like obstacle to peace. http://bit.ly/1DvqlwN
How Russia’s Energy Giant Imploded http://wolfstreet.com/2015/08/05/how-russias-energy-giant-imploded/ …
#France's Hollande and #Russia's Putin have reached an agreement over the cancellation of Mistral warships ~@France24
#Greece bailout deal expected in days with elections 'likely' in fall http://dw.com/p/1GAme via @dw_english
Can France and Germany resolve their differences over how the eurozone should be managed? http://on.ft.com/1M5mwjo
Puerto Rico tax reform committee report expected Thursday. Choices are sales tax, VAT or excise
#muniland http://elvocero.com/el-impago-se-pudo-haber-evitado/ …
Puerto Rico defaulted on PFC but made bond payments Aug 1 for these debts:
GO $1.2M Cofina $329M Prasa: $2.6M MFA $91M ERS $13.8M #muniland
Legal notice of default for Puerto Rico Public Finance Corporation debt filed at @MSRB_News EMMA system #muniland
Overview...... Big Picture Items ....
Futures Rebound On Ongoing Dollar Strength; Commodities Rise, China Slides, Greek Banks Continue Plunge http://www.zerohedge.com/news/2015-08-05/futures-rebound-ongoing-dollar-strength-commodities-rise-china-slides-greek-banks-co …
IMF: "Significant work" needed before yuan put in SDR basket. "Several issues." http://www.france24.com/en/20150805-more-work-needed-before-yuan-put-sdr-basket-imf … Full report: http://www.imf.org/external/np/pp/eng/2015/071615.pdf …
Russia plays a major role in resolving int'l problems; West should not isolate Moscow – #Renzi http://sptnkne.ws/8dH
And @elespanolcom's poll of polls over the last few months:
PP 27% PSOE 24% Podemos 18% Ciudadanos 13%
% of Spaniards who believe party X will win the general election:
PP 40.1% PSOE 22.2% Podemos 6.9% Ciudadanos 1.6%
LATEST: New CIS survey results (share of vote):
PP 28.2% PSOE 24.9% Podemos 15.7% Ciudadanos 11.1%
How the Calais Migrant Crisis Is Affecting UK Roads and Residents http://bit.ly/1gIAVqe
Southern Europe = long-term unemployed
Ukraine Creditors Said to See Latest Debt Offer as Unacceptable http://bloom.bg/1JLuk9G via
Don Quijones: Businesses Flee Catalonia, Foreign Investment Plunges, as Confrontation with Spain Comes to a Bo... http://bit.ly/1g8pnfa
Russia submits 1.2 million sq km Arctic claim to UN http://on.rt.com/6ogb
No, its not April 1. Todays' Times reveals police ignore attempted burglaries if you live in an odd-numbered house
Nina Schick retweeted
Greeks and Portuguese are only peoples in EU that don't see immigration to EU in top 3 issues facing EU now.
Significant. In German the biggest group of asylum seekers (45%) actually hail from Western Balkans:
Portugal Labour Force shrinks 0.8% Y/Y in Q2, Youth Labour Force falls 3.4% - INE
Syriza objecting to doing more reforms to get 2nd bridge loan:http://www.telegraph.co.uk/finance/economics/11784364/Greek-bank-shares-plunge-for-a-third-day-as-Syriza-rejects-idea-of-second-bridge-loan.html … Don't want to be drip-fed to force continued reforming
Greek early elections 'likely' in the autumn, says government spokeswoman http://dlvr.it/BlZmgp
Greece needs to pay the ECB on 20/8, but real deadline may be...now. Dutch MPs need 1w to vote for ESM loan + 1w to be called back from hols
Lafazanis committed to SYRIZA's election pledges http://dlvr.it/BlYvFN
Two Greek bank stocks bump into 30% daily loss limit. http://bit.ly/1M4wFgd
Greek bank index trading at 237 points, -28% today after -30% each of the last two days. In Nov 2007, it topped 78,000 points.
Flights cancelled, delayed as air traffic controllers hold work stoppage http://dlvr.it/BlY1l1
Greek stocks fall nearly 4.0% on third day of turmoil http://dlvr.it/BlXxv3
Syriza's Fylis on ERT: Bridging loan scenario "off the table," 1st bailout installment will be 25 billion
Greece needs €95 bln debt relief to avoid permanent depression — twice as much as the IMF says http://www.businessinsider.com/report-greece-needs-95-billion-in-debt-relief-to-avoid-permanent-depression-twice-as-much-as-the-imf-say-2015-8 …
Greek Ferry Companies Seeking to Move Abroad http://greece.greekreporter.com/2015/08/05/greek-ferry-companies-seeking-to-move-abroad/ …
Chinese textile manufacturers found a cheap new place for outsourcing: USA http://qz.com/470358/chinese-textile-manufacturers-found-a-cheap-new-place-for-outsourcing-the-us/ … via @qz
BREAKING: China to appoint Li Chao, currently deputy head of FX regulator SAFE as vice chair of stock mkt regulator CSRC - Sohu Finance News
Outrage as China mulls limiting online payments to US$800 a day, except via big banks http://www.scmp.com/tech/e-commerce/article/1846103/outrage-china-mulls-limiting-online-payments-us800-day-except … @zensoo
What happened in last 15mins of trading before midday break? Shortsellers now back to fight again? Shanghai down 1.3%
China's sovereign fund took part in Uber-like local taxi app Didi's US$2 billion funding round http://www.scmp.com/tech/start-ups/article/1846313/china-state-fund-cic-investor-taxi-app-didi-kuaidis-us2-bln-funding …
IMF review recommends delaying currency basket adoption of yuan http://reut.rs/1E6Ce7s - will PBoC maintain the peg?
BREAKING: Chinese state media confirm Gov will inject over 1 trillion RMB via bond issues by policy banks to develop local infrastructures
First batch of 300 bln RMB policy bank bonds will be issued soon to support local housing, pipe, gas & other projects; more in next 3 years
Official Xinhua's Economic Info Daily: to support local infrastructure is now key to keep economy, investment growth amid high econ pressure