Wednesday, August 5, 2015

Economic News , Data And Views ( August 5 , 2015 ) ...... Broader Europe In Focus ( Italy , Spain , UK , Refugee / Migrant Issues , Ukraine debt crisis , Russia , Issues confronting Europe in General ) ...... Greece Updates - A Broad Array ( Creditors status - allegedly moving along , Domestic and International politics touching on Greece Bailout , Banks crash for the third straight day , Economic Items / strikes / Greek business news ) .... China in focus - always fascinating ( Stock Market related news , business news , policy items of the day , Regulator items of the day , odds & ends ! )

Evening Tweets...

Definitely something to keep an eye on this Fall....

  1. Remember: 3600 points is "policy bottom" where Gov funds bought up stocks to rescue market. If lower than that, Gov loses big money too.

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

ISW Ukraine update. Separatists still trying 2 make Ukraine look like obstacle to peace.

's Hollande and 's Putin have reached an agreement over the cancellation of Mistral warships ~

bailout deal expected in days with elections 'likely' in fall via

Puerto Rico tax reform committee report expected Thursday. Choices are sales tax, VAT or excise

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

Legal notice of default for Puerto Rico Public Finance Corporation debt filed at EMMA system

Overview...... Big Picture Items ....

Futures Rebound On Ongoing Dollar Strength; Commodities Rise, China Slides, Greek Banks Continue Plunge

Broader Europe....

Russia plays a major role in resolving int'l problems; West should not isolate Moscow –

And '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

Southern Europe = long-term unemployed

Ukraine Creditors Said to See Latest Debt Offer as Unacceptable via

Don Quijones: Businesses Flee Catalonia, Foreign Investment Plunges, as Confrontation with Spain Comes to a Bo...

Russia submits 1.2 million sq km Arctic claim to UN

No, its not April 1. Todays' Times reveals police ignore attempted burglaries if you live in an odd-numbered house

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


government doesn’t see need for ‘haircut’ on debt but does want on board -

Syriza objecting to doing more reforms to get 2nd bridge loan: Don't want to be drip-fed to force continued reforming

Greek early elections 'likely' in the autumn, says government spokeswoman

Greece needs to pay the ECB on 20/8, but real deadline may Dutch MPs need 1w to vote for ESM loan + 1w to be called back from hols

PM Tsipras: "There are thorns in the agreement, we are forced to implement policies that are not our choice"

Are we?

Lafazanis committed to SYRIZA's election pledges

successfully rolls over 6-month T-bills, yield steady at 2.97%.

Two Greek bank stocks bump into 30% daily loss limit.

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.

popular in and (but not in )

Flights cancelled, delayed as air traffic controllers hold work stoppage

Greek stocks fall nearly 4.0% on third day of turmoil

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


Chinese textile manufacturers found a cheap new place for outsourcing: USA via

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

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

IMF review recommends delaying currency basket adoption of yuan - 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