Monday, August 24, 2015

Economic News , Data & Views ( August 24 , 2015 ) - Black Monday For Asia And Emerging Markets ( Very simply stated - all major Asian Indices crushed across the board today , North Korea situation has not gone away - just not a headline issue this morning ! ) ....... Europe Stock Markets Crash ( Europe following Asia - but to a lesser degree today - red across the board for major Indices. Anyone remember Greece being a tempest in a teapot - what was the fuss about again ? ) ..... No End In Sight For Global Carnage - For Now !

Evening Wrap.....



A wild and crazy day for US trading - after Asia and Europe carnage ......




History in one chart: Today Dow Jones plummeted 1,089.42 points at one point, biggest intraday point drop ever.














"Black Monday" Brings Global Market Rout, Investors Mourn The Death Of Central Bank Omnipotence










Dow Jones total move about 6000 points (excel still calculating)








oh look, volume!








Over 4,500 mini crash events so far today. Compare to last few years:













Asia generally  , China specifically  , Emerging Market news , Commodities . Currencies ....




Oh what fresh hell is this China.
-6.2% -7.0% CSI 300 -6.0% ChiNext -7.4%
















PBoC injects RMB150B ($23B) in 7-day reverse repos (after 120B operation just last week). Yuan fix slightly stronger today 6.3987







AsiaPac Stocks Continue Collapse As Yuan Deposit Rates Spike To Record High, China Devalues, Japan Denies "G7 R...








F5: *CHINA CSI 300 STOCK-INDEX FUTURES FALL 4.3%





ONE-WEEK OFFSHORE YUAN DEPOSIT RATE JUMPS 840 BPS TO 22.9%. Its probably nothing








Stocks Plunge for Second Day








JAPAN MOF OFFICIAL: NO PLAN TO MEET WITH BOJ OFFICIALS TODAY. Not good for global coordinated bailout rumormongers







PBOC ACADEMIC SAYS RRR CUT WON'T ADD LIQUIDITY TO STOCK MARKET









Angry investors give Chinese metals exchange head taste of market forces: Chinese investors are getting pissed...









Traders in $5.3trn/d FX markets were busy Monday as currencies have had biggest day in years.









Ruble Traders Snub Medvedev’s Currency Vows Amid Deepening Rout.






In case you missed it: Bloomberg commodity index has hit fresh 16yr low mainly driven by oil, copper and other metals







Oil in free fall. Brent & WTI hit fresh 6yr low on China angst as oil production remains robust despite drop in price








Copper, Aluminum Close at Lowest Levels Since 2009





Iran’s Oil Minister vows to increase output “at any cost” - Toronto Star






Daimler Cutting 1,500 Brazil Truck Jobs as Demand Plunges







Beijing capitulates after spending $200bn to prop up equities currency intervention to prop up peg tightens credit








South and North Korea reach agreement to end military conflict






BREAKING: Chinese authorities issued notice to state media to censor negative market reports following






Europe....














tourism to hv record year despite pol turmoil.
Head of hotel owners forecast: 26ml arrivals vs 24ml 2014. Revenue €14.5bn vs €13.5








SUPER SUNDAY: Greek and Catalan elections (potentially) on the same day.


















Police confirm attack on Popular Unity’s e-mail








announces it will not participate in 'pretence' parliament sessions announced by the Speaker for next week - ouch






NEGATIVE 1yr interest rates: Austria, Belgium, Denmark, Finland, France, Germany, Japan, Switzerland, Sweden. Staggering expression of fear







Ukraine - 20% sovereign debt haircut proposal coming






Greece: How can an avalanche of tax hikes for an economy suffering from capital controls ever boost growth?





Morning Overview !









Deutsche Bank Says Rout ‘Very Serious’ as Growth Outlook Dims: Global stocks have lost $5 trillion since August 11th.





Asia , E.M , Commodities Crush .......




Photo of Airport apt analogy to Stock markets underwater right now ....






This is what Shanghai Hongqiao Airport looks like right now - completely flooded. Not a good day to fly to Shanghai !









And the really big pain trade is EM bonds . Its a high quality short...









ICYMI: The Shanghai Composite was up 60% on June 12, it is now red for the year








BREAKING: Hong Kong Financial Secretary John Tsang will meet the press and speak at 5:15pm (after stock crash in Greater China region today)








Free fallin’: Nikkei closes down 4.6% at 18540.68 in correction territory. Logs biggest ppt-fall since Jun2013









A Chinese newspaper editor just told me he got "order" that he shouldn't use words like "crisis" or "disaster" 股災 for today's market story!








Since ’s FX regime change on 11Aug, markets in sell-off mode. Shanghai Comp has plunged by 22% in Euro terms.


















DUBAI'S STOCK INDEX OPENS DOWN 5.6 PCT








INDIA CENTRAL BANK CHIEF RAJAN SAYS WON'T HAVE ANY HESITATION IN USING FOREX RESERVES AS APT TO REDUCE VOLATILITY









After arresting short-sellers, ban margin finance, hedge & program trading, now Beijing simply blames "global economy" for China crash today







ALL CHINESE STOCK INDEX FUTURES CONTRACTS FOR CSI300, CSI500, SSE50 DOWN MAXIMUM 10 PCT DAILY LIMIT DOWN








FACTS: By midday break, nearly 2000 stocks down 10% daily limit in Chinese market -- only 13 stocks up; Shanghai benchmark index down 8.45%








Shanghai Comp has closed down 8.5% way below the sacrosanct 3500 level.








Global de-risking accelerating: Commodities plunge to lowest in 16 years.









You were warned! Dr. Copper, the metal with the PhD, saw market sell-off coming.










As The EM Rout Intensifies: Saudi Arabia, Taiwan, Brazil, Indonesia Join China In Bear Market Who Will Be Next?






TAIWAN VICE FIN MINISTER SAYS "HIGHLY CONCERNED" ABOUT TAIWAN STOCK LOSSES, DOES NOT RULE OUT GOVERNMENT FUND PROPPING UP STOCKS IN DUE TIME




North Korea vs South Korea Contremps haven't gone away....












(URGENT) Deployment of U.S. B-52 strategic bomber, nuke-armed submarine in S. Korea under discussion













Europe......







: The impact of 's yuan devaluation on European stocks...


















Brent $43.31






Oil market collapsing further today, WTI hits 38 handle








COMMODITIES SLIDE TO LOWEST IN 16 YEARS AS OIL EXTENDS COLLAPSE




RTS -6% Gazprom -7.4% Lukoil -6.4% Novatek -5% Sberbank -7.4% VTB -6.11% 71.28







*GERMAN 10-YEAR BUNDS ERASE GAIN, LEAVING YIELD AT 0.56%









Main opposition leader fails to form govt; next up 4 exploratory mandate is ' newly-formed Popular Unity. He's also likely to fail







Over $1 trillion wiped off top Europe shares in August.












expectations collapse in tandem w/ commodity prices. 5y5y swap drops to 1.6210, lowest in 6mths.








rally continues. Since 's FX move on 11 Aug, common currency has gained 5 big figures vs. Dollar.











Germany's Dax breaks below 10k





Free fallin': Ruble breaks beyond 70 per Dollar as sell-off in Oil continues.








Calendar , Economic Data , US Futures  ......





this week: updates in , , + ; durable goods + flash , EZ sentiment






wages index falls 1.8% QoQ in Q1 for the 2nd successive Q to level similar to Q4 2001.










BREAKING: Dow Futures plunging 400+ points; S&P and Nasdaq Futures also steeply lower.









Stock futures tumble as Wall Street preps for meltdown:








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