Friday, August 7, 2015

Economic News , Data & Views ( August 7 , 2015 ) - Greece Updates ( Sanction his tourism from Russia , Creditor Talks status , Economic Data , Refugee situation , additional items of note ) ..... Broader Europe in focus - focus on economies ( Data splash - Germany , UK , Ukraine , Spain , Portugal , Russia in focus ) .... China and Emerging Markets in focus ( Economic data , stock markets and their Regulators in focus , Commodities crush still on main stage )



Evening Wrap .....













DepPM Dragasakis: "We are almost ready for the agreement". Says technical teams to discuss fiscal targets tomorrow ~









[BREAKING] Greece's Gov’t Spokeswoman: Parliament Set To Vote On New Bailout Package Aug 18 - RTRS







Police Cybercrime unit has found no security breach linked to Varoufakis' alleged Plan B team at Tax Authority's VAT codes.







party conference likely to be held September 4~6: source |











  retweeted
govt wants to structure the bailout-linked Investment Fund as a Sovereign Wealth Fund w more assets ~






FinMin Tsakalòtos says gov't wants Greek co-operative banks to be included in the systemic-risk bank recapitalization scheme.














Poland: new legislation says banks’ share of FX-linked mortgages increases from 50% of losses to 90%.









Liquidation of Banca Romagna Cooperativa is the 1st instance of a bail-in in














ALERT .....






US Non Farm Payrolls Update..... 8:30 Am....










"Good" Jobs Data Is Bad News - Bonds, Stocks, Gold Dumped; USD Pumped









Average hourly earnings Y/Y 2.1% miss, Exp. 2.3%








Americans Not In The Labor Force Rise To Record 93.8 Million, Participation Rate At 1977 Level








US July non-farm payrolls rise by 215k (June revised from 223k to 231k). rate at 5.3 %









US economy created 215k jobs in July vs exp 225k (revised 231k in June) Unemployment rate 5.3% vs 5.3% in June Average earnings +0.2%









US still above 200K and not as bad as ADP on Wed so seen as pretty solid still. Fed remain on track!







Overview ......







The Last-Minute NFP Preview: What Wall Street Expects (And Did Hilsenrath Just Warn Of A Miss)











With All Eyes On Payrolls US Futures Tread Water; China Rises As Copper Crashes To New 6 Year Low






Tweets.....


Greece.....














Prosecutor investigates “violations of capital controls” by citizens & politicians






Greece's Tax Revenues Plummet Amid Crisis / Sputnik International via






Greece suffers as sanctions-hit Russians stay home for vacation:







Athens market +1.3%, FTSE banks +3.4%, NBG +4.8%, Alpha +3.2%, Piraeus +2.1%, Eurobank -1.6%.








*EU SEES NO PARTICULAR DECISIONS ON TONIGHT'S GREEK CALL







*EU SAYS AIDES FROM ALL EU STATES TO HOLD CALL ON GREECE - ALL 28 STATES TO GET UPDATE ON GREEK SITUATION TONIGHT








*GERMANY SAID TO PREFER FURTHER BRIDGE LOAN FOR GREECE: SZ





6-mon Trade Deficit -11.6% to €9.25 bln, Exports -1.8%, Imports -6.1%. (ELSTAT)







  retweeted
Jul CPI -2.2% YoY (unch from Jun) and -1.3% MoM. 12-month trailing CPI -1.9% (ELSTAT).







facing nurse & teacher shortages, according to those in the know &







Tsipras chairing emergency meeting on refugee crisis today. Greek gov't overwhelmed






Around 124,000 out of the +225,000 migrants & refugees that have reached Europe this year via the Mediterranean arrived to (3)







Greece has made a loan interest payment - €186.3 million - due to the International Monetary Fund, avoiding another default





Broader Europe.....




's diversity of monetary conditions between core & periphery in one chart [via ].










IMF sees Portugese recovery on track - but warns over debt & reforms:







UK TRADE DATA - exports - Y/Y change in Q2 Non EU +14.4% EU -9.8%








Major divergence now apparent with UK's EU and non EU trade





















| JUN INDUSTRIAL PRODUCTION M/M: -0.1% V 0.2%E; Y/Y: 0.6% V 1.4%E












| JUN INDUSTRIAL PRODUCTION M/M: -0.1% V 0.2%E; Y/Y: 0.6% V 1.4%E











| JUN CURRENT ACCOUNT: €24.0B V €16.0BE; TRADE BALANCE: €22.0B V €21.0BE












| JUN INDUSTRIAL PRODUCTION M/M: -1.4% V +0.3%E; Y/Y: 0.6% V 2.2%E












| *UKRAINIAN JULY PRODUCER PRICES RISE 37.0% IN YEAR











keeps bleeding: FX and reserves drops to $ 357.6bn after Central Bank has stopped FX purchases.






















China , Other Emerging Market News & Commodities











BREAKING: China's securities regulator has launched investigation on "high-frequency, computer program-oriented trading" cases - state media






MORE: Most high-frequency program trading activities are already "temporarily suspended", pending on new rules - official Securities Times







Securities Times: Regulator has "invited" some high-frequency traders for meetings but some of them already "travel abroad for holiday" now





| JULY FX RESERVES: $3.65T V $3.69T












| *CHINA’S CSF SAID TO SEEK UP TO 5T YUAN IF NEEDED FOR STOCKS (# includes CNY3T already provided)









 Top news story
Desperate times: funds hold $ 161 billion in 'ammunition' to re-enter stock market, state media 'reports'









| *SOME CHINESE BANKS CUT STK-PLEDGE RATIO OF LOANS: SEC. TIMES










PE crash have reduced levels of stocks in Shanghai and Shenzhen Valuations but still demanding. (Chart via BBG)














China 's retail investors are losing the MOST In Their stock market rout










Bloomberg Commodity Index falls to lowest level in 13.5 years







Ruble extends losses on lower oil. Brent crude trades near $ 49 / bbl.











Emerging-Market rout Polish worsens as Banks Slide, Ruble Drops.












Real weakens to lowest since 2003 as Rousseff Suffers setback. Approval rating at 8%.


























Emerging Market Mayhem: Gross Warns Of "Debacle" As Currencies, Bonds Collapse