Tuesday, September 8, 2015

Economic News , Data and Views ( September 8 , 2015 ) Europe In Focus ( EZ GDP data revised up for Q2 , Political and Debt situation items for Ukraine , Greece Election / geopolitical and economic items , Refugee crisis items , Economic data for France and Germany , Farmers items ) ..... Asia Updates ( China sees horrible data for imports / exports / iron ore imports / auto imports - yet stocks magically rise 5% in last 30 minutes of trading , Japan stock market erases yearly gain - no such magic for Nikkei , Malaysia protest continue as to push for Najib's resignation )


Futures Soar After Dramatic Chinese Last Hour Intervention Following Latest Bout Of Terrible Trade Data

Evening wrap.....

MoF and BoG decided today to form a special working group on bank recapitalisation.

Brussels’ vision of ’s next gov’t: “broader coalition & legitimacy”

China Just Killed the World's Biggest Stock-Index Futures Market via

Yday it was Spanish FM, today Austria FM says the forbidden words: Fight against Islamic State needs Syria's Assad

12 days till elections: Main parties level, Independent Greeks struggling to beat threshhold

polls in recent days show a very narrow lead by Syriza. The televised debate of all political leaders (exc GD) is on tomorrow.

UNHCR: Nationalities of Med. sea arrivals Syria 53% Afghanistan 14% Eritria 7% Nigeria 3% Iraq 3% Rest

UNHCR: demographics of Med. sea arrivals 72% men 13% women 15% children. Syrians tell me: Trip tough. Men go 1st, apply for family reunion.

At any rate, we approach moment where IMF must pick from a) ignore DSA, b) ignore official sector rules or c) cut programme

Denmark wants former PM Thorning-Schmidt to land UNHCR top job. Denmark also published this ad in Lebanese press.

Morning round up.....


Say what? foreign minister says taking all would be victory for 'Islamic State'

"Five myths regarding the current refugee and migration crisis", my new comment for :

After revisions, Eurozone on track for 1.5% growth in 2015. Q2 boosted by 1.6% gain in exports as euro sank to $1.10

Breaking the Greek debt impasse: Greece needs debt restructuring. Yet, to get debt reduction, the Greek govern...

may replace as Ukraine's PM

Lenders Expect New Greek Gov’t to Present State Budget at Oct 5 Eurogroup

Nineteen Parties, 5 Coalitions Declare Intention to Participate in September 20 Elections

Greek wages index drops in Q2 to its lowest level since 2001.

* Greece says Russia has chosen route east of Greece for Syria aid flights; use of Greek airspace no longer an issue - Greek gvt spokesman

BREAKING: Bulgaria denies airspace use for Russian supply flights to - Reuters

Greece coastguard picks up nearly 500 migrants overnight

Latest twist in Russia bond saga: Russia says it will question Ukraine's IMF program If $3b bond not paid

Refugee crisis: Germany says it could take 500,000 people a year - live updates

New migrant clashes on Lesvos as EU chief warns ‘exodus’ could last years

Denmark: launches anti-migrant ad campaign

Crowd control: Raw realities of the on ’s border:

Donetsk People’s Republic cuts off coal supplies to Ukraine

EUCO President Tusk - “The present wave of migration is not a one-time incident but the beginning of a real exodus”

and another first for as main contenders appear to be vying for role of opposition leader, not prime minister.

German current account surplus surges 20.1% Y/Y in 2015 through July to €137.5bn driven by rising trade surplus

French budget deficit hits €79.8bn YTD in 2015. Not exactly austerity.


And the "invisible hand" again guiding Chinese stocks higher in the last hour...CSI 300 rallies 4% - 30 min. to close

stocks stage a 5% turnaround: Shanghai Comp ends 2.9% higher shrugging off horrible trade data.

's Nikkei erases all the gains seen in 2015. Index ends down 2.4% at 17427.08 below End-2014 level of 17450.77

Asia crisis 2.0: Ringgit falls for fifth day on lower oil, growth concern.

More doom data from : Imports dive in Aug, indicate economy fared worse than expected.

China Jan-Aug imports of automobiles down -25.6% y/y in quantity (vs. -23.9% Jan-Jul), -27.7% y/y in value.

China iron ore imports (AUG - volume) 74.12 million -14% on the month

China August trade snapshot (in yuan): Exports -6.1% y/y (prev -8.9%) Imports -14.3% y/y (prev -8.6%) Trade balance 386bn yuan (+40% m/m)

China’s foreign trade in August dropped 9.7% y-o-y; exports falling 6.1%, imports 14.3%, says China Customs

: Malaysians Escalate Push For Najib’s Resignation