Wednesday, September 16, 2015

Economic News , Data & Views ( September 16 , 2015 ) ..... Refugee situation Updates ( Croatia to allow refugees to pass into western Europe , Germany and Austria call for an Emergency Summit - origin / transit countries / hotspots their focus rather than quotas , Eastern European countries still recalcitrant regarding quotas and taking on refugees in general ) ...... Europe ( One hub of refugees , Syria , still caught in geopolitical struggles as UK consider No Fly Zone / French to lauch air-strikes in coming weeks / Putin vows to continue to support Assad , Polling for Saxony , Greece Snap Election items , EZ Growth for 2016 cut by OECD , ECB's Constancio speaks on QE , French Fin Min speaks on French debt and deficit targets ) ..... Asia Updates ( China , Japan and Australia in primary focus )



Evening wrap......














poll [KapaResearch]:
Syriza 29 (+2.3) ND 28.4 (+2.2) GD 6.7 PASOK 5.9 ΚΚΕ 5.5 Potami 5 LAE 3.5 EK 3.2 ANEL 3









Grim NODX worsens recessionary outlook- Singapore Q2 GDP -4% SAAR, manufacturing contracting for 3 straight quarters.














Apparently Chinese Apple fans are selling kidneys online and donating sperm to raise cash for the new iPhone











SAFE: yuan depreciation pressure "basically released" after deval, no basis for further weakening. Hasn't witnessed any large-scale outflows








China's foreign exchange regulator to conduct checks on firms' forex buying after "some engaged in large-scale purchases for arbitrage"








And another poll , this time ND leading Syriza.









This poll from ProRata shows Syriza leading ND..









This was just a matter of time...





Hungarian military Humvees, mounted with guns, approach border with Serbia | Liveblog →













































Serbia-Hungary border crossing closed for 30 days : Serbia








Slovenia will temporarily introduce passport controls at its border with Hungary, PM Cerar announces: Slovenia's STA News Agency






*GREEK AID ACCORD `CANNOT BE CHANGED' BY NEW GOVT: GERMANY








Morning Tweets.......







Refugee situation.....






Slovak PM: Refugees quotas are "the dumbest thing ever" which he'll "never support", accuses Germany of "blackmail"











WATCH LIVE: and block main highway at Hungarian-Serbian border




















ORF: Trains to Germany from Salzburg temporarily suspended. So refugees are walking to Germany. .










Migrants keep sneaking through Hungary's razor-wire fence





















































First migrants enter Croatia after Hungary seals border
















Europe.....





Farmers launch highway protests over tax measures, social security reform











*ECB TRIMS BANK CAPITAL REQUIREMENT AT FRENCH REQUEST, PAIS SAYS








this will cause more from





























Infratest dimap poll for Saxony: CDU/CSU - 38% Linke - 17% Greens - 7% AfD and SPD - 13% NPD - 5%









Opinion polls: ND leads with 0.5%, “undecided” voters to determine the winner








Greek Elections: New Democracy Slightly Ahead, SYRIZA Loses Young Vote









After lacklustre debate, cartoon by Dimitris Hantzopoulos portrays Tsipras & Meimarakis as puppets in Merkel's hands







OECD cuts 2016 growth forecast to 1.9% from 2.1%.










..and Ukrainian govt bonds start falling -4.97% 06/07/2016







Ukraine said to consider default not suspension if deal fails. Ukraine Parliament said to risk failing to pass debt deal.









Ukraine's parliament may struggle to pass the $18 billion debt deal, making default on next week's bond possible














’s Constancio: Says quantitative easing relatively small so far. Can expand QE if needed.






French FinMin: Debt to stabilize under 100% of GDP in 2016. (Keep in mind: Maastricht sets a limit of 60%)








French FinMin: Will meet 2015 deficit target of 3.8% GDP, will cut to 3.3% in 2016 (still above Maastricht limit).










Five charts show tough job facing next Greek prime minister












Asia......



BREAKING: Assistant Chairman of China Securities Regulatory Commission Zhang Yujun taken by police for investigation










MORE: Zhang was also ex-General Manager of Shanghai Stock Exchange and Shenzhen Stock Exchange for many yrs before moving to regulator CSRC







MORE: State media say Zhang found by police to have "serious breach of regulations & disciplines" in his role as Assistant Chairman at CSRC






S&P: govt's strategy to revive econ growth & end deflation appears unlikely to reverse fiscal deterioration.












S&P CUTS JAPAN TO A+ FROM AA-








China's mighty brokerages have further to fall- CITIC president's insider trading probe just the beginning













Huge late swing in China: Shanghai Comp had its 5th-biggest gain of past 5yrs, closed 4.89% higher from -0.72% at low













So Chinese stocks went giddy-up for no apparent reason today. +4.9% +6.5% CSI 300 +5% ChiNext +7.2%














Markets in risk-on mood ahead of the Fed. Shanghai Comp gains almost 5%. Ends up 4.9% at 3152.26.













Chinese man detained by police for 10 days after spreading rumour of a female vampire biting people in Guangzhou.














. Story is more complex: SOEs were catching up fast until 2007, then used for stimulus.













's latest SOE reform plan lacks ambition. Debt buildup, overcapacity hampering recent performance.














Good Morning from Berlin. Wall Street sends some vibes across the globe as markets hope for a one and done hike.












Head Of China's 'Goldman Sachs' Probed For Insider Trading As "Market Purification" Continues












Traders Fear Second China State Entity Default As Aussie Leading Index Plunges, PBOC Devalues Yuan










Xi: China needs to make "unswerving efforts" to open up foreign market access for growth. Again with the unswerving.











Chinese investors, stymied by regulators, shift focus from stock to commodities futures- but Beijing's onto that too









AsiaPac Quiet, Too Quiet: Aussie Leading Index Plunges, PBOC Devalues Yuan, & China's "$800,000 Dog" Bubble Bursts