Monday, September 21, 2015

Economic News , Data & Views ( September 21 , 2015 ) - Greece Updates ( Snap Election In focus - Syriza returns to power with Independent Greeks , Economic data , Odds & ends ) .... Spain In Focus ( Spain's Central Bank threatens Catalans regarding independence vote - capital controls and euro exit is " post - independence " future , Polling data , pondering the impact of Syriza's surprising victory on Catalan Independence votes and additional Elections coming this Fall & Winter ) ........ Refugee Crisis Updates ( Greece , Eastern Europe , Political State of play - focus on Interior Minister & Leaders Summit this week )

Evening wrap......

"Emerging Markets Are On The Verge Of Liquidation" Top Performing Hedge Fund Manager Warns; "QE4 Is Coming"


In an interview with the FT,  Burbank said years of QE had caused a misallocation of capital across the world, while the end of QE last year triggered a dollar rally with consequences that were only now beginning to be realized.

"The wrong people got the capital — emerging markets countries and corporates and a lot of cyclical companies like mining and energy, particularly shale companies — and this is now a major problem for the credit markets," he said.


With the Greece election drama , next up is Spain - Catalan Region votes September 27th in Local Elections .

One week until election called by the leader of as a de-facto vote on independence (Spanish govt will not allow referendum)

Estimates TVI after poll: PSD / CDS, 36.8% (+0.6); PS, 36% (+0.2); CDU, 8.7% (-0.5); BE, 5.2% (-0.2).

Investors losing patience w/ . Brazilian 5y default probability jumps to >26% on budget woes.

is poster child for pol uncertainty in EM, a topic that to discuss in Turkey.

has breached 200d MA of $1.1208 as dovish ECB hasn't inspired any confidence in Euro.

Draft conclusion Eu interior minister with relocations for & . Also will host.

Morning Tweets.....

Greece - Snap Election In Review , Economic data ......

is at his strongest, but for how long? on why the PM should ponder, not celebrate

Greece's ex-prime minister gets second chance as storms to victory

EU welcomes Tsipras victory, says no 'time to lose' on reforms

Very interesting thoughts on and abstention by

Tsipras expected to be sworn in as Prime Minister at 8:00 pm Monday

New Greece gov't to back Turkish Stream project - official

's 5y default probability drops below 60% as Euclid Tsakalotos to be 's FinMin again, DJ reports.

Greek current account surplus jumps to 4.25 bln in July on SMP returns & low imports

28 minutes agoGreek neo-Nazi party Golden Dawn gained popularity in last night's elections:

Greek election triumph for left masks gains for the far right

Spain .......

Spain's central bank gov pulls a Schulz on Catalans: threatening capital controls and euro exit post-independence

Spanish main parties hold lead ahead of Podemos - Poll

Syriza's 2nd election win in 2015 may impact elections in Spain (Catalonia Sep. 27, rest Dec.), Portugal (Oct. 4)

| Pro-Independence parties lead Election polls.

Refugee Crisis ......

EU set to water down refugee relocation plan

Tsipras to demand EU action on refugees

police closed border with fence. All cars are driving back

police stop migrants’ advance toward border

Croatia wants Greece to stop sending migrants to Europe

Boat carrying 70 runs aground off Rhodes

And what does Croatia suggest? That we just make them disappear?

Refugee crisis: eastern Europe foreign ministers to meet in Luxembourg - live

More than 4,000 refugees were rescued from the Mediterranean in just one day

OPINION: refugee crisis: Arab League’s inaction is shameful, writes Khalaf Ahmad Al Habtoor

Hundreds of Syrian refugees 'threaten with deportation back to Syria'

Refugee crisis to test EU itself at summit of divided leaders

Refugee crisis: we must act together, says Merkel ahead of emergency summit

Almost 11,000 walked into Austria on Sunday