Evening Wrap ( with much more at the tweet feed )
Asia ........
Caixin flash China manufacturing PMI signals contraction for seventh consecutive month during September
Ongoing industrial slowdown in #China underlines need for further stimulus
"@nytimesworld: Xi Jinping of China to address wary U.S. business leaders. http://nyti.ms/1LuBUGE "
Refugee situation....
SKY SOURCES: GOVERNMENT AND LOCAL AUTHORITIES IN DEADLOCK OVER PLANS FOR FIRST SYRIAN REFUGEES ARRIVING IN THE U.K.
A fresh trainload of up to 1500 refugees has just arrived at Austrian border - the second since noon @Channel4News
Peter Spiegel 
Asselborn: All MS can under "exceptional circumstances" stop quota but:
1) cannot cut quota by more than 30%
2) 'Grace period' of 12 months
So the Slovak PM was adamant that Greece abides by the rules but pledges to break rules not convenient for him?
Last week, the French interior minister stopped Germany from making this dangerous mistake. Now it went through
De Maziere warns that asylum seekers cannot 'chose' the EU country they want, and if they are found moving around, can be asked to leave EU.
CZ MEP @JanZahradil on CZ TV: "Vote'll have fatal influence on trust in EU in CZ. Not just a lost vote.Fundamentally shakes way EU operates"
Czech Interior Minister @Milan_Chovanec: "Soon we will find out that the emperor has no clothes. Reason lost today"
EU refugee quota: First 66k from GR/IT. 54k (probably from GR/IT again) at a later date, but with same "distribution key". Target is 120.000
#Hungary places steel wire along Croatian border http://www.reuters.com/news/video?videoId=365677830 …
Greece.....
New Gov't Ministers & Cabinet ....
#Greece new Cabinet:
- Deputy PM: Dragasakis
- FinMin: Tsakalotos
- Alt FinMin: Chouliarakis
- EconMin: Stathakis
- Foreign: Kotzias
Giannis Mouzalas remains #Migration minister
Broader Europe.....
A bad day for Rajoy. A huge interview gaffe this morning and now he's been shouted out by separatists in Reus.
https://www.thespainreport.com/articles/184-150922170011-rajoy-gaffe-on-spanish-nationality-goes-viral-among-catalan-separatists …
Rajoy saying at PP rally in Reus that "everyone needs to vote on Sunday, and everyone you know".
Morning Tweets.....
Overview.......
Futures Plunge On Renewed Growth, Central Bank Fears; Volkswagen Shares Crash As Default Risk Surges http://www.zerohedge.com/news/2015-09-22/futures-plunge-renewed-growth-central-bank-fears-volkswagen-shares-crash-default-ris …
Dead Cat Bounce Dies - Dow Down 700 Points From Fed's Fold http://www.zerohedge.com/news/2015-09-22/dead-cat-bounce-dies-dow-down-700-points-feds-fold …
Europe Items.....
French Economy Minister under fire for challenging civil service perks: http://openeurope.org.uk/daily-shakeup/visegrad-summit-rejects-migrant-quotas-as-prague-threatens-to-take-eu-to-court/#section-8 …
#migration austria's Johanna MIKL-LEITNER calls for qmv on quotas if needed
#migration de maiziere - 'will be hard, not sure we'll get a result'
De Maziere: Any agreement today will only be the foundation. We need to address causes of people coming to Europe. #migrantcrisis
De Maziere: Beyond finding a settlement for 120K refugees - we also need to combat and prevent the flow of peoples to Europe. #migrantcrisis
Thomas De Maziere, German Interior Minister: Europe cannot afford to not reach a solution today. #migrantcrisis
Refugees get €800 cash in Denmark (Germany: €352, France: €330, Austria: €50, Italy/GR: €0) http://www.welt.de/politik/deutschland/article146612249/Ahnungslos-lustlos-und-total-ueberfordert.html …
EU Aid Commissioner Christos Stylianides at @MartensCentre: almost 2m refugees in Turkey now, they can count on the EU
DETAILS: All regular passenger services to be cut between Salzburg, Munich
http://sptnkne.ws/MCc
#MigrantCrisis
BREAKING: German railway suspends services to Austria, Hungary amid #MigrantCrisis
http://sptnkne.ws/MCc
DETAILS: Germany is 2nd EU member to cut train services due to #MigrantCrisis
http://sptnkne.ws/MCc
#DeutscheBahn
EU Aid Commissioner Christos Stylianides at @MartensCentre: political solution for conflict is the only way out, 20m in need in Syria & Iraq
EU Aid Commissioner Christos Stylianides at @MartensCentre: €4bn in EU funds for Syria, incl support for Jordan,Lebanon, have been mobilised
EU Aid Commissioner Stylianides at @MartensCentre: "EU Commission is trying to do more within bounds of our already tight budget" (sic)
This @UNHCR map shows the route followed by #refugees through #Greece http://data.unhcr.org/mediterranean/country.php?id=83&utm_content=buffer96d24&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer …
Meanwhile, the German gov't has reportedly hired McKinsey to find a solution to the #migrantcrisis: http://openeurope.org.uk/daily-shakeup/visegrad-summit-rejects-migrant-quotas-as-prague-threatens-to-take-eu-to-court/ …
Latest reports suggest EU has agreed to relocate 50,400 over next two years: http://openeurope.org.uk/daily-shakeup/visegrad-summit-rejects-migrant-quotas-as-prague-threatens-to-take-eu-to-court/ … #migrantcrisis
Visegrad summit rejects mandatory migrant quotas as Prague threatens to take EU to court: http://openeurope.org.uk/daily-shakeup/visegrad-summit-rejects-migrant-quotas-as-prague-threatens-to-take-eu-to-court/ … #migrantcrisis
CZECH PM SAYS EVEN IF WE ARE OUTVOTED ON MIGRATION QUOTAS, SYSTEM WILL NOT START WORKING
Reports EU has dropped idea of fining MS €6,500 for each person under their allotted migrant quota: http://openeurope.org.uk/daily-shakeup/visegrad-summit-rejects-migrant-quotas-as-prague-threatens-to-take-eu-to-court/ …
Serbia gives Croatia (and EU) deadline to open border today. Emergency gov't meet called in Belgrade 14.30 local time. #migrantcrisis (@dpa)
#Catalonia and Madrid wage battle of diplomacy over independence http://bit.ly/1V7dVDl #cataloniaindependencia
France ready to bomb #Syria 'in self-defense' – foreign minister http://on.rt.com/6ryb
#Greece's Bank Review Holds Key to 3 Billion-Euro Payment, EU Says http://bloom.bg/1MGbkMn via @rebeccawire
#Greece: draconian squeeze of primary expenditure has eased slightly, 1st time since January http://bruegel.org/2015/09/greece-budget-update-september/ …
Stoxx 600 miners drop to 2009 low
Glencore -9.5% today. Fresh record low.
Greece monthly flows of revenues & expenditure, and difference to target http://bru.gl/1Orpdyb
UPDATE: CATALAN NATIONAL ASSEMBLY PROMISES DOUBLING OF GDP IN 10 YEARS
https://www.thespainreport.com/newsitems/174-150922112007-update-catalan-national-assembly-promises-doubling-of-gdp-in-10-years …
#ECB Pledge to defend inflation mandate boosts Eurozone bonds. Yields fall across Eurozone. http://bloom.bg/1KJChfP
Ukraine credit event approaching as country plans to suspend $500m principal payment due tomorrow http://bloom.bg/1KJNgG3 with @martoneder
Refugees find shelter in the train station Victoria of Athens, on September 22, 2015 Photos: © Aggelos Barai #Athens
Wet through after the boat journey from Turkey. More arrivals this morning. Five or six boats to Lesbos.
#MigrantCrisis: EU will not impose quotas for #refugees, distribution will be voluntary http://sptnkne.ws/M7g
VW shares plunging now. -17%. They've lost a third of their value in last 2 days.
VW -11%
Volkswagen shares drop another 5% as VW CEO may be at risk & VW's crisis has potential to accelerate demise of Diesel
Ex-Greek finance minister Tsakalotos said reluctant to take job again http://dlvr.it/CDS4TM
#Greece cash primary surplus improves by 32.4 pct to 3.07 bln on revenue boost in August. http://www.macropolis.gr/?i=portal.en.economy.2961&itemId=2961 … #economy
Refugees shun France, land of red tape, unemployment and poor housing http://www.telegraph.co.uk/news/worldnews/europe/france/11880391/Refugees-shun-France-land-of-red-tape-unemployment-and-poor-housing.html …
#Greece tax arrears rise again in August as 645 mln in new debt added for total of 6.92 bln this year. http://www.macropolis.gr/?i=portal.en.economy.2958 … #economy
German public debt down 0.9% in 2nd quarter 2015 https://www.destatis.de/EN/PressServices/Press/pr/2015/09/PE15_348_713.html …
Luis Maria Linde says catalan banks will be kicked out from Euro / Ecb funding if Catalonia secedes.
Previous coalition government Fin & Econ Mins to retain their posts in the new cabinet, according to local media. #Greece #politics #economy
Islamic State Threatens Cyber-Attack Against U.K., SITE Says http://bloom.bg/1iKlfnE
Morning Note: 1. Xi Jinping on tour. 2. Fed's Lockhart on #Team2015. 3. VW scandal spreads
New Democracy, which distanced itself from bailout in elex campaign, now making it clear it won't vote for MoU bits it doesn't like #Greece
Restrictions on capital slash imports http://dlvr.it/CDF5bx
Asia Items.....
Our #China Economist poses & answers 'Ten urgent questions' on the economy - see note https://insights.abnamro.nl/en/china-watch-ten-urgent-questions/ …
#China Stocks Post Longest Win Streak in Month as Brokerages Jump - Bloomberg - http://bloom.bg/1FqFgcp
China slowdown brings pain for migrant workers- labour mkt imbalance hasn't meant wage growth http://www.wsj.com/articles/chinas-workers-stumble-as-factories-stall-1442885292?mod=e2tw …
#CNY | #Yuan Weakens as #PBOC Cuts Fixing Before #China Manufacturing Data - Bloomberg - http://bloom.bg/1Pmw9tN
#China has become a source of instability rather than growth. That makes upcoming us-china summit more challenging.
Watch out for this- China looks to ditch $50K cap on individual outbound investment, outflows up to 50% of net assets allowed via @simonting
#China investors shun world's wildest stocks as trading dries up. http://bloom.bg/1JlTNRL
In keeping with rare bright spot in ADB outlook today- Vietnam still going great guns, credit growth to beat target. http://www.reuters.com/article/2015/09/22/vietnam-economy-credit-idUSL4N11S1CV20150922 …
Elderly Japanese Population Hits New Record - Demographic Death-Rattle Continues http://www.zerohedge.com/news/2015-09-21/elderly-japanese-population-hits-new-record-demographic-death-rattle-continues …
Major economy unemployment, September.
Italy: 12%
France: 10.4%
Brazil: 7.5%
Germany: 6.4%
UK: 5.6%
US: 5.1%
China: 4%
Japan: 3.3%
PBOC Devalues Yuan, Injects More Liquidity As China's Banking Regulator Admits "Bad Loan Situation Is More Seve... http://www.zerohedge.com/news/2015-09-21/pboc-devalues-yuan-injects-more-liquidity-chinas-banking-regulator-admits-bad-loan-s …
"Emerging Markets Are On The Verge Of Liquidation" Top Performing Hedge Fund Manager Warns; "QE4 Is Coming" http://www.zerohedge.com/news/2015-09-21/emerging-markets-are-verge-liquidation-top-performing-hedge-fund-manager-warns-qe4-c …
Share of world economy (PPP)
1980
China and India: 5.3%
US and EU: 52.4%
2020
China and India: 27.5%
US and EU: 30.4%
With China Slowing, Faster Reforms Critical To Generate Jobs http://wp.me/p5bzDP-3l8
Youth unemployment, current
Greece: 51.8%
Spain: 48.6%
Italy: 40.5%
France: 24.1%
UK: 16.1%
India: 12.9%
US: 11.7%
Germany: 7%
Japan: 5.5%
Price change since September, 2014.
Crude oil: -50%
Natural gas: -33%
Copper: -22%
Aluminum: -16%
Coal: -12%
Steel: -69%
Silver: -17%
China has UK's support to get the yuan in IMF's SDR basket- Chinese Vice Premier Ma Kai after meeting George Osborne http://uk.reuters.com/article/2015/09/21/uk-china-britain-sdr-idUKKCN0RL0HY20150921 …
The U.S. Congress should have done that long ago and save them from the Aiib fiasco.
Fastest growing G20 economies, 2015.
India: 7.5%
China: 6.9%
Indonesia: 4.8%
Turkey: 2.8%
Saudi: 2.7%
Korea: 2.6%
Mexico: 2.5%
UK: 2.5%
No comments:
Post a Comment