Thursday, September 24, 2015

Economic News , Data & Views ( September 24 , 2015 ) - - Initial Overview ...... Greece Updates of Note..... Items of interest and concern on Refugee Crisis .......... Around the horn in Europe ( VW and auto sector in focus , Country specific news / data - Germany , Norway , Czech , Finland , Italy - ECB item of interest ) ..... Asia and Emerging Markets ( China , Vietnam , Brazil , Turkey , South Africa , Japan in focus )

Evening wrap.....




Main routes migrants take to reach Europe 








Athens seeks shelter for migrants while waiting for EU plan to kick in









Tsipras pushes for MEPs to help monitor bailout












chief economist says central banks will have a hard time raising interest rates: 1L8R2uN























How many existing VW customers could 'put' their vehicle to VW and get fully reimbursed? recall all should expect?








Did the EU Commission burned its hand by intervening in Catalan elections?





So the question of the day - is the emission issue endemic throughout the Volkswagen Group family of vehicles ?
























Peso weakens to 17.3310 to the Dollar, weakest intraday level ever.









This is what the Federal Reserve was watching...





Morning Tweets....




Overview.....











Greece......





Significant underspend covers revenue shortfall for budget primary surplus to August


















VW could pose bigger threat to German economy than Greek crisis











Refugee situation.....



Root cause for a large portion of refugee crisis - endless war and chaos....






US blocking Russian proposal to sanction via









and deputy military chiefs to coordinate on










OPINION: 7,000 airstrikes later, lives on. Columnist writes








Today's items of note on refugee crisis itself ....



Reuters: Croatian border police say has banned citizens and cars from entering its territory









Refugees keep streaming in as Europe acts to stem the tide








German state Baden-Württemberg, ruled by the Green party, refused to accept refugees from conservative-run Bavaria





pledges $1.1 bln to agencies helping









Police surrounded last remaining in as they were resisting being forced onto buses. Stand-off





. Flows and barriers Photo: Aris Messinis/AFP









EU refugee summit in disarray as Tusk warns 'greatest tide yet to come' - via





About 1,200 refugees arrive in Lesvos on Thursday morning







Refugees arrive in Piraeus on catamaran





Broader Europe......






insists E Europe abide by QMV on refugees. Remember when Germany scotched QMV - on auto emissions? cc:









BMW denies manipulating or rigging diesel emission tests
















Stocks Tumble As Emissions Scandal Spreads To BMW; NOK Plunges On Unexpected Norway Rate Cut








Greeks are called "corrupt"; others just lobby (lob out) the rules








's Dax extends losses on Fed hangover. Now down almost 2%.








not, but VW might impact German Business morale (Ifo index).










| TO START NAMING PEOPLE RESPONSIBLE FOR MANIPULATION OF EMISSIONS TESTS ON FRIDAY - SOURCES -RTRS









| Acc to AutoBild, BMW emission tests for their X3 could show worse results than that of VW Passat:









| *NORWAY CENTRAL BANK CUTS KEY RATE BY 0.25% POINT TO 0.75%









You can be my zero baby... *CZECH 5-YEAR SOVEREIGN BOND YIELD DROPS TO ZERO







| GFK German Survey Economic Outlook v GDP










| Aug PPI M/M: 2.2% v 0.1% prior; Y/Y: -2.2% v -1.1%









JP Morgan has downgraded to neutral, Pricing a €40bn liability as European Diesel exposure is main worry.












Greek & Italian debt restructuring seems inevitable as & ’s GDP no higher with the Euro (Chart via BBG)










HFE: The bond buying program has failed on every measure especially it's main goal of stimulating bank lending.










Asia & Emerging Markets.....




| *DJ Brazil Central Bank Cuts 2015 GDP Forecast to -2.7% From -1.1%







China's 'fake' Apple stores thrive ahead of new iPhone launch








Real meltdown continues as Central Bank has cut 2015 GDP forecast to -2.7% from -1.1%.









| *SOUTH AFRICAN RAND FALLS BELOW 14 TO THE DOLLAR








Brazil Sept. Consumer Confidence Drops To Record Low 76.3







Turkish Lira falls to 3.0737 vs $








| CSI300 Futs ...just look at the "volume" the last few weeks...









as of Sept 23rd, total margin debt CNY940B v CNY941B d/d ...SHCOMP levelling off with it..











's Nikkei played catch-up with the rest of global stocks, ends down 2.8% at 17571.83 after 3d break.








| Sept CPI Y/Y: 0.0% v 0.8%e; first time on record CPI did not rise









| said to be seeking px cuts 2-6% on CH made goods from >10K suppliers; Claims China mfrs shld also be impacted by deval of CNY







Asian markets patchy. Japan's stock market deeper in the red, catching up after 3d holiday.