Spanish PM Rajoy offers Catalonia “dialogue” within bounds of law after #catalanelections http://cort.as/Xh0W
Spain 10-year govts ending 9 basis points lower after separatist parties rack up just 47.9% of vote. Spread vs Italy tightens to 18 bps.
Volkswagen scandal: German prosecutors launch investigation into former boss http://gu.com/p/4cndy?CMP=Share_iOSApp_Other …
Did we all throw the towel in on #VWStockWatch? Down another 6.8%
Overhaul of energy market among tasks looming for #Greece government. http://www.macropolis.gr/?i=portal.en.economy.2977 … #economy #energy
$13 billion gone in a month - Glencore in Freefall as Analysts See Tougher Restructuring http://bloom.bg/1KJhrc1
Glencore Default Risk Surges Above 50% http://www.zerohedge.com/news/2015-09-28/glencore-default-risk-surges-above-50 …
Glencore CDS in context with our March 2014 post http://www.zerohedge.com/news/2014-03-13/cheapest-and-most-levered-way-play-chinese-credit-commodity-crunch …
Seven reasons Volkswagen is worse than Enron - http://ow.ly/3yfAQt
E.Macron is still pushing the case for a deeper integration in the eurozone: Fiscal Transfers by a common EZ treasury http://www.wsj.com/articles/from-paris-a-push-for-deeper-eurozone-integration-1443381405 …
Massive day already: Glencore obliterated, Alcoa to split, Shell abandons offshore Alaska http://www.bloomberg.com/news/articles/2015-09-28/glencore-melt-down-shell-abandons-alaska-and-china-profits-fall-what-people-in-markets-are-talking-about … Get caught up here.
Ivan Glasenberg down to his last £1bn in Glencore shares (was £6bn-ish once upon a time). http://gu.com/p/4cn9a/stw
FTSE 350 mining index = lowest since December 2008
'Brand Germany' damaged as CDS prices of Germany Inc highlight.
Spain bond yields fall after Catalan separatist parties fall to win 50% of vote. Spanish 10-year govt bond yields -4 bps
Emerging Markets , Commodities & Asia .....
There falls Gazprom. It may end by -4% today on "tax" decisions.
US Futures Resume Tumble, Commodities Slide As Chinese "Hard-Landing" Fears Take Center Stage http://www.zerohedge.com/news/2015-09-28/us-futures-resume-tumble-commodities-slide-chinese-hard-landing-fears-take-center-st …
Oil price shock take 2: Saudi Arabia withdraws tens of billions of overseas funds from global asset managers http://app.ft.com/cms/s/0/8f2eb94c-62ac-11e5-a28b-50226830d644.html??ftcamp=crm/email//nbe/FirstFTEurope/product …
For all things #Glencore @business -> @JP_Riseborough @JavierBlas2 @tbiesheuvel @wenkennedy http://bloom.bg/1KJhrc1
#China may release more policies in the following months to achieve 7% GDP target - Economic Information Daily - http://bit.ly/1jpcsY9
Swiss competiton regulator announces probe of metals market trading. Names UBS, Barclays, HSBC & more https://www.news.admin.ch/message/index.html?lang=de&msg-id=58888 …
#China’s Aug. Industrial Companies’ Profit Falls 8.8% Y/y (3rd straight decline; largest decline since 2011)
Looks as if BoJ will start another accommodation. BoJ's Kuroda: “Further momentum needed to achieve 2% price target.”
New week starts w/ kind of risk-off attitude: Nikkei closes down 1.3% at 17645.11 while Yen strengthens vs Dollar.
Iran Seeks $150 Billion to Target 8 Percent Annual Growth http://bloom.bg/1VjHpc6
Kremlin Said to Urge Basel III Delay as Economic Crisis Deepens http://bloom.bg/1QGAfxf
China blames plunging industrial profits on exchange rate losses, weak stock markets, falling prices and rising costs. Aka a "hard landing"
Saudi Arabia withdraws up to $70bn from overseas funds to cut deficit as default prob doubled http://on.ft.com/1KHekl1