Wednesday, September 9, 2015

Economic News , Data & Views ( September 9 , 2015 ) Asia Updates ( Stock markets largely juiced by notion that horrible economic data will produce more stimulus from china - which in turn seems more focused on imposing capital controls and not doling out a huge stimulus because it doesn't think such a stimulus is necessary ) ..... Europe In focus ( Latest items of note on Refugee situation , Greece economic and Snap Elections items of note , Not all bondholders kosher with Ukraine debt deal , UK items of note , EU/ECB "Officialdom " items of the day , Finland trims holidays )

Evening wrap......

Much more at tweet thread....


China Aug inflation data diverging. CPI +2% (prev 1.6% est 1.8%) PPI -5.9% (est -5.6%) 42nd straight month of decline for producer prices

China CPI +2% YoY better than expected, PPI -5.9% YoY worse than expected

China stock market opening indications - Shanghai Composite to open down 1.6%

AsiaPac Stocks, FX Tumble As China Devalues Yuan Most In 4 Weeks, Sees "No Need For Massive Economic Stimulus"

Another cash injection from the Chinese central bank -> PBOC to inject a further $12.5B today (Sources)

Chart: Japan's CGPI (PPI - equivalent) YoY; difficult to stabilize CPI and avoiding deflation in this environment -

China's premier attempted to reassure global markets during his speech at :

Mushroom cloud rises in at an closed airport in Hefei, E . No casualties or missing reported (CFP pics)


A key question went unanswered in : What exactly are Greeks voting for on Sept 20?

As Theodorakis just said on Live TV: "I don't think anyone became wiser after this debate." Ditto. Big time.

Tsipras's message: "the most crucial fights are both within and outside the country" & "we need to get rid of the old."

Meimarakis says that to return to 2009 income levels would take 100 billion euros in investments

Lafazanis says "memorandum means junta/dictatorship of the troika". There is antimemorandum solution.

Theodorakis says that we should focus on jobs, justice, and education.

KKE's Koutsoubas appeals to old Pasok/ND voters who fell for Tsipras to come to KKE.

Gennimata says Greece needs stable gov't for four years, sees PASOK as third-party force

Tsipras says 86-billion-euro bailout is not new debt but meant to pay old debt

Lafazanis knifes Tsipras in his closing comments: Reminds Tsipras of his pledge not to sign a 3rd memorandum.

Tsipras defends migration policy, says his gov't only one with "foresight" to create special portfolio

Meimarakis says he'll form grand coalition if elected. "But Tsipras won't even meet with me or talk to me"

Nearly an hour into televised debate of Greek party leaders & haven't been inspired to tweet a thing. All stump speech stuff.

Additional items of note.....

UK softens tone against Syria's Assad, moots transition period

Russia ready to accept Syrian refugees - ombudsman

Secretary of State Kerry says US committed to take in more syrian refugees , no details as to numbers yet.

US needs to step up&do more. Note -Donald Trump agrees that the US needs to take in syrian refugees "living in hell"

Danish train operator DSB cancels trains to and from Germany amid migrant influx

Morning tweets.....

Overview .....

Global Risk-On Euphoria: Japan's Nikkei Soars 7.7%, Biggest One Day Move In Seven Years; Equity Futures Surge


Foreign Ministry Says Military Experts Present in Syria

, in deflation since March 2013

is 'not going to quibble over numbers' when it comes to refugees

160,000 resettlements over 2 years vs 366,000 arrivals in 8 months of 2015. Draw your own conclusions.

Capitalism vs humanity.

Greek election: televised leaders' debate could prove crucial

Moscow has Greek approval for Syria flights, Russian news agency reports

crossing Mediterranean to EU Arrival trends as of 31Aug15 by

Video shows Hungarian camerawoman trips and kicks fleeing refugees

this inhuman garbage [Janusz Korwin-Mikke] calls "human garbage" when not nazi - saluting in EU parliament

Debt holders consider restructuring deal 'unfair'

. says EU to aid , tighten border controls

North Sea oil sector 'has lost 65,000 jobs'

Juncker threatens Greeks: “Greece’s next gov’t must respect bailout, or EU reaction will be…

calls for flexibility as EU prepares quota plan

UK goods exports suffer worst month in nearly five years

's Praet says QE 'largely' producing desired effects. Hm, inflation expectations have dropped sharply since Jul.

Greek industrial output falls 1.6 pct y/y in July

Citadel fund suspended from China stock market for 3 months. Suspected of algorithmic trading that distorted the market

Juncker attacks Tsipras for his unwillingness to lower Greek defense budge.

Verhofstadt (): It's disgraceful for Europe how we are treating refugees.

Juncker: As long as there is war in and terror in the will not stop.

Juncker: , and cannot be left alone to cope with this enormous challenge.

Juncker: European Union is not in a good situation. There's not enough Europe and not enough Union.

Juncker: There is no religion, there is no belief when it comes to saving refugees.

Juncker: We need to organize legal migration to Europe.

Juncker: We propose today an Emergency Trust Fund with €1.8bn for .

scraps 2 public holidays to propel economy out of recession. via

EU squeezed €7bn Greek bridge loan via loophole. Highlights how ESM can be pol animal

's 2y yields drop below 10% on global re-risking.


Indonesia strikes blow for developing nations by rebuffing China on rail deal, says…

stocks bounce for second day on stimulus hopes. Shanghai Comp closes 2.3% higher.

The fulminant return of risk in one chart. 's Nikkei jumps almost 8% while Yen weakens considerably vs Dollar.

Trying to imagine this happening anywhere else- Thai police enjoy a joke with Bangkok bombing suspect

Buying panic in Tokio: Oversold Nikkei jumps 7.7% at 18770.51 in biggest one-day gain since 2008.

Loud & clear: ex-PBOC advisor (still v influential) Li Daokui says no need for massive stimulus to grow China economy

Chinese regulator's latest stricter control on individual FX purchase and transfer is considered an effort to prevent faster capital outflow

FX regulator: banks should pay attention to 5 or more who buy foreign currency and transfer to same overseas account

Chinese investors still gorging on whatever's giving them this sugar high. SH 2.3% SZ 3.3% CSI300 +2% ChiNext 3.5%

China's Millenials in numbers.