Monday, October 5, 2015

Economic News , Data & Views ( October 5 , 2015 ) Europe updates ( UK set to sell off Lloyds , Volkswagen items of note for the day , EZ Data for the morning , Glencore full takeover not on agenda as share price has unusual activity in Hong Kong , Ukraine GDP set to fall12% for 2015 , Greece budget - revenue shortfall looms , MOU item for Greece - 49 actions needed to be completed by mid-October , Germany the brand in question ) ......... Overnight News From Asia and Emerging Markets ( Japan , China , Brazil Saudi Arabia , Australia and APAC in focus ! )


Evening wrap.....




Asia & E.M ......






Australia August Trade Deficit A$3.1 Bln; Est. A$2.4b Deficit. The TPP will fix that immediately









Bank of America's Woo Says Chinese Yuan May Drop 10 Percent







With their currencies weakened, exports to US up 21% and up 17% this year.






Europe.....






Strong interest in National’s Turkish unit












Greek PM sets out policies as finance minister unveils tough budget













Air France workers rip shirts from executives after airline cuts 2,900 jobs
Air France workers saw red today..

















Morning Tweets.....









Europe









Russia, Ukraine finance ministers meeting on sidelines of G20 summit Friday to discuss the $3b bond, Siluanov says









Greek bank recapitalisation will have to be complete in Nov-December says . Before new bail-in laws come into force on Jan 1









Progress in Greece. Of a sort






“We’ll be taking temperature of new gov't,” says Sapin ahead of today's €group. We all know what comes next








Southern European yields hit 5-month lows on Portugal vote, Spain upgrade











Greece Will Not Go Down on Price of Regional Airports









FinMin Schäuble: We can't make mention of delays with the Greek programme. had elections and now has a new government.








*SCHAEUBLE SAYS DISCUSSIONS WITH IMF ON GREECE TO COME LATER









Harmonising tax & insolvency rules in EU to create capital markets union () a bad idea + lacks political support
















| *U.K. SAID TO EYE LLOYDS SALE TO INSTITUTIONS ALONGSIDE PUBLIC; LLOYDS SALE TO INSTITUTIONS SAID TO TARGET ABOUT £2.5B








| OCT SENTIX INVESTOR CONFIDENCE: 11.7 V 13.6










| Retail sales volume











. credit protection cost (CDS) rises a tad. 5y default probability now at almost 23%.













| *FULL TAKEOVER OF GLENCORE `NOT ON THE AGENDA,' TELEGRAPH SAYS








| *WORLD BANK'S FAN SAYS UKRAINE'S 2015 GDP TO FALL 12% ...hockeysticks for 2016 though











shares drop below 90 Euro on S&P warning that VW crisis has potential to affect ABS.











Lo and behold there's no Glencore bid coming. In fact company knows of no reason for share price move......









| *GREEK BUDGET TO FORECAST EU3.4B REV SHORTFALL THIS YR: EFSYN









Brand has been called into question by VW, slowdown in China & other EM, and influx of migrants. (via BBG)








Here is the first list of the 49 milestones that Greece will have to implement by mid-October









Here is the second list of the 49 milestones that Greece will have to implement by mid-October











Here is the third list of the 49 milestones that Greece will have to implement by mid-October







Asia / Emerging Markets / Commodities ......
















Japan's wage growth slows in August, keeping pressure on BOJ for more stimulus MOAR






East Asia's annual infrastructure investment demand 2014-2020 est $212bn. PPP activity led by China, Malaysia & Phil.










From World Bank report- China becoming key source of final demand for East APAC region, critical for Asian value-add.















's Nikkei ends up 1.6% at 18005.49 buoyed by talk progress, US easy policy.













| *JAPAN GOVT ADVISER ITOH SAYS ECONOMIC ESTIMATES ARE OPTIMISTIC













| Aug Port Hedland iron ore exports 39.4Mt v 39.2M m/m; new record high














| PBOC assistant Gov Zhang Xiaohui: China should strengthen fine-tuning policy rather than implement strong stimulus











| Reportedly US Navy preparing to send ships to patrol South China Sea










| Saudi Arabia cut the price of light-crude oil deliveries to Asia by $1.70/bl










World Bank has lowered growth forecasts: Cuts 2015 GDP forecast to 6.9% from 7.1%. East Asia Pacific 2015 GDP to 6.5% from 6.7%.










Good morning. Risk mkts start higher to week on dovish shift in Fed expec after weak US jobs.













Don't expect China's burgeoning consumers to lift global econ- tho +20% outbound tourism helps