Thursday, October 8, 2015

Economic News , Data & views ( October 8 , 2015 ) - Around The Horn Quickly In Europe ( ECB and BOE Minutes out , ECB Bond Buying Program failing so far to prop up inflation , Rome City Council Quits , Data & News of note from Greece / Sweden / Italy , France / Germany / Finland / Ukraine / Russia ) ..... Asia and Emerging Market News & Data ( China , Brazil , Japan , Brazil , Indonesia )



Morning Tweets !






Europe.....





Greek program won't succeed with tough austerity, says former IMF chief economist Blanchard








bonds rally on minutes. ECB says to frontload purchases to prepare for lower Dec liquidity.










Nothing massively ground breaking in the minutes - full statement here:








leaves rates on hold as expected.... full minutes here:






QE infinity? 's bond buying program (balance sheet expansion) has failed to prop up inflation expectations so far








| *ROME CITY COUNCIL TO RESIGN TODAY: SKYTG24








| JULY UNEMPLOYMENT RATE: 25.0% V 25.4%E











| More "encouraging" (as Padoan would say) data *ITALY BANK BAD LOANS ROSE 14.2% Y/Y IN AUG, BANK OF ITALY SAYS








Swedish house prices +4% Q/Q in Q3 ... out of control







Finnish exports dropped 5% in August, pushing the trade balance into deficit for the first time in five months







| BdF SEPT BUSINESS SENTIMENT: 97 V 100E











Bank of France cuts Q3 GDP growth forecast to 0.2% from 0.3%








Germany’s leading economic institutes are set to lower their growth forecast for 2015 to about 1.8% from a previous estimate of 2.1%









| Exports M/M: -5.2% v -0.9% prior











| Deutsche Bank c.€23 on the German floor (-10%)








Deutsche Bank has shocked w/ a pre-announced €6.2bn Q3 loss. Even the symbolic dividend looks endangered.








Greek govt wins vote of confidence in parliament as 's default probability drops to lowest level this year.









IMF says Ukraine's GDP will fall 9% in 2015, Russia -3.8%







Asia & Emerging Market .....








Crude | *SAUDI ARABIA SAID TO ORDER SPENDING CURBS AMID OIL PRICE SLUMP



















| Brazil launched first auction of oil blocks in 2 years only to see sale flop w/just 37 blocks out of 266 offered sold.









| INDONESIA TO BECOME ASSOCIATE MEMBER OF OPEC AT PARIS MEETING IN NOVEMBER, ALONGSIDE CHINA AND MEXICO










| AUG MACHINE ORDERS M/M: -5.7% (3rd straight decline) V +2.3%E; Y/Y: -3.5% (first decline in 9M) V +3.5%E













| Foreign investors been net sellers in Japan stocks for last 8 consecutive weeks










| TRADE BALANCE: -¥326B (biggest deficit in 7M) V -¥395BE












Nikkei ends Down 1.0% at 18141.17 on bleak data. Machinery orders falling for three consecutive months in August.












Good morning from Stuttgart. China stocks & Yuan rally after wk-long break as they tried catching up to global rally.
















Rousseff Accounts Rejected, Fueling Brazil Impeachment Talk









China keeps bleeding at lower flows. FX reserves fell $43bn in Sep after $94bn in Aug as CenBank sold dollar (viaBBG)







CHINA CENTRAL BANK LAUNCHES YUAN CROSS-BORDER INTERBANK PAYMENT SYSTEM ON OCT 8










Indonesia Cuts Energy Prices in New Round of Economic Reforms