Wednesday, November 18, 2015

Economic News , Data & Views ( November 18 , 2015 ) -- Europe In Focus ( Germany sells 2 year notes at new low of - 0.38 % yield - auction considered a failed auction as bids fail to meet notes on offer , Police raid in Saint Dennis for Paris Attack suspects this morning - 2 dead / 7 detained , Greece Prime Minister Tsipras set to meet Turkey's Prime Minister & President - refugee crisis on the agenda , Spain bad loans fall , Germany to hold special meeting on security after Tuesday terror attempt , Currency items / commodity related items ) ....... Asia In Focus ( Asia markets mixed as global terror causing uncertainty , China news dominating Asia this morning - commodity impacts rippling through economy , yuan falls to Sept low - yuan inclusion in SPD basket all but assured , Debt to GDP - 250 to 300 % )



Europe......






eu commission's proposed european border guard to cover spain to black sea -









24 migrants missing after boat capsizes en route to Canary Islands - 22 survivors taken to safety on La Palma






Negative is the new normal: sells 2yr notes at yield -0.38%, lowest on record.

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German 2y auc failed:Got €4.4bn bids <€5bn offer as not enough investors want Berlin pay 0.38% for holding it's debt
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Raid near "right on time," police source says; suspects "about to move to an operation." At least 2 suspects dead, 7 arrested. /








Police raid in over, area still being secured (police source)


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So much for the theory Germany deliberately created refugee crisis to import lots of cheap labour







Schengen is not the problem, said - it's the member states not following rules. In opposition to French demands








: Eyewitnesses recall raids "get out! Get out! The building is about to blow up"







Greek PM to hold talks with Davutoglu, Erdogan

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Lavrov: pre-conditions on Assad departure ‘unacceptable’ for joining anti-ISIS forces







BREAKING: 2 dead, 7 detained during manhunt for mastermind-source

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| *SPAIN BAD LOANS FALL TO EU142.8B IN SEPT.: BANK OF SPAIN


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Germany to hold special meeting on security concerns. InteriorMin of Lower Saxony says no reason to think that christmas markets are target.






ECB's Mersch: "We have no indication of any econ pessimism as a result of . Doom-and-gloom talk is not warranted at this stage”








Ruble strengthens vs Dollar decoupling from weak oil on the birth of an anti-terror entente (, US, ).
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German 10y Bund yields continue to drop as terror headlines hurt risk appetite.

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| POLICE: OP LINKED TO TERROR ATTACKS IN ST DENIS *FIVE MEN BARRICADED IN ST DEN APMNT *AT LEAST 3 POLICE WOUNDED BY ASSAULT WEAPONS












Good morning from Berlin. Asia markets mixed as global terror headlines hurt risk appetite. Dollar near 7m high.



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Only the SNB is the limit? has further room to expand their balance sheet when measured by BoJ or SNB (via RBS)
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The QE Infinity Trap: Without reforms, can generate the need for more QE b/c of lower potential growth (via RBS)


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Asia.....












Iron Ore Sinks to Four-Month Low on Demand Outlook in China







| Iron and Steel Association (CISA) official: Steel production in 2016 may fall to 783M tons from estimated 806M in 2015








| 70 Cities Newly Built Residential Y/Y

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*CHINA'S TOTAL DEBT RATIO 250-300% OF GDP, RESEARCHER SAYS; *CHINA TO NO LONGER STICK TO 3% DEFICIT-TO-GDP RED LINE: JIA










| NDRC: China Jan-Oct rail freight volume -11.9% y/y; Oct rail freight volume -16.3% y/y


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Yuan drops to lowest since Sep as RMB inclusion into 's SDR all but certain.

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