Monday, November 23, 2015

Economic News , Data & Views ( November 23 , 2015 ) ..... Europe In Focus ( Monetary Policy Divergence ( Fed vs ECB ) as reflected via bond yield spreads , Eurozone PMI Data Out - Rises To 4.5 Year high - France and Germany Data In Focus , Novo Banco set to cut 1000 jobs , China cuts Saudi crude imports while increasing Russian crude imports , West extends Russia sanctions for 6 more months , German 2 year bunds fall further into record low negative territory , Belgium lockdown continues , Odds & ends ) ....... Asia and Emerging Nations In Focus ( China , Saudi Arabia , Commodity related items )


Evening wrap......





Ground Hog Day ? Where's Bill Murray ? ?










While everybody is focus on Guotai Junan's HK missing CEO mystery, there are at least 12 chiefs of private equity funds missing too!!






Russia turns up heat on oil infrastructure of ISIS , just as US has done the same thing.










Wonderful .....








Audi said on Monday it would extend the voluntary sales stop “until further notice” - models include Audi’s A6, A7, A8, Q5 and Q7: FT






BREXIT leading in new poll by The Independent. ..






Turkey 'turning away all Syrians who try to cross border'
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New tax arrears in Greece rise by 832 mln in Oct to total of 10.38 bln in 2015
















 

Turkey PM to attend Summit with EU Leaders on November 29th. Europe must finally have gotten it's ducks in a row.







 

8 hours agofred walton Retweeted Greek Reporter
Has refugee influx peaked ? Or a lull in the storm ?







US has revamped prior strategy, Dovetails nicely with Russia's strategy against ISIS.






Messy , confusing , possibly discriminatory. And more refugees and economic migrants arriving by the day.










Al Qaeda local affiliate (al Nusra) and FSA formed alliance back in March - no wonder Russia hitting both Groups.1








$17 trillion of government bonds are yielding <1% - BofA








The 5 you should see to understand 's predicament, ahead of next week's meeting









Who would have thought: the Stasi HQ may actually become useful. Next: the EP's building in Strasbourg









Europe.....






National Bank of Greece down 30%.

























LATEST: Sweeping raids fail to net suspect; extends lockdown

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: 16 arrested in overnight police raids amidst warnings of "imminent threat" of attacks







President to meet Socialist Leader, Costa, in 15 minutes.
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opposes extending EU anti-Russia , rules out veto

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Transatlantic gap widens on monetary policy divergence. 2y UST/Bund yield spread jumps to 132bps, highest since 2006


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Time for some good news: PMI rises to 4.5y high.

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data signals that growth and job creation hit 4.5-year highs in November.

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Flash Services activity at 14-month high of 55.6 (Oct: 54.5), Manufacturing at 53.5 (Oct: 53.7)









Mixed French PMI, cited for weak services. Composite PMI slips to 51.3, 3-month low.


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Flash Manufacturing rises to 19-month high of 50.8 in Nov (50.6 in Oct), signalling marginal growth










| *NOVO BANCO MAY CUT ABOUT 1,000 JOBS, JORNAL DE NEGOCIOS SAYS










| CHINA OCT. CRUDE IMPORTS FROM RUSSIA RISE 24% Y/Y *CHINA OCT. CRUDE IMPORTS FROM SAUDI ARABIA FALL 13% Y/Y












| Western leaders agreed to extend sanctions against Russia for additional 6M (until Jul of ’16) – Reuters










| *MOODY'S SAYS U.K. CREDIT RATING MAY SURVIVE EU EXIT: TELEGRAPH









's 2y yield drops to record low at -0.392% before Eurozone PMI data.


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Asia.....











| Shanshui Cement’s default forcing Chinese companies to scrap bond sales – Bloomberg












| Shanghai (Export) Containerised Freight Index record low ...


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| Offshore Yuan down >100pips at CNY6.43 (weakest level since Sept) .."devaluation bets"


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| RBI Governor Rajan: Economic slowdown in China is hurting India













Cut supply or drop Riyal Peg? face ‘critical’ choice.


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Commodity slump deepens as Dollar gains. Bloomberg Commodity Index hits fresh 16y low.


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Good morning from Berlin. Asia risk markets start the week steady as commodity slumps deepens on broad Dollar gains.


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China Grants Malaysia 50 Billion RMB RQFII Quota - Xinhua











4 Chinese bank regulators demoted for concealing wife's US citizenship, taking cash at daughter's wedding, gambling.









Guotai Junan shares down 14.5% in HK pre-market after the company said it hasn't been able to contact chairman/CEO Yim Fung since Nov 18th.










Ominous. HK-listed brokerage Guotai Junan Intl says it's lost contact with chairman/CEO Yim Fung, temporary replacements appointed