Wednesday, November 25, 2015

Economic News , Data & Views ( November 25 , 2015 ) - Europe In Focus ( ECB appears set to be even more dovish than generally thought - could engage in broader QE / euro falls a bit on the news ........ Russia early response to Turkey downing jet - Increase defensive capabilities in Syrian Airspace / Jawboning Turkey / Examining ways to inflict economic paybacks upon Turkey ........ Data of the morning - Italian Retail Sales for Sept -0.1 vs 0.0 M/M / Housing costs in Greece 40 % of disposable income vs 11.4 EU average / Italy Industrial Orders for Sept M/M -2.0 vs -5.5 / Spain Oct PMI M/M -0.7 vs -0.9 / France Consumer Confidence for Nov 96 vs 95 ....... Speakers & comments of note - Merkel / Juncker / Osbourne / Medvedev / Putin ) ....Odds& Ends !


Europe....





German 2-year yield making new lows

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hahahahahahhahah







French 2-year yield below -0.3%... A record low
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Negative is the new normal. 's govt bond yields negative out to 7yrs now.

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After Paris, it took the Brussels govt 50h to decide on security: had to consult 19 Mayors and 6 police zone chiefs











Alarm bells toll for Turkish sector over crisis
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stays the course in German debate

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's Constancio: Experience shows markets can work w/ negative rates. (More bonds negative, more bearish for Euro)


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HQ of Hellenic Football Federation (EPO) evacuated after bomb threat









Citi: Reports suggests bigger cut in repo rate. Coefficients suggest a cut to -40bp could take EURUSD to 1.04.

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Reports suggesting ECB could purchase more debt or stagger charges on banks hoarding cash have dictated play so far..









drops below $1.06 after Reuters report the is discussing broader QE & dovish comments from ECB Constancio
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September 2015 Italian retail sales -0.1% vs 0.3% prior m/m SA








Germany's military is ready to help French forces tackle Islamic State, Angela Merkel says
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Eurostat: Housing costs in Greece represent 40.7% of disposable income vs. EU average of 11.4%

















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Had to walk downtown to get to work and wondering what the strategy is to clump cops and military together


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"The damage will be hard to repair", says Russian PM regarding the incident with Turkey.






wants anti-ISIL alliance with US, France and even : Diplomat

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EU countries diverting overseas aid to cover refugee bills, report says






| *POLAND MAY SCRAP COPPER TAX, PAP SAYS CITING UNNAMED SOURCE







European stocks rise as euro slumps. Stocks Europe 600 +0.93%; euro -0.31% at $1.0611







Russia cuts gas supplies to Ukraine, threatens transit to Europe via New Europe






 

MORE:Turkey leadership deliberately supports islamisation of its country-media citing Putin
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1 hour agoRussian cruiser will cover air groups in with Fort air defense


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| *PUTIN:NOT POSSIBLE TO RULE OUT AIR INCIDENTS IN SYRIA; RUSSIA WILL HAVE TO RESPOND TO FUTURE AIR INCIDENTS: IFX






| Sept Industrial Orders M/M: -2.0% v -5.5% prior; Y/Y: -0.8% v 2.1%

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| EURO ZONE CENTRAL BANKS DISCUSS WHETHER TO IMPOSE TWO-TIERED CHARGE ON BANKS FOR DEPOSITS AT ECB - MONETARY OFFICIALS









| *PUTIN SAYS S-300 WILL BE SENT TO RUSSIA BASE IN SYRIA: IFX







| *PADOAN: ITALY COSTS FOR MIGRANT CRISIS MAY RISE TO EU4B IN 2016 ...why didn't you just make it €5.675B?









| Oct PPI M/M: -0.7% v -0.9% prior; Y/Y: -3.5% v -3.6%

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| *GAZPROM HALTS SUPPLIES OF GAS TO UKRAINE UNTIL NEW PAYMENT






| NOV CONSUMER CONFIDENCE: 96 V 95E
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| *RUSSIA MAY CANCEL JOINT PROJECTS W/ TURKEY: IFX







BREAKING: Ankara defends , Russia has data on Turkey’s financial interest in oil from ISIS - PM Medvedev








UPDATE: Two sets of S-400 defense system on their way to Russian Khmeimim base in Syria










BREAKING: Russian missile cruiser off Latakia coast, ready to destroy dangerous air targets - Defense Minister