Friday, November 6, 2015

Economic News , Data & Views ( November 6 , 2015 ) - US Markets will be driven by Non Farm Payroll and Employment Situation Data at 8:30am .......... Europe Updates ( EG planned for Friday evening to discuss Greece implementation of milestones postponed / Greece Banks and Bank Recap updates , ECB/ QE items , Data from Europe released today ( UK / Spain / Germany / France / Austria / ) , Additional news of note from Europe this morning ...... Asia Updates ( Russia exports of crude to japan , Taiwan and China Leaders meet , Data and market moving news related to china , Data and market moving news related to Japan news , India in focus !


Evening Wrap......







EU awards millions in emergency funds to help Slovenia and Croatia handle migrant influx
















Total exposure -as high as 38 billion ? Wow...











Communists say "conditions are met for the formation of a govt based on the initiative of the Socialists"







Huge challenge for President Cavaco Silva now. It will be very difficult for him to deny handing mandate to Socialist leader Costa








Greece Not Likely to Get Bailout Tranche on Monday’s Eurogroup







€2 bn bailout tranche at risk and why Greece’s PM Tsipras should not talk with Juncker about…







Black box analysis reveals causation as explosion. Now we need to figure out who did the deed ?





FAZ : German Int Min briefing Syrian refugees only get 'subsidiarity protection' henceforth (Though will that impact numbers?)






Merkel has been Tommy hammered by refugee crisis bunglings..













Sweden officially requests Commission to relocate refugees in SWE under EU relocation quotas (as we reported y-day):









'Debt for refugees,' Juncker lobbying EU states to take refugees for looser budget rules - reports FP
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Overview.......





NFP Results ......








271k Vs est 185k. Unemployment 5% Vs est 5%. Avg earnings 0.4% Vs est 0.2%







2-Yr US Yield jumps above 0.9%, highest since May2010 after solid US jobs data as probability for Dec liftoff rises.


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US Guesses: SocGen 220k JP AM 219k Citi 200k Wells Fargo: 190k GS 190k Consensus 185k UBS 180k Barclays Cap 175k HSBC 175k MS 165k








Morning Note: 1. Some more ugly German data. 2. Carney says prepare for 2016 hike. 3. est 185k.

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Good morning from Berlin. Asia stocks tread water as markets await Fed policy clues from important US jobs data.


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Europe.......





Euroworking group planned for tonight to discuss implementation of milestones will no longer take place. Reschedule when more clarity







Greek trade deficit falls by markedly accelerating pace of 24.2 pct in Sept
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Alpha amends voluntary bond tender offer terms (LME) cancelling the cash consideration option.





QE infinity? 's Praet: Asset purchases to run until sustained adjustment in inflation path.

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New report warns UK would lose access preferential market access to 51 states if it were to leave the EU








Sept UK Industrial Production -0.2% Vs est -0.1%. Manufacturing Production +0.8% Vs est +0.6%

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Lidington promises more details on EU reform in letter but accepts treaty change won’t be ratified before referendum






Ruble keeps falling despite small rebound of oil price.


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bank shares plummeted 75-98% since 1st recap (Q2 2013) & 75-97% since 2st (Q2 2014).
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Farewell to Maastricht criteria: Costs for refugees a welcomed excuse to loosen debt limits.


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| Left Bloc's Political Committee approves agreemnt w Socialists, w focus 'on employment, wages, pensions'










Russia ready to supply Japan with as much as it needs
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Ukrainian parliament coalition risks collapsing as another party may join opposition









Germany has taken in 760,000 asylum seekers in 2105; 1/3 of all arrivals coming from Syria


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| Oct Wholesale Price Index M/M: -0.8% v -0.4% prior; Y/Y: -4.1% v -4.3%

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| Sept House transactions Y/Y: 13.8% v 24.2% ...context..

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| Industrial Production WDA ...

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| Sept YTD Budget Balance: -€74.5B v -€89.7B

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| *STUBB: HOPE CENTER PARTY WON'T FORCE HIS PARTY TO QUIT GOVT







German Sep industrial output falls unexpectedly. Doesn't bode well for 's Q3 GDP.

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| GERMANY SEPT INDUSTRIAL PRODUCTION M/M: -1.1% V 0.5%E; Y/Y: 0.2% V 1.3%E

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| *VW'S PORSCHE UNIT REJECTS MEDIA REPORT ON MANIPULATION SOFTWARE







*MAERSK CEO: CONTAINER FREIGHT RATES FELL TO HISTORIC LOW IN 3Q








Asia.....









Russian crude exports to Japan increase despite weaker trade – Rosneft CEO

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Clash of cultures as democratic Taiwan meets autocratic China

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*BNP PARIBAS SAID TO SHUT DOWN HONG KONG DARK POOL BUSINESS:RTRS







| *SHIMAO PROPERTY JAN.-OCT. CONTRACT SALES DROP 6% ON YR









CHINA SECURITIES REGULATOR SAYS TO RESUME IPOS








ends the week a very respectable 6.1% higher...have we gone back in time to when everything was rosy in China?







| Someone going to tell CSI300 futures that China is in a bull market?! "Volume"

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*JAPAN MULLS EARLY CORP TAX CUT FOR RAISING WAGES, CAPEX:REUTERS








| Weekly Shanghai copper Inventories: 197.8K v 180.2K

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The was unveiled this week. Here was our April 2015 on Chinese tourism





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China house prices via Nomura today. Has the mini-surge peaked?
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De-Dollarization: Global Yuanization Is One Step Closer, Thanks To London
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| China banks' NPL topped 2% in some provinces - bad loans from Zhejiang, Guangdong and Shandong provinces totaled CNY440B







Nikkei closes up 0.8% at 19265.60 and Yen weakens vs Dollar ahead of all important US NFP data.
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sets mid point at 6.3459 v 6.3381 prior setting (Weakest setting since Oct 30th)









| Risk of Recession Seen by Economists in Data Torrent - Bloomberg -








End-Sept. Bad Loans Top 100b Yuan in Some Provinces - China Business News -









| RBI: Don't have a lot of room to cut rates - CNBC -








 
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