Saturday, November 7, 2015

Economic News , Data & Views ( November 7 , 2015 ) - Saturday Morning Highlights ( Surveying Global Turmoil After Friday's Rip-Roaring Non Farm Payroll & Employment Situation Report - Globally Bonds / Currencies / Commodities Just " Whipping Their Hair " ) ........ Around the horn for Europe ( Greece In Focus , Madcap / Madhouse EU Refugee " Rube Goldberg Construct , Italy In Focus h /t to Mish , Parliamentary Election For Croatia , Belgium item of interest , VW hi-jinks , Turkey And Sultan Erdogan Looming On The Horizon For The EU !

Commodities / Currencies / Bonds - Turmoil after US Employment Report ( N.F.P )

Credit Bubble Bulletin: Weekly Commentary: Irreversibly Broken and Dysfun...  

Another great Doug Noland Report

Hair definitely was whipping around Friday ! What a day......

Bloomberg's Commodity Index dropped to 84.9074 yesterday, the lowest since August 1999

Probably Raised Gold Hoard Again in October Adding 14 Tons.

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Saudis Aim to Get Ahead in Europe as Oil Competition Intensifies

Venezuela Seen as Major Beneficiary of Obama's Keystone XL Snub

It's Official: The Baltic Dry Index Has Crashed To Its Lowest November Level In History

Venezuela Said Negotiating $3b Currency Swap With China: Reuters

The Oil Industry Has Been Put on Notice

Ruble in tandem w/ oil lower after solid US jobs data.

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EM currencies TRY, ZAR, RUB, MXN and among G10 Euro and AUD are the top under-performers against the USD after NFP.

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Dollar Index nearing highest levels since 2003. Commodities nearing lowest levels since 2002. Tale of two cities.
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Global bond rout deepens after solid NFP. 10y US Treasury yields rise 11bps, 10y Bund yields 8 bps higher.

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These 2 charts tell the NFP story. Ahead of NFP markets priced chance of Dec Fed liftoff at 56%, now chance at 72%

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plunges after strong US jobs data as chance for a Dec liftoff has jumped from 56% to 70%.

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ArcelorMittal reported a $700 million loss for the third quarter today.
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Europe Broadly / Refugee Crisis ......

Germany would like to deport Afghan refugees swiftly - but would that violate UNHCR Refugee Convention of 1951 ? ..

Athens may mull opening Evros fence as part of EU deal

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"Spying on friends is unacceptable" - Angela Merkel October 24, 2013

Mish's Global Economic Trend Analysis: Capital Flight from Italy High and Rising via

ABC News - Croatia Holds General Vote Overshadowed by Migrant Crisis

Leader of Belgian governing N-VA calls in letter to , ECR, ALDE for border prot.+ safe refugee havens outside EU

Volkswagen’s emissions scandal: Fuel on the fire via

Finnish coalition ends reform row after PM's threat to quit

's coalition averts collapse with 11th hour agreement via
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‘Underwater drone with explosives’ spotted near Baltic Nord Stream pipeline

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France doesn't appear to be in a rush to get started w the EU refugee scheme

Germans flip-flop over crackdown on amid growing pressure

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| New call between Stathakis, Tsakalotos & Quadriga this pm in last effort to reach agreement on foreclosures before mtng

Attacks on refugees in Germany double in three months

758,000 aslyum seekers registered in DE in 2015. Berlin announces Syrians to face freeze on family reunification:

FAZ Exclusive: German gov't to only offer Syrian refugees 1 yr residency & freeze on family reunification:

Editor comment - note Zeit & Faz articles contradict each other , Faz from Friday ( Zeit today )

gov't says will continue to receive full asylum status. A slap for InteriorMin De Maizière

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

races to finish aid review as bank restructuring looms.

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

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Success of the EU refugee relocation scheme: 116 refugees relocated (of 160K) & now Sweden wants to move its refugees to other EU countries.

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

Merkel is not focused on a graceful exit—she's focused on rising to her biggest challenge

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S&P affirms junk rating for ; Outlk neg on the assumption that current policy settings will prevail after incumbent AKP won elections

Ankara concerned with slow EU accession process as Brussels focuses solely on refugee crisis

refuses to help Sweden tackle refugee influx
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