Thursday, December 10, 2015

Economic News , Data & Views ( December 10 , 2015 ) .... Europe In Focus - Highlights ( Refugee crisis items of note ......Greece Data - Unemployment / CPI and Industrial Production all show weakening trends / Pension reform in trouble in Parliament w/o support of Opposition Parties ....UK trade data - goods deficit rising for both EU and Non- EU / Cumbria flooding continues ..... Italy Bank data - deposits and bad loans both increase ....... Spain Data / News - Housing data & Banking system blurb ......Sweden CPI falls materially for Nov .....France - Industrial Production shows material increase for Oct / CPI for Nov worsens though ...... Finland Industrial Production weakens for Oct ) ....... Asia & Emerging Nation ( Global de-risking continues. Asia mkts slip as weak oil feeds growth worries, - Items of note from China , Japan , Philippines & South Africa )



Europe.......





Evening Wrap.....







Airport deal signing is put off till next week

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Talks with creditors stumble on sell-off fund
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's FinMin "no time to chase rich tax-evaders." Yet, they arrest grannies 4 selling veggies without permission






A petition calling for Donald Trump to be barred from entering the UK has become the most popular ever campaign on the Government's website.







Petition to ban Trump from UK hits 400,000








Mersch Says ECB Leak Led to `Flights of Fancy' by Investors via






Morning Items.......










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| Sept Unemployment Rate: 24.6% v 24.5%e

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Nov CPI -0.7% (YoY) vs -0.5% exp, -0.7% pr.
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*GREEK OCT. INDUSTRIAL PRODUCTION FALLS 1.9% VS YEAR AGO









The "party" is about to begin. As we've been warning for quite a while now.








EU suggests Moscow cut Kiev 'good friend' debt rate

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UK October trade data, goods deficit with EU and Non-EU rising


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'Still difficulties' in climate talks, especially finance: Hollande











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EURCHF dipped to a low of 1.0800 immediately after SNB decision not to cut rates, but is now trading pre-SNB levels.


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| *SILUANOV: RUSSIAN 11-MO. CAPITAL OUTFLOW WAS $53B









| BANK DEPOSITS FROM PRIVATE SECTOR ROSE 5.3% Y/Y IN OCT.

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| BANK BAD LOANS ROSE 10.9% Y/Y IN OCT., BANK OF ITALY SAYS ...fresh meat for Fortress!










| *SPANISH BANKING SYSTEM IS SOLVENT, BANK OF SPAIN'S LINDE SAYS ...they paid back that €100B yet?










| NOV CPI M/M: -0.2% V 0.0%E; Y/Y: 0.1% V 0.2%E ...gonna need moar negativer rates over here people!


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2 hours ago

| Q3 INE House Price Index Q/Q: 0.7% v 4.2% prior; Y/Y: 4.5% v 4.0% ...33% below peak...

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| OCT INDUSTRIAL PRODUCTION M/M: 0.5% V 0.0%E; Y/Y: 3.6% V 2.5%E

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| NOV CPI M/M: -0.2% V 0.0%E; Y/Y: 0.0% V 0.2%E

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| Oct Industrial Production Y/Y: % -0.8 v 1.3% prior

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An inside look at Angela Merkel’s migrant conundrum.


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Asia & Emerging Nations.........










Carnage in South African bond market following ousting of market friendly FinMin Nene. Yields jump 100bps (via Citi)
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Good morning from Berlin. Global de-risking continues. Asia mkts slip as weak oil feeds growth worries, euro bullish
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South Africa Rand rumbled by sacking of FinMin, hitting fresh life-time low vs Dollar.

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| *S&P: DEBT-SERVICING AMONG CHINESE ISSUERS IS FAIRLY WEAK









| *CHINA LONGYUAN DROPS 5.3% IN HONG KONG, FALLING FOR 4TH DAY ...well, if you are long yuan ...









| *SOUTH AFRICA TWO-YEAR INTEREST-RATE SWAPS CLIMB TO 6-YR HIGH

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| NOV PPI M/M: -0.1% V -0.3%E; Y/Y: -3.6% V -3.8%E

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| Dep chief secs regulator CSRC, Yao Gang, has been dismissed amid allegations of "severe disciplinary violations" - Shanghai Daily












's Nikkei ends down 1.3% at 19046.55 while Yen stops strengthening.


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| Oct Exports: $4.6 v $4.4B prior; Y/Y: -10.8% v -3.3%e

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| always good for a laugh on employment day ...never change !

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This was northern China last night. Dark red means smog is so toxic that you shouldn't venture outside.




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