Overview.........
Morning Note: 1. Rio says rivals hanging on by fingernails. 2. Junk bonds look like... Junk. 3. FOMC meeting begins
Europe......
3,355 Refugees Arrive at Piraeus Port on Tuesday http://dlvr.it/D1F5fQ #Greece
Former Athens Airport to Become Migrant Hospitality Center http://dlvr.it/D1F3Cv #
Greece confirms €1.2bn privatisation of 14 regional airports http://openeurope.org.uk/daily-shakeup/italy-backs-uk-on-need-for-different-levels-of-integration-within-the-eu/#section-7 …
Merkel receives strong backing for her refugee policy at CDU party conference http://openeurope.org.uk/daily-shakeup/italy-backs-uk-on-need-for-different-levels-of-integration-within-the-eu/#section-5 …
#ECB excess liquidity rises to highest in nearly 3yrs as banks stash high amount of ECB liquidity in ECB coffers.
Poland criticises European Commission’s plan for beefed-up border agency http://openeurope.org.uk/daily-shakeup/italy-backs-uk-on-need-for-different-levels-of-integration-within-the-eu/#section-4 …
New EU referendum polls put ‘Remain’ and ‘Leave’ neck-and-neck http://openeurope.org.uk/daily-shakeup/italy-backs-uk-on-need-for-different-levels-of-integration-within-the-eu/#section-2 …
Podemos says it wants to renegotiate the terms of Spain's EU bank bailout --BBG
#UK | OCT ONS HOUSE PRICE Y/Y: +7.0% V 6.1%
Italy backs UK on need for different levels of integration within the EU http://openeurope.org.uk/daily-shakeup/italy-backs-uk-on-need-for-different-levels-of-integration-within-the-eu/ …
Denmark to introduce border controls on 4 January as soon as Sweden formally introduces ID checks on border bridge http://www.euractiv.com/sections/justice-home-affairs/denmark-prepares-introduce-border-controls-320437 …
And here are the main points of the EUCO draft on immigration http://www.kathimerini.gr/842329
'Britain’s Leader in Bind of Own Making' ~@Hugodixon's piece on Cameron's miscalculations ovr negotiations w the #EU http://nyti.ms/1lXQlsF
EU Foreign ministers give a lukewarm reception to EU Commission plans for a new EU border and coast guard force https://euobserver.com/migration/131513 …
Visa-free travel for Ukranians on halt https://euobserver.com/foreign/131505
Cost Arab Spring
$461 billion infrastructure damage
$289 billion GDP loss
$48billion cost of refugees
&endless tears
Migration min #Mouzalas is trying to convince mayors of south #Athens subs to accept a refugee center in the city's old #Ellinikon airport
#Germany plans to borrow 13% more in 2016 despite balanced budget. http://reut.rs/1m22TiW
#Italy | GEN GOVT DEBT RISES TO EU2.21 TRILLION IN OCT.
You can read @Elbarbie interview about Greek bailout program with Euro Working Group head Thomas Wieser here http://www.ekathimerini.com/204296 #Greece
#Greece 11-mon budget prim surplus at €4.35bln, €1.7bln above target. Budget deficit at €1.24bln, €1.77bln better than target (MoF) #economy
Markets getting nervous on #Russia as oil price continues to drop. Russia 5y default probability jumps to almost 20%
Since #ECB's Dec meeting, 5Y5Y #Euro inflation swaps have plunged by 15bps on restrengthening of Euro. (via Scotia)
#Italy | *BOI URGES SMALL LENDERS TO RAISE CAPITAL REQUIREMENTS: CORRIERE
Asia / Emerging Nations ....
South Africa gets third finance minister within a week http://dw.com/p/1HMmB #PravinGordhan
#China | *CHINA BIG FOUR BANKS END-NOV. TOTAL YUAN LOANS 35.8 TLN YUAN
#Indonesia |Imports Y/Y: -18.0% v -20.3%e; Exports Y/Y: -17.6% v -11.4%e
#Australia | Q3 HOUSE PRICE INDEX Q/Q: 2.0% V 2.0%E; Y/Y: 10.7% (6-quarter high) V 10.2%E
Investors de-risk ahead of historic Fed decision. Nikkei ends down 1.7% at 18565.90 while Yen strengthens vs Dollar.
#China Yuan declines for 8th day in longest losing streak since June. http://bloom.bg/1QpJp4I
Good Morning from Berlin. Asia mkts in liftoff-limbo as investors in uncharted waters ahead of historic Fed meeting.
Acc to calculations of SLJ, #China Yuan is significantly over-valued, especially against some high-yield currencies.
OPEC History Shows that #oil price could drop to $26/bbl. http://bloom.bg/221RBfo
#Oil sub-$40/bbl takes gloss off #Paris climate deal. http://www.breakingviews.com/21229101.article?h=7bc7564f9a5f49b4b85545813740e45d&s=2 … #cop21
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