Tuesday, December 15, 2015

Economic News , Data & Views ( December 15 , 2015 ) ...... Europe In Focus ( Greece Political / Economic New , Refugee / Economic Migration News . Data Splash From Around EZ , ECB Related Items , Brexit / UK- EU Negotiation News , Ukraine / Russia News ) ...... Asia In Focus (mkts in liftoff-limbo as investors in uncharted waters ahead of historic Fed meeting. Additional News & Data From China , Indonesia, Japan , South Africa & Australia )


Overview.........




Morning Note: 1. Rio says rivals hanging on by fingernails. 2. Junk bonds look like... Junk. 3. FOMC meeting begins




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Europe......






3,355 Refugees Arrive at Piraeus Port on Tuesday







Former Athens Airport to Become Migrant Hospitality Center




























to receive €80m from EU to help house refugees, writes











Ambassador to Turkey Sets 3 Conditions to Overcome Tension Between Countries









excess liquidity rises to highest in nearly 3yrs as banks stash high amount of ECB liquidity in ECB coffers.

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Podemos says it wants to renegotiate the terms of Spain's EU bank bailout --BBG








| OCT ONS HOUSE PRICE Y/Y: +7.0% V 6.1%

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Denmark to introduce border controls on 4 January as soon as Sweden formally introduces ID checks on border bridge








And here are the main points of the EUCO draft on immigration











'Britain’s Leader in Bind of Own Making' ~'s piece on Cameron's miscalculations ovr negotiations w the




















EU Foreign ministers give a lukewarm reception to EU Commission plans for a new EU border and coast guard force










Visa-free travel for Ukranians on halt










Cost Arab Spring
$461 billion infrastructure damage $289 billion GDP loss $48billion cost of refugees &endless tears
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Migration min is trying to convince mayors of south subs to accept a refugee center in the city's old airport










plans to borrow 13% more in 2016 despite balanced budget.

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| GEN GOVT DEBT RISES TO EU2.21 TRILLION IN OCT.

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You can read interview about Greek bailout program with Euro Working Group head Thomas Wieser here







11-mon budget prim surplus at €4.35bln, €1.7bln above target. Budget deficit at €1.24bln, €1.77bln better than target (MoF)







Markets getting nervous on as oil price continues to drop. Russia 5y default probability jumps to almost 20%

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Since 's Dec meeting, 5Y5Y inflation swaps have plunged by 15bps on restrengthening of Euro. (via Scotia)

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| *BOI URGES SMALL LENDERS TO RAISE CAPITAL REQUIREMENTS: CORRIERE










Asia / Emerging Nations ....







Watch: Weakening Chinese shifts away from dollar peg
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South Africa gets third finance minister within a week


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| *CHINA BIG FOUR BANKS END-NOV. TOTAL YUAN LOANS 35.8 TLN YUAN

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|Imports Y/Y: -18.0% v -20.3%e; Exports Y/Y: -17.6% v -11.4%e

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| Q3 HOUSE PRICE INDEX Q/Q: 2.0% V 2.0%E; Y/Y: 10.7% (6-quarter high) V 10.2%E

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Investors de-risk ahead of historic Fed decision. Nikkei ends down 1.7% at 18565.90 while Yen strengthens vs Dollar.

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Yuan declines for 8th day in longest losing streak since June.

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Good Morning from Berlin. Asia mkts in liftoff-limbo as investors in uncharted waters ahead of historic Fed meeting.


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Acc to calculations of SLJ, Yuan is significantly over-valued, especially against some high-yield currencies.

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OPEC History Shows that price could drop to $26/bbl.
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