Thursday, December 17, 2015

Economic News , Data & Views ( December 17 , 2015 ) - Overview ( US Federal Reserve Bank interest rate hike campaign has begun and for now , markets approve ! Based on the reaction from the US / Asia overnight and Europe this morning - all is well ! ) Around Horn for Europe (Refugee / Migration items of the day , Brexit / UK Negotiation with the EU items of note in the news , Russia / Oil / Ruble items of note , EZ news of note - Germany Ifo index drops slightly , France needs to borrow a lot of euros ( 198 bn for 2016 ) , Denmark Central Bank considering hiking rates , Greece economic and political items of note , Euro weaker today ) ...... Asia In Focus - Overnight Highlights ( China , Japan , Singapore , Taiwan items of note )


Evening wrap......








IMF to stand trial for negligence >> Anyone guess what the bastard verdict will be? Go on!







EU leaders set June 30 deadline for new border force to slow influx of migrants


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EUCO Conclusions on refugee / migrant crisis.










"Effective answer" needed on EU migrants' access to welfare, Cameron told EU leaders according to .
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Rajoy suffer a concussion yesterday ?









Corruption claims could derail Mariano Rajoy's bid for 2nd term as Spain's PM
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Sweeden: A Record Number of Attacks on Refugee Centers.






That the IMF has finally confirmed sovereignty nature of debt at issue , is a big point here.









Poland, Hungary, Slovakia and Czech Republic jointly reject any British EU demand that is discriminatory or limits free movement - REU








So the BoD of the ESM on Monday will give the final final green light on the disbursement of the 1 billion.







Green light from EWG for the 1 billion disbursement- however Greece will have to deliver on 3 points that were not concluded till tomorrow.







Parallel program introduced by gov will be re-examined by Institutions next year. For the time being its postponed.





IMF head Lagarde's lawyer recommends appealing decision by French court to bring her to trial






Morning items......




Europe.....







government withdraws draft bill on "parallel programme" tabled in Parliament earlier this week, acc to local media.










"We're not pushing for a deal tonight, but we're pushing for real momentum," says as he walks into summit bldg.









Riots erupt as Dutch protest against refugee centre












Online Poll Puts U.K. Campaign to Leave EU Into The Lead











fell further to 24% in Q3 on seasonally increased employment
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Greek primary cash surplus notably widens by 1.9 bln to 4.48 bln by November


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Migrant crisis, Britain dominate final EU summit of a long difficult year. 's wrap


























Dutch PM Rutte under parliamentary scrutiny for deal with druglord









LIVE — PM Davutoğlu: Turkey and Germany to hold high-level cooperation meeting in Berlin on Jan. 22









One of GER's most prominent economists told : are a stroke of luck for German economy. Here's why:









EU sees little drop in migrants since deal: Document


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wraps up his annual ; if you missed the live session, watch it here:



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| *EU'S TUSK SAYS PARTS OF UK PROPOSAL ARE UNACCEPTABLE ..Technocratic monstrosity moaning because he might actually have to do work












While Putin is speaking at presser, Ruble keeps falling as Crude oil extends its decline after Fed rate hike


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Putin says 's economic crisis has peaked amid slump.

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*DJ EU Juncker: Open Minded on How to Solve 'Complicated Situation' on British Reform Demands ..."open minded" ...what a <<INSERT HERE>>













's Ifo index drops to 108.7, undershooting forecast of 109.0 BUT still points to GDP YOY growth of about 3%.


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| *DJ France to Examine Prospect for Syndicated 50-Year Bond in 2016












| *FRANCE'S AFT SEES STATE FINANCING NEED OF EU198.5B IN 2016 ..."need"










| *DANSKE BANK: DANISH RATE INCREASE HAS `MOVED CLOSER' ....someone's been very long Tuborg Julebryg last few days!










lowers Greek ELA ceiling to €75.8bn from €77.9bn, lowest level since Apr2015. (BBG)



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Investors re-risk after the Fed decision. 's benchmark index Dax trades 1.9% higher after open.


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| *DJ Volvo: South America Nov Truck Deliveries -63% Y/Y; Asia -9%; Europe +40%; N America -2% (& easy comps); Other Markets -37%









| GREECE NEEDS TO FULLY OWN BAILOUT: WEIDMANN TO NAFTEMPORIKI ...Yeah! What he said.









drops to $1.0854 as 2y Bund/US Treasury spread widens to 134bps on CenBank divergence after Fed rate hike.

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Asia.........







*VIETNAM CENTRAL BANK TO KEEP DONG, RATES STABLE THIS YR: HONG ...no point going long dong then










| *CHINA TO HOLD CENTRAL ECON. WORK MTG. DEC. 18: PEOPLE'S DAILY ...got to fix that GOALSEEK bug in the GDP excel spreadsheet









Good Morning from Berlin. ’s lift-off seems to have gone well so far, w/ Asia stock mkts rally on wonderful hike


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| *DAGONG CUTS SOVEREIGN CREDIT RATINGS OF JAPAN











| Offshore CNH weakest since March 2011....


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*TAIWAN CENTRAL BANK CUTS KEY INTEREST RATE TO 1.625%


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| NOV ELECTRONIC EXPORTS Y/Y: 0.7% v 5.2%e; NON-OIL DOMESTIC M/M: -3.8% v +0.4%e; Y/Y: -3.3% v +1.5%E


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| Nov Imports y/y: -10.2% v -7.3%e ...3rd straight month imports down 10%+...down every month in 2015


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| Nov Exports y/y: -3.3% v -1.6%e; largest decline since Dec 2012


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