Friday, December 18, 2015

Economic News , Data & Views ( December 18 , 2015 ) - Overview - H/T Jon Ferro ( 1. BoJ wants to buy even more ETFs. 2. Ugly China beige book. 3. WTI sinks below $35) ....... Europe highlights ( Cameron's meaningless negotiation attempts with EU , Refugee items , Ukraine defaults on 3bn Russia bond - didn't wait until Sunday's due date , NIRP items , Euro in focus , Spain's Election items , Oil in focus - 2016 forecasts falling fast ) ....... Asia and Emerging Nations ( Japan , China , Brazil , Venezuela and Russia in focus today )


Evening wrap.....














Ministry starts confiscating money from debtor accounts
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Nugget of secret Norwegian report , which gives credence to prior ISIS - Turkey links regarding oil trade.






Here's the EU summit full communique - migration, terrorism, UK, EMU, Syria, Libya etc





Argentina stock exchange plunges 6.28 percent - AFP






WTI afternoon swoon drove price down to $34.29 before support at $34.20 held . For now.










Weidmann: Greek debt relief is not urgent
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Oil drops to 6y low as rising Rig count seen adding to glut. Crude stockpiles highest for this time of yr since 1930


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Previously drillers waited for a price rebound to boost production. Now, they just boost production.







The payback: why Kiev will be forced to pay Russia what it owes


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EU ambassadors has taken the 1st step to extend economic sanctions on . the decision should be finalized at Monday noon.









Poland’s new government raided NATO counter-intelligence offices in the middle of the night






Nice overview on the looming Election...







German Spy Agency BND allegedly cooperating with Syrian Secret Police , sharing Intel on extremist jihadists.








Ukraine halts $3bn Russia debt repayment [In Nov, Russian energy supplier Gazprom halted gas supplies to Ukraine]








Morning items.....







Overview.......






Morning Note: 1. BoJ wants to buy even more ETFs. 2. Ugly China beige book. 3. WTI sinks below $35
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Europe......











And says there are "high risks" that prices may have to drop to $20 a barrel to force production to shut down








Russian Market RTS -3.19% Crude 34.49 Ukraine default













Oil heading towards $30














Merkel optimistic Turkey will cut migrant flows to Europe via














French President Hollande signals readiness for compromise "to take into account UK specificity"



























DEFAULTS ON $3 BLN BOND TO - BBG










Ukraine says it can’t repay debt to Russia

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BREAKING: Number of refugees entering Europe for 2015 to exceed a million next week, according to International Organisation for Migration












€41b, 22% of GDP, in banks is 's biggest single investment. Currently is worth €2.3b
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Belgian PM: UK talks were 'step in right direction'









has now discovered the unintended consequences of negative interest rates.

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's 2y govt bond yields drop to -0.357%, lowest since meeting on Dec3.

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A random walk down in the . Common currency weakens w/ no good reason to explain.


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Spain will go to polls this Sun to elect new govt. Markets look relaxed as market friendly parties leading the polls

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JPMorgan cuts 1Q16 price forecasts significantly: Brent to $35/bbl from $48/bbl, WTI to $33.50/bbl from $49/bbl


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Fed euphoria fades: 's Dax trades 0.7% lower after open.

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Renzi urged European socialists to unite against German power ~ source EU Socialists against SPD? Huh.. Never!








Asia and Emerging Nations.........









's President avoids impeachment - for now

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China Beige Book makes for grim reading. Is done in NYC but is also 2100 Ch company survey. So there.









- China Beige Book: never been worse - MNI China Business Indicator: 5.6% rebound in December from 49.9 to 52.7 Ok then







Nikkei ends down 1.9% at 18986.80 and Yen strengthens despite BoJ announcing plans to increase ETF purchases.

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Bank of Japan's $2.5bn ETF boost seen having little impact on stocks. Nikkei returned to neg

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Good morning. Asia stocks took their cue from Wall St & slipped. Nikkei returned to neg despite BoJ stimulus expan.

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Venezuela Vs Reality 




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Downgrade Points To Continued Brazil Underperformance 



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China Just Ended the Dollar Peg (…For The Most Part) 

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Meet The Press: Vladimir Putin’s Annual News 



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The Fed Hikes Rates — What Next For Emerging 


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