Mixing sad news of the passage of David Bowie Sunday night from cancer , with this evening wrap.....Music for your listening pleasure while reading. Not necessarily a comment on tweets , unless it is........
Evening wrap......
Refugee situation ......
Will Germany's Refugee Crisis Take Down Merkel's Government? http://goo.gl/fb/udREZH
How Europe's refugee crisis is challenging the Schengen Agreement: http://www.lowyinterpreter.org/post/2016/01/12/Flood-of-human-misery-overwhelms-European-ideal-of-passport-free-travel.aspx …
Refugee crisis: Germany reinstates controls at Austrian border http://fb.me/7IHe9i137
Merkel: Europe vulnerable in refugee crisis: German Chancellor Angela Merkel said Europe was ''vulnerable'' in... http://binged.it/1RyexQp
Germany sends migrants back to Austria: Germany has been sending back an increasing number of migrants back to... http://bbc.in/1mRBbqf
Merkel says Europe is 'vulnerable' in #refugeecrisis because it is not yet in control of the situation http://tmsnrt.rs/1IZ5bdo #Germany
Actually , Poland , Slovakia , Hungary and the Czech Republic are saying " We told you so " , to Germany."
Our most read last week: Cover-up claim over NYE mass sexual assaults http://www.thelocal.de/20160104/refugees-blamed-for-mass-sexual-assault-in-cologne …
German Biker Gangs, "Hooligans" Attack Foreigners In Migrant "Manhunts" http://www.zerohedge.com/news/2016-01-11/german-biker-gangs-hooligans-attack-foreigners-migrant-manhunts …
Anything big enough to persuade 1) Syrians to stay put and wait; 2) Turkey/Leb/Jor to make life better for those not resettled. @fyderek
China melee......
"It is pure imagination that the Chinese yuan will act like a wild horse without any rein" Han Jun, top gov eco guy
Shanghai Comp fails to hold onto opening gains, briefly dropping below the 3000 level
PBoC refrains from any significant devaluation of the $CNY for the 3rd consecutive day
China Holds Yuan Fix Flat For 3rd Day As PBOC Proclaims Devaluation Chatter Is "Ridiculous & Humorous" http://www.zerohedge.com/news/2016-01-11/china-holds-yuan-fix-flat-3rd-day-pboc-proclaims-devaluation-chatter-ridiculous-humo …
PBoC Fixes Yuan Reference Rate At 6.5628 (prev 6.5626)
The Cost Of China's "Neutron Bomb" Exploding: $7.7 Trillion And Higher http://www.zerohedge.com/news/2016-01-11/cost-chinas-neutron-bomb-exploding-77-trillion-and-higher …
What happens when you have 21% NPL with virtually unlimited rehypothecation of Chinese collateral? Can Loss Given Default be > 100%?
Fitch estimates that 21% of China's loans are non-performing http://www.zerohedge.com/news/2015-11-02/one-analyst-says-chinas-banking-sector-sitting-3-trillion-neutron-bomb …
NANJING STEEL SEEKS UP TO 4.53B YUAN IN PRIVATE PLACEMENT. From the Dallas Fed or the PBOC?
CHINA ASSOCIATION SAYS ANOTHER 4 FUND COS. CAN’T BE CONTACTED
China's Hard Landing To Trigger Meltdown In India: "We Will See Another Crisis" http://www.zerohedge.com/news/2016-01-11/chinas-hard-landing-trigger-meltdown-india-we-will-see-another-crisis …
Yuantervention Extreme - Offshore Yuan Explodes 850 Pips Higher, Biggest Jump Ever http://www.zerohedge.com/news/2016-01-11/yuantervention-extreme-offshore-yuan-explodes-850-pips-higher-biggest-jump-ever …
China Warns No "V-Shaped" Recovery Is Coming; Says "There Will Be No Strong Economic Stimulus" http://www.zerohedge.com/news/2016-01-11/china-warns-no-v-shaped-recovery-coming-says-there-will-be-no-strong-economic-stimul …
#China's cabinet to have greater financial supervision role. http://reut.rs/1P3x9AW
The next turmoil in HK after CNH squeeze, HKD HIBOR 3-mth stays at 0.39%, but USD LIBOR is shooting higher to 0.62%. Capital outflow .
Big 3 banks are not just squeezing CNH higher for PBoC in HK, they are really remitting the RMB back to mainland to CNY.
CNH +800 pips, last seen Sep.10 and CNH rally...
No wonder HK CNH HIBOR broke record today!
CNH rally >550 pips from 6.6825 to 6.6250, US index futures rally...
LME copper is falling to another new 6-1/2 years low.
Meet 2016's Worst Economic Performers. Thanks to #Syriza-led govt, #Greece places at top 3! http://www.bloomberg.com/news/articles/2016-01-11/meet-2016-s-worst-economic-performers-flirting-with-disaster …
Government tries to tweak pension proposal http://dlvr.it/DFPK0s
SYRIZA Govt Vexed by New Democracy Leadership Election Outcome http://dlvr.it/DFM10f #Greece
‘Lagarde List’ Scandal Takes a New Twist http://dlvr.it/DFMX6y #Greece
From Espresso: Greece's finance minister faces a tough sell to try reduce his country's debt http://econ.st/1P0PPBm
2016 another tough year for #Greece. At center overhaul of pension system w/ small majority. http://stratfor.us4.list-manage2.com/track/click?u=74786417f9554984d314d06bd&id=0fb7b27ed4&e=0b5821ec47 …
Macedonia builds 10ft razor fence along border with Greece ahead of spring migrant influx - http://bit.ly/1K6kYSD
Oil price turmoil weighs heavy on African, Gulf Eurobonds https://lnkd.in/dW9bTrP
U.S. crude #oil prices approach 20% plunge since start of year http://www.reuters.com/article/idUSKCN0UQ02220160112
In light of low #oil prices and domestic consumption trends, #Saudi Arabia is dialing back energy subsidies http://energyfuse.org/saudi-arabia-reins
WTI sports a thirty handle - $30.91 L.O.D , so far.
If this is accurate , all the wheels are falling off for global trade in real time.
MS: With WTI approaching $30, this oil price downturn now deeper and/or longer than any other downturn since 1970
Crisis in Middle East used to mean oil price spike. Now no end of ME crises can't stop oil price from falling. Brave new world.
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