Catharsis Ours: Economic News , Data & Views ( January 13 , 2016 ) Europe ( 1. Anti-Semitism Hits Marseille , France . 2. Refugee/ Economic Migration / Border Security Items . 3. Greece - Troika Talks Items. 4. EZ Data Splash. 5. Spanish Parliament Voting For Speaker Proceeding. 6. Russia- Ukraine Items Of Note. 7. Odds & Ends. ) Asia In Focus ( 1. China Improving Export/ Import Data Fails To Lift Stocks In China. 2. South Korea Trade Data & Bank Lending Data Released. 3. New Zealand House Price Data Slows Y/Y for Dec . 4. Iran Denies Knowledge Of Call For Early OPEC Meeting. 5. Japan - BOJ Buys Corporate Bonds At Negative Yield For The First Time . 6. Brazil Rules Out Foreign Bond Sales For 2016. 7. Commodity Crush Continues

Evening wrap......

2015 Local Gov't Debts outstanding 3.8 trln RMB, 2016 may +1 trln more...

‏@zerohedge

Hong Kong Dollar De-Pegging Risk Spikes As Yuan Slides, China Stocks Drop To 2-Year Lows http://www.zerohedge.com/news/2016-01-13/japanese-stocks-plunge-china-bond-yields-hit-record-low-after-pboc-injects-25-billio …

‏@HaidiLun

Big miss on Japan core machinery orders, -14.4% m/m in November (est -7.9%), first drop in 3 months. +1.2% y/y (est +6.3%). Volatile series.

‏@RANsquawk

#AsiaPac equity markets follow the US lower with the #Nikkei225 (-2.75%) underperforming 

‏@zerohedge

CHINA TIGHTENS MONEY EXCHANGE CONTROL TO STEM OUTFLOW: MING PAO. many more such headlines coming

‏@RT_com

BREAKING: Deadly blast devastates Turkish police HQ in Kurdish region, in string of attacks http://on.rt.com/71pt  

‏@RT_com

MORE: Multiple casualties reported; attacks in 6 places blamed on Kurdish PKK militant group http://on.rt.com/71pt  

‏@YanniKouts

Moscovici clearly warns #Greece that without #IMF on board CDU MPs would cause a major problem.

‏@YanniKouts

Moscovici to #Greece: Let's not play around with #IMF's participation in the program http://bit.ly/1PshDz5  /via @SZ

‏@fredwalton216

The Intercept gives a scathing obituary for Al Jazeera America. 

SoberLook.com @SoberLook

Al Jazeera America terminates all TV and digital operations http://interc.pt/1KdAfkO 

‏@DailyStarLeb

UN nuclear report paving way for Iran sanctions relief expected Friday: diplomatic source http://bit.ly/1OPtkna 

‏@zerohedge

Cyprus Hasn’t Met Conditions for Next Payout, Dijsselbloem Says

‏@TheLocalGermany

Neo-Nazis face trial over plot to bomb refugees http://bit.ly/1RMjsLH

‏@cnnbrk

More migrants will be deported after Cologne attacks, German justice minister says. http://cnn.it/22ZowSn  

‏@EuropeF24

EU border agency Frontex 'needs more resources and more powers' http://f24.my/1PbAQ7y  #TalkingEurope 

‏@pietercleppe

Germany has a €12bn budget surplus, which it will spend "to host and integrate refugees" http://www.faz.net/aktuell/wirtschaft/wirtschaftspolitik/wolfgang-schaeuble-bund-erzielt-12-milliarden-ueberschuss-14011683.html …

‏@ekathimerini

EU official sees no decisions on Greek pension plan before February http://dlvr.it/DGLRF4  

‏@fredwalton216

Both Crude Oil and Gasoline inventories increase ! 

zerohedge @zerohedge

CRUDE OIL INVENTORIES ROSE 234,000 BARRELS, EIA SAYS;
GASOLINE INVENTORIES ROSE 8.44 MLN BARRELS, EIA SAYS

‏@ekathimerini

Tighter border checks leave migrants trapped in #Greece http://www.ekathimerini.com/204995

‏@tassagency_en

Russia's losses due to EU sanctions and counter-sanctions estimated at €25 bln in 2015 http://tass.ru/en/economy/849336 …

‏@fredwalton216

If the Iran Nuclear is implemented on Monday  , watch out for oil ! 

EM Equity @EM_Equity

Iran Sanctions Seen Lifted by Monday as Nuclear Deal Implemented http://bloom.bg/1P0GwHY 

‏@Schuldensuehner

More #Brazil doom: Retail Sales, incl autos, showed a volume decline of -13.2% Y/Y. 

‏@RudawEnglish

#Istanbul bomber was #Saudi, not #Syrian
http://rudaw.net/NewsDetails.aspx?pageid=186338 … 

‏@BTabrum

Nigerian budget 'stolen'. They apparently don't have another copy. http://www.bbc.com/news/world-africa-35292464 … sterling stuff

‏@fredwalton216

Bottom keeps falling out of B.D.I. 

RANsquawk @RANsquawk

Baltic Dry index continuing to hit record lows, falling below 400 for the first time ever!!!

‏@ekathimerini

Greece said to propose return trips for illegal migrants http://dlvr.it/DGH0HH  

‏@SpiegelPeter

Got hands on @TimmermansEU letter to @ZiobroPL. Seeks meeting ASAP on media law, court issues. Story soon on @FastFT 

Morning Overview......

‏@FerroTV

Morning Note: 1. China's trade surplus swells. 2. Crude stays above $30. 3. A second day of gains for stocks ? 

Europe.....

‏@dwnews

#Marseille anti-Semitic attacks spark debate over wearing skull caps http://dw.com/p/1HcC8  #kippa 

‏@OpenEurope

European Commission to hold fire on Polish government’s controversial reforms http://openeurope.org.uk/daily-shakeup/sweeping-changes-proposed-to-german-immigration-and-asylum-law-in-post-cologne-crackdown/#section-4 …

‏@MehreenKhn

This is new from ECB chief econ Praet in @sz: oil price effect on inflation is neither "negligible nor temporary" https://www.ecb.europa.eu/press/key/date/2016/html/sp160113.de.html …

‏@VICEUK

Protestors block trains over anti-refugee Sweden-Denmark border checks http://bit.ly/1OXcxka  

‏@Efkouts

EU official says that pension reform plan of #Greece is an "ambitious proposal" and a "major step ahead"

‏@minefornothing

EURO-AREA NOV. INDUSTRIAL PRODUCTION DOWN 0.7% VS MONTH AGO ... but the recovery

‏@minefornothing

ECB'S LAUTENSCHLAEGER SAYS SOME BANKS ARE FAILING TO MEET OUR EXPECTATIONS IN TERMS OF THE MANAGEMENT OF LIQUIDITY RISK

‏@Elbarbie

Eu official: No major disbursements in the immediate future,we are not in frantic hurry one can proceed with a well prepared process #Greece

‏@daphnenews

Denmark passes controversial bill allowing the seizure of #refugees' valuables http://www.politico.eu/article/denmark-to-seize-refugees-valuables/ … via @POLITICOEurope

‏@minefornothing

DENMARK TO EXTEND GERMAN BORDER CHECKS BY 20 DAYS: TV

‏@SMerler 18

#Denmark passes bill allowing authorities to seize refugees’ valuables (brings nasty history to mind,will EU react?) http://www.politico.eu/article/denmark-to-seize-refugees-valuables/ …

‏@OpenEurope

Government clashes with SNP over potential June referendum http://openeurope.org.uk/daily-shakeup/sweeping-changes-proposed-to-german-immigration-and-asylum-law-in-post-cologne-crackdown/#section-2 …

‏@elpaisinenglish

BREAKING Socialist Patxi López elected new Spanish congressional speaker http://cort.as/ay3i  #ELPAÍSParlamento 

‏@thespainreport

for Patxi López (PSOE);
for Carolina Bescansa (Podemos);
blank ballots; 

The Spain Report @thespainreport

LIVE BLOG: Paxti López (PSOE) Doesn't Get Enough Votes In First Round Vote For Speaker https://www.thespainreport.com/articles/579-160113092546-opening-of-new-spanish-parliament#464 …

‏@thespainreport

LIVE BLOG: Paxti López (PSOE) Doesn't Get Enough Votes In First Round Vote For Speaker https://www.thespainreport.com/articles/579-160113092546

‏@thespainreport

Ballots for Speaker have been cast and are being counted.

‏@moved_average

#EU #China | *DIJSSELBLOEM SAYS CURRENT CHINESE MODEL ISN'T STABLE ...you want to worry about your own pal

‏@HDNER

#Turkey’s business world condemns ‘barbarous’ #Sultanahmet attack, global ‘terror flow’ http://bit.ly/1W6w8xC  

‏@AJEnglish

Analyzing the Istanbul bombing: 'ISIL's vulgar display of power' http://aje.io/5lnl  

‏@Elbarbie

Eu official: All institutions will participate in the review, IMF included #Greece

‏@dwnews

#UN reports 244 million migrants, including 20 million #refugees in 2015 report http://dw.com/p/1HcDl  

‏@minefornothing

GE PLANS TO CUT 6,500 JOBS IN EUROPE OVER THE NEXT TWO YEARS

‏@moved_average

#France | *GE'S EUROPE JOB CUTS TO INCLUDE 765 IN FRANCE, AFP SAYS ...but Macron said... 

‏@Telegraph

Why the Brexit referendum will be swung by the horrific events in Cologne http://www.telegraph.co.uk/news/politics/12095265/Why-the-Brexit-referendum-will-be-swung-by-the-horrific-events-in-Cologne.html … 

‏@Schuldensuehner

#Germany announces budget surplus of €12.1bn for 2015 higher than expected on strong tax revenues. 

‏@moved_average

#Germany | BDI EXPECTS REAL GDP GROWTH OF ALMOST 2% IN 2016 BUT SEES INCREASED GEOPOLITICAL RISKS+LACK OF CLARITY.."almost" 2%..powerhouse!

‏@moved_average

#Italy | *ITALY GROSS NON-PERFORMING LOANS ROSE 11% IN NOV: BANK OF ITALY 

‏@moved_average

#Russia #IMF #Ukraine | *RUSSIA TO FILE SUIT AGAINST UKRAINE THIS MONTH, SILUANOV SAYS

‏@moved_average

#Russia | *RUSSIA RISKS BURNING RESERVES IN 1 YEAR, FINANCE MINISTER SAYS 

Emerging Nations & Asia.....

‏@moved_average

#SouthKorea | DEC IMPORT PRICE INDEX M/M: -1.0% V -1.7% PRIOR; Y/Y: -11.9% V -15.6% 

‏@moved_average

#SouthKorea | Dec Bank Lending to Households: KRW563T v KRW556.1T 

‏@moved_average

#NZ | DEC QV HOUSE PRICES Y/Y: 14.2% V 15.0% 

‏@Schuldensuehner

SG's Edwards: #China set to start another leg in the Ice Age, taking the S&P back below 666. https://publication.sgresearch.com/en/1/0/149526/173967.html?sid=5a2aaadb35561774a4ad314e174dd5c3 … 

‏@Schuldensuehner

2008 all over again? #China turmoil spooks asian credit markets most since Sep. (Chart via BBG) 

‏@moved_average

#Crude | *IRAN UNAWARE OF ANY CALL FOR OPEC EARLY MTG: ZANGANEH ON SHANA

‏@moved_average

#Japan | *BOJ BUYS CORPORATE BONDS AT NEGATIVE YIELD FOR 1ST TIME

‏@moved_average

#Brazil | *BRAZIL SAID TO RULE OUT FOREIGN BOND SALES IN 2016

‏@moved_average

#Crude #OPEC | OPEC Daily basket <$26/bl ... 

‏@Schuldensuehner

#China stocks tumble to lowest levels since Aug rout as good trade data failed to soothe investors. 

‏@moved_average

#China | Imports from #EU down EVERY month in 2015 (-15.5% y/y in Dec) 

‏@Schuldensuehner

Late sell-off hits #China stocks. Shanghai Comp now less than 0.8% away from Aug low. https://next.ft.com/content/0aefa52a-aece-3c5b-8569-59dd9f84e7e1 … 

‏@Schuldensuehner

Investors re-risk their portfolios. Nikkei ends up 2.9% at 17715.63 while Yen weakens vs Dollar. 

‏@moved_average

#Japan | *JAPAN MINISTRY WANTS DIRECT STOCK INVESTMENT BY GPIF: ASAHI

‏@moved_average

#Russia #Crude | Russian government testing economic stress scenarios if oil prices falls to $25/bl 

‏@moved_average

#China | Trade Balance: Imports from EU down every month in 2015 (-15.5% y/y in Dec) 

‏@moved_average 5

#China | *SOME BANKS IN BEIJING, SHANGHAI RUN SHORT OF DOLLAR BILLS: 21ST

‏@Schuldensuehner

#China winning offshore yuan battle, but may be losing the war http://reut.rs/1N6sL2O  

‏@Schuldensuehner

Citi: 2015 marks worst yr for China’s trades since GFC. Exports fell 2.8% in USD terms, imports -14.1%, vs 2009 (-16% exports, -11% imports)

‏@Schuldensuehner

China trade data in CNY terms surprised to topside: Trade surplus swells as exports recover. http://www.bloomberg.com/news/articles/2016-01-13/china-s-exports-unexpectedly-rebound-as-yuan-weakness-kicks-in … 

‏@Schuldensuehner

Good Morning from Berlin. Asia stocks rise after China's better-than-expected Dec trade figures and yuan stabilized. 

Catharsis Ours

Wednesday, January 13, 2016

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