Wednesday, January 13, 2016

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 - OPEC Basket Less than 26 USD. )


Evening wrap......






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











Hong Kong Dollar De-Pegging Risk Spikes As Yuan Slides, China Stocks Drop To 2-Year Lows






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.








equity markets follow the US lower with the (-2.75%) underperforming
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CHINA TIGHTENS MONEY EXCHANGE CONTROL TO STEM OUTFLOW: MING PAO. many more such headlines coming







BREAKING: Deadly blast devastates Turkish police HQ in Kurdish region, in string of attacks

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MORE: Multiple casualties reported; attacks in 6 places blamed on Kurdish PKK militant group


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







Moscovici to : Let's not play around with 's participation in the program /via





The Intercept gives a scathing obituary for Al Jazeera America.








UN nuclear report paving way for Iran sanctions relief expected Friday: diplomatic source




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





Neo-Nazis face trial over plot to bomb refugees





More migrants will be deported after Cologne attacks, German justice minister says.
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EU border agency Frontex 'needs more resources and more powers'
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Germany has a €12bn budget surplus, which it will spend "to host and integrate refugees"





EU official sees no decisions on Greek pension plan before February
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Both Crude Oil and Gasoline inventories increase !





Tighter border checks leave migrants trapped in





Russia's losses due to EU sanctions and counter-sanctions estimated at €25 bln in 2015





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






More doom: Retail Sales, incl autos, showed a volume decline of -13.2% Y/Y.
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Nigerian budget 'stolen'. They apparently don't have another copy. sterling stuff







Bottom keeps falling out of B.D.I.







Greece said to propose return trips for illegal migrants
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Got hands on letter to . Seeks meeting ASAP on media law, court issues. Story soon on
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Morning Overview......








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

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Europe.....





anti-Semitic attacks spark debate over wearing skull caps
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This is new from ECB chief econ Praet in : oil price effect on inflation is neither "negligible nor temporary"









Protestors block trains over anti-refugee Sweden-Denmark border checks

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










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







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








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












Denmark passes controversial bill allowing the seizure of ' valuables via








DENMARK TO EXTEND GERMAN BORDER CHECKS BY 20 DAYS: TV









passes bill allowing authorities to seize refugees’ valuables (brings nasty history to mind,will EU react?)



















BREAKING Socialist Patxi López elected new Spanish congressional speaker
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130 for Patxi López (PSOE); 71 for Carolina Bescansa (Podemos); 149 blank ballots;









LIVE BLOG: Paxti López (PSOE) Doesn't Get Enough Votes In First Round Vote For Speaker










Ballots for Speaker have been cast and are being counted.







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









’s business world condemns ‘barbarous’ attack, global ‘terror flow’

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Analyzing the Istanbul bombing: 'ISIL's vulgar display of power'
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Eu official: All institutions will participate in the review, IMF included







reports 244 million migrants, including 20 million in 2015 report
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GE PLANS TO CUT 6,500 JOBS IN EUROPE OVER THE NEXT TWO YEARS







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

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

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








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

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| *RUSSIA TO FILE SUIT AGAINST UKRAINE THIS MONTH, SILUANOV SAYS








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

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Emerging Nations & Asia.....





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

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

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| DEC QV HOUSE PRICES Y/Y: 14.2% V 15.0%
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SG's Edwards: set to start another leg in the Ice Age, taking the S&P back below 666.
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2008 all over again? turmoil spooks asian credit markets most since Sep. (Chart via BBG)
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| *IRAN UNAWARE OF ANY CALL FOR OPEC EARLY MTG: ZANGANEH ON SHANA







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








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






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

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

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

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Late sell-off hits stocks. Shanghai Comp now less than 0.8% away from Aug low.

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

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








| Russian government testing economic stress scenarios if oil prices falls to $25/bl
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| Trade Balance: Imports from EU down every month in 2015 (-15.5% y/y in Dec)

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








winning offshore yuan battle, but may be losing the war
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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)







China trade data in CNY terms surprised to topside: Trade surplus swells as exports recover.
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Good Morning from Berlin. Asia stocks rise after China's better-than-expected Dec trade figures and yuan stabilized.
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