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 http://www.zerohedge.com/news/2016-01-13/japanese-stocks-plunge-china-bond-yields-hit-record-low-after-pboc-injects-25-billio …
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.
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 http://on.rt.com/71pt
MORE: Multiple casualties reported; attacks in 6 places blamed on Kurdish PKK militant group http://on.rt.com/71pt
#Greece: Let's not play around with #IMF's participation in the program http://bit.ly/1PshDz5 /via @SZ
The Intercept gives a scathing obituary for Al Jazeera America.
UN nuclear report paving way for Iran sanctions relief expected Friday: diplomatic source http://bit.ly/1OPtkna
Cyprus Hasn’t Met Conditions for Next Payout, Dijsselbloem Says
Neo-Nazis face trial over plot to bomb refugees http://bit.ly/1RMjsLH
More migrants will be deported after Cologne attacks, German justice minister says. http://cnn.it/22ZowSn
EU border agency Frontex 'needs more resources and more powers' http://f24.my/1PbAQ7y #TalkingEurope
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 …
EU official sees no decisions on Greek pension plan before February http://dlvr.it/DGLRF4
Both Crude Oil and Gasoline inventories increase !
Russia's losses due to EU sanctions and counter-sanctions estimated at €25 bln in 2015 http://tass.ru/en/economy/849336 …
If the Iran Nuclear is implemented on Monday , watch out for oil !
More #Brazil doom: Retail Sales, incl autos, showed a volume decline of -13.2% Y/Y.
Nigerian budget 'stolen'. They apparently don't have another copy. http://www.bbc.com/news/world-africa-35292464 … sterling stuff
Bottom keeps falling out of B.D.I.
Greece said to propose return trips for illegal migrants http://dlvr.it/DGH0HH
Got hands on @TimmermansEU letter to @ZiobroPL. Seeks meeting ASAP on media law, court issues. Story soon on @FastFT
Morning Note: 1. China's trade surplus swells. 2. Crude stays above $30. 3. A second day of gains for stocks ?
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 …
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 …
Protestors block trains over anti-refugee Sweden-Denmark border checks http://bit.ly/1OXcxka
EU official says that pension reform plan of #Greece 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 #Greece
Denmark passes controversial bill allowing the seizure of
#refugees' valuables http://www.politico.eu/article/denmark-to-seize-refugees-valuables/ … via @POLITICOEurope
DENMARK TO EXTEND GERMAN BORDER CHECKS BY 20 DAYS: TV
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 …
BREAKING Socialist Patxi López elected new Spanish congressional speaker http://cort.as/ay3i #ELPAÍSParlamento
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 https://www.thespainreport.com/articles/579-160113092546
Ballots for Speaker have been cast and are being counted.
#EU #China | *DIJSSELBLOEM SAYS CURRENT CHINESE MODEL ISN'T STABLE ...you want to worry about your own pal
#Turkey’s business world condemns ‘barbarous’ #Sultanahmet attack, global ‘terror flow’ http://bit.ly/1W6w8xC
Analyzing the Istanbul bombing: 'ISIL's vulgar display of power' http://aje.io/5lnl
Eu official: All institutions will participate in the review, IMF included #Greece
#UN reports 244 million migrants, including 20 million #refugees in 2015 report http://dw.com/p/1HcDl
GE PLANS TO CUT 6,500 JOBS IN EUROPE OVER THE NEXT TWO YEARS
#France | *GE'S EUROPE JOB CUTS TO INCLUDE 765 IN FRANCE, AFP SAYS ...but Macron said...
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 …
#Germany announces budget surplus of €12.1bn for 2015 higher than expected on strong tax revenues.
#Germany | BDI EXPECTS REAL GDP GROWTH OF ALMOST 2% IN 2016 BUT SEES INCREASED GEOPOLITICAL RISKS+LACK OF CLARITY.."almost" 2%..powerhouse!
#Italy | *ITALY GROSS NON-PERFORMING LOANS ROSE 11% IN NOV: BANK OF ITALY
#Russia | *RUSSIA RISKS BURNING RESERVES IN 1 YEAR, FINANCE MINISTER SAYS
Emerging Nations & Asia.....
#SouthKorea | DEC IMPORT PRICE INDEX M/M: -1.0% V -1.7% PRIOR; Y/Y: -11.9% V -15.6%
#SouthKorea | Dec Bank Lending to Households: KRW563T v KRW556.1T
#NZ | DEC QV HOUSE PRICES Y/Y: 14.2% V 15.0%
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 …
2008 all over again? #China turmoil spooks asian credit markets most since Sep. (Chart via BBG)
#Crude | *IRAN UNAWARE OF ANY CALL FOR OPEC EARLY MTG: ZANGANEH ON SHANA
#Japan | *BOJ BUYS CORPORATE BONDS AT NEGATIVE YIELD FOR 1ST TIME
#Brazil | *BRAZIL SAID TO RULE OUT FOREIGN BOND SALES IN 2016
#China stocks tumble to lowest levels since Aug rout as good trade data failed to soothe investors.
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 …
Investors re-risk their portfolios. Nikkei ends up 2.9% at 17715.63 while Yen weakens vs Dollar.
#Japan | *JAPAN MINISTRY WANTS DIRECT STOCK INVESTMENT BY GPIF: ASAHI
#China | Trade Balance: Imports from EU down every month in 2015 (-15.5% y/y in Dec)
#China | *SOME BANKS IN BEIJING, SHANGHAI RUN SHORT OF DOLLAR BILLS: 21ST
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. http://www.bloomberg.com/news/articles/2016-01-13/china-s-exports-unexpectedly-rebound-as-yuan-weakness-kicks-in …
Good Morning from Berlin. Asia stocks rise after China's better-than-expected Dec trade figures and yuan stabilized.