Catharsis Ours: Economic News, Data & Views ( January 9 , 2016 ) Asia / Emerging Nations Overview ( 1. Oil Price Impacts on Emerging Economies. 2. Brazil Economic Travails In Focus . 3. China Items Of Note - Roller Coaster First Week for Chinese Equities. 4. South African Rand Slam - Latest New Low Against Dollar After US Data On Friday. 5. Currencies Wrap For The Week . 6. Commodities Wrap For The Week . 6. Global Equities Wrap- Latest Turmoil Takes All Indexes Except Russia and Ireland Below 200 day M.A . 7. Puerto Rico Items Of Note. )

Asia/ Emerging Nations.....

The end of the #oil age: New oil price regime likely to continue to create fin stresses in Middle East. (via BofAML) 

‏@openDemocracy

Understanding the fiscal crisis in #Brazil : a tale of two inflations http://bit.ly/1K2ospb  

‏@elpaisinenglish

How Brazil's economic crisis is affecting plans for the Rio Olympic Games http://cort.as/anD-  

‏@simonting

The 1st 2016 comics... 

‏@ReutersAfrica

South Africa's rand slides to new low on strong U.S. data, stocks flat http://af.reuters.com/article/investingNews/idAFKCN0UN09820160109 … 

‏@Schuldensuehner

CS: Although crash in China stocks makes for headlines, FX is transmission mechanism that matters for global markets 

‏@simonting

Xi: SSEC was better than Wall St in 14 & 15, worse in the 1st week of 16?
Obama: Relax, buddy. Let's take a walk. 

‏@simonting

Unless PBoC pops out over the weekend, HSI is set to tumble below 20,000 handle on Monday. Only a 2.5-yr low!! 

‏@simonting

China PPI declined for 46 straight months, -5.9% for 4 straight months. Only -5.9%?

‏@MktOutperform

Currencies: multitude of new lows vs. the US $ this week. Yen not on that list as flight to safety took hold. 

‏@MktOutperform

Commodities: more of the same from Crude/Gasoline/Heating Oil to start the year. Gold/Nat Gas showing some strength. 

‏@MktOutperform

Excluding Russia (closed for holiday over past 2 days), Ireland has the last equity index still above its 200-day MA 

‏@Schuldensuehner

#China's Communists say they’re learning to love free mkts. World starting to learn how much http://www.bloombergview.com/quicktake/chinas-managed-markets … 

Puerto Rico .....

‏@Coffeeisforclo1

"Insurers Open a Legal Can of Worms for Puerto Rico" http://www.bondbuyer.com/news/markets-sell-side/insurers-open-a-legal-can-of-worms-for-puerto-rico-1093529-1.html …

‏@Coffeeisforclo1

"Commonwealth unlawfully diverted tax revenues collected by the U.S. government...for the specific purpose of supporting PRIFA bonds"

‏@cate_long

A big issue for Puerto Rico bond insurer litigation: will federal judge move case to Puerto Rico courts? #muniland 

JOHN E. MUDD @MUDDLAW

As to the Ambac case, there are many questions of state law that could force an abstention or a certification to the PR Supreme Court.

‏@cate_long

Important clarification on FGIC insurance payments re defaulted Puerto Rico bonds they wrap #muniland 

Susannah Page @susannahlpage

@andrea_manea @cate_long Checked w/FGIC. Ed Turi quote slightly misleading. FGIC will pay cash 22¢ on $ & balance is DPO (deferred pmt obl)

‏@cate_long

Weak bond insurer "not insuring" #muniland  

CoffeeisforClosers @Coffeeisforclo1

PRIFA Trustee “The trustee is unable to state precisely when FGIC will forward the insured payments or the final amount that FGIC will pay,”

Core issue of bond issuer lawsuit against Puerto Rico for revenue clawback = PR has not reduced spending #muniland 

Catharsis Ours

Saturday, January 9, 2016

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