Saturday, January 9, 2016

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


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Understanding the fiscal crisis in : a tale of two inflations
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How Brazil's economic crisis is affecting plans for the Rio Olympic Games







The 1st 2016 comics...
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South Africa's rand slides to new low on strong U.S. data, stocks flat
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CS: Although crash in China stocks makes for headlines, FX is transmission mechanism that matters for global markets
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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.
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Unless PBoC pops out over the weekend, HSI is set to tumble below 20,000 handle on Monday. Only a 2.5-yr low!!

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







Currencies: multitude of new lows vs. the US $ this week. Yen not on that list as flight to safety took hold.
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Commodities: more of the same from Crude/Gasoline/Heating Oil to start the year. Gold/Nat Gas showing some strength.
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Excluding Russia (closed for holiday over past 2 days), Ireland has the last equity index still above its 200-day MA

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's Communists say they’re learning to love free mkts. World starting to learn how much
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Puerto Rico .....




















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



















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








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








Weak bond insurer "not insuring"








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