Global Equities in a better place than last week (up to 7 countries pos YTD), still much damage to repair...
2-Yr Yields US: 74 bps Japan: -20 bps Germany: -53 bps Switzerland: -97 bps If low yield = low growth, US is winning
EM currencies showing some small improvement from their lows. This is good, want to see more.
Gold: +15.7% YTD. Good to see Lumber move to pos YTD. Want to see continued improvement there & Copper as well...
UK- EU reach a deal today...... time to celebrate.
.@thetimes says Cameron failed to deliver "live and let live" EU he wants. Says will be a hard sell. But doesn't obviously back either side
David Cameron announces UK-EU deal http://tgr.ph/4nkuyh
@thetimes second edition front page.
RT FT : Why the UK's EU referendum is an existential problem for London — and Paris http://on.ft.com/20JZsL7
'Crystal clear' that deal includes no eurozone veto for UK, Juncker says http://u.afp.com/Znxq
He is correct as to this point.
No breakthrough on refugees in Brussels talks http://dlvr.it/KYW7Sg
Farmers’ blockade at border stoking tension in Bulgaria http://dlvr.it/KYW7SM
Gov’t plan for forced use of cards runs into the market’s failure to adapt http://dlvr.it/KYW7Rv
Minister finally asks Athens Airport chief to proceed with contract extension http://dlvr.it/KYW7R2
Annual targets for slashing bad loans http://dlvr.it/KYW7Pc
NATO - Turkey In Focus......
See my piece on Ankara attack: the first ever Rojava-inspired vehicle-borne suicide attack in Ankara http://almon.co/2lni via @AlMonitor
Lux FM "NATO won't provide unconditional support to Turkey in the case of a Turkish-Russian conflict" @20committee https://www.superstation95.com/index.php/world/912 …
Ukraine Situation .....
Crisis heats up http://bit.ly/24eAfNz
Today Pres Administration @TheBankova received a letter of resignation from Pros Gen Viktor Shokin – acc to @STsegolko
What the hell just happened in Kiev? As @MaximEristavi explains, yesterday’s showdown proves who still runs Ukraine: http://atfp.co/20GEDQG
Spain Political News Of the Day ....
Rajoy repeats that he wants to be the PP candidate if there are new elections in Spain.
Rajoy repeats that it is "reasonable and sensible" for parties that came first, second and…fourth…at general election to govern together.
Rajoy says it would damage EU and damage UK, if UK voted for Brexit in referendum: "We want to be together". #EUCO
Rajoy says he "gets the feeling Sánchez hasn't wanted to talk to us" about the "reasonable and sensible" PP-PSOE-Ciudadanos coalition option
MOODY'S: Spain's "political environment is likely to be highly fragmented for the next 3-4 years". https://www.moodys.com/research/Moodys-changes-outlook-on-Spains-Baa2-rating-to-stable-from--PR_344070 …
PSOE LETTER: Sánchez warns Spain might not get a government until August. https://www.thespainreport.com/articles/642-160219174549-psoe-agrees-to-left-wing-summit-as-sanchez-warns-spain-might-not-get-government-until-august …
Sánchez has just 12 days to:
1) do a deal; 2) organise grassroots ballot; 3) hold federal committee meeting;
LATEST: PSOE Agrees To Left-Wing Govt. Summit With Podemos, IU & Compromise
Odds & Ends......
Rising US Stockpiles. No production cuts looming from RUS/Iran/Saudis. Questions re: storage capacity at Cushing.
Eurozone consumer confidence falls sharply, -8.8, Exp. -6.6, Last -6.3
#Kosovo MPs continuing to vote in Parliament while wearing gas masks to avoid being teargassed by Vetevendosje MPs.