Evening wrap......
Overview For Tuesday
Global 2-Year Yields, CPI, and Real Yields...
Current market rate hike expectations...
US: Oct 2017
UK: August 2019
Eurozone: Dec 2019
Japan: 2020
#Oil plunges as Iran calls freeze proposal 'Ridiculous' & API report shows inventory buildup http://bloom.bg/1XKpvSv
Risk-off day points to Swiss Franc & Yen on some tepid US econ data, sell-off in #oil, a negative message from JPM.
Asia For Wednesday ......
Barclays in the sharp, one-off yuan deval camp. 25% deval, 6-12 months before fx reserves fall below comfort levels. http://www.bloomberg.com/news/articles/2016-02-23/barclays-says-sharp-yuan-devaluation-needed-to-shift-psychology …
PBOC moves the yuan to the weakest against the dollar since Chinese new year. USDCNY fix is 6.5302 vs 6.5273 Tuesday
Decent print on Singapore GDP.
Q4 1.8% (est 1.8% prev 2%)
Q4 q/q SAAR 6.2% (4.5%, 5.7%)
2015 y/y 2.0% (prev 2.9%)
2016 forecast kept at 1-3%
Kuroda: plenty of room for #BoJ rate cuts
Europe Highlights.....
UK Referendum , BREXIT Panic Attack News Of the day.....
Sterling’s decline deepens ahead of Brexit vote http://bit.ly/1p1ZHWl
What you need to know about the insane "Brexit" debate happening in Britain right now http://slate.me/21oIq7D
This is what a vote for Brexit could do to the pound http://www.bloomberg.com/news/articles/2016-02-24/how-low-could-pound-fall-in-a-brexit-economists-say-try-1985 …
Industry leader says Brexit offers 'abyss of uncertainty' http://www.itv.com/news/update/2016-02-24/industry-leader-says-brexit-offers-abyss-of-uncertainty/ …
So this is what the Dutch think of #Brexit: (via @HansNijenhuis)
#BrexitQuiz #Brexit
7. Of which country did @fhollande say this week "They have no special status - there will be no treaty change"?
Ex-military chiefs voice Brexit security fears: http://bit.ly/1QZD5fD by @DavidHughesPA
Cabinet ministers campaigning for #Brexit banned from using the civil service for help http://trib.al/Oc4sZPB
My views on Brexit vote & why is a major downside risk to both the UK & the global economy as it raises uncertainty
https://uk.finance.yahoo.com/video/danny-blanchflower-end-no-brexit-184054100.html …
Questions Raised Over Brexit Bosses' Threat http://news.sky.com/story/1647357/questions-raised-over-brexit-bosses-threat …
Czech PM sees 'Czexit' debate if Britain leaves EU: Report http://str.sg/ZCCp
Refugee Crisis/ Border Security.....
Belgium moving 290 extra border police to French frontier and reimposing passport controls believing Calais Jungle camp will be shut down.
Belgium reintroduces border controls to stave off migrant wave http://bit.ly/1SRigc3
Is Lebanon's hospitality for #refugees turning into a disaster? http://dw.com/p/1I002
Crisis grows along Greek-Macedonian border as Skopje limits passage #RefugeeCrisis http://dw.com/p/1I0Fp
Tsipras voices 'displeasure' to EU over Balkans border bottleneck http://dlvr.it/KbDBlh
More than 102,500 people crossed to Greece in 2016, IOM says http://dlvr.it/Kb9zlt
Refugees are arriving in Europe eight times as faster than this time last year http://ind.pn/1PVdIOb
Open Europe
New @BertelsmannSt study: Scrapping #Schengen could cost anywhere btwn €470bn to €1.3tr over next 10 yrs: http://openeurope.org.uk/daily-shakeup/cameron-government-would-promptly-trigger-article-50-in-the-event-of-a-leave-vote/#section-7 …
Spanish Politics.....
Pablo Iglesias says Podemos will vote against any PSOE-Ciudadanos deal, that the numbers won't add up "even if the Pope ratified the deal".
Ciudadanos makes five new last-minute demands on PSOE, "or there's no deal".
https://www.thespainreport.com/articles/651-160223123006-parties-race-to-do-a-last-minute-deal-as-deadline-for-vote-of-confidence-in-psoe-leader-approaches …
Ciudadanos makes five new last-minute demands on PSOE, "or there's no deal".
https://www.thespainreport.com/articles/651-160223123006-parties-race-to-do-a-last-minute-deal-as-deadline-for-vote-of-confidence-in-psoe-leader-approaches …
Which means Pedro Sánchez now has even less time to do a deal: seven days.
UPDATE: Speaker Announces He Is Moving Vote Of Confidence Forward By One Day https://www.thespainreport.com/newsitems/494-160223125810-update-speaker-of-congress-announces-he-is-moving-vote-of-confidence-forward-by-one-day …
Odds & Ends ......
Small sample , but still disturbing.....
Benghazi's dynamically changing ground situation makes the prospect of the UN-proposed GNA unlikely & a Libya-driven solution more plausible
#Libya Detail on today's postponed vote on unity government (AFP) http://news.yahoo.com/lack-quorum-scuppers-libya-confidence-vote-131423935.html …
Saudis not cutting production. End scene.
German, French anxiety over Ukraine political crisis mounts http://bit.ly/1PVfEGt
IMF termination of Greece Program has already occurred , two months early actually.
#Euro drops below $1.10 after disappointing German ifo index.
#Germany's Ifo dive in Feb to 105.7, lowest since end-2014 as expectations fall off a cliff. http://www.bloomberg.com/news/articles/2016-02-23/german-february-ifo-confidence-falls-below-forecast-figure …
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