Catharsis Ours: Economic News , Data & Views ( February 24 , 2016 ) Overview ( 1. NIRP News Of The Day. 2. S&P Sectors Analysis - YTD. 3. G-20 Looms , Data From China & IMF Staff Report - Real GDP Growth In Focus. 4 BUBA Defends Cash . 5. ECB In Focus - Draghi Watch Begins For March ECB Meeting. 6. Odds & Ends. ) Europe In Focus ( 1. Referendums , Refugees , Border security Issues. 2. NPLs - Italy And Spain In Focus vs US Banks. 3. Political Updates - Spain And UK. 4. ECB/ Bond / British Pound Items.) Odds & Ends ( 1. Zika Item - Three Pregnant Women Test Positive In Florida. 2. Brazil Downgraded to Junk By Moody's - Also At Junk By Fitch And S&P. 3. Syria News Of Note. 4. Libya News Of Note

Overview.....

Asia Tonight first......

BoJ already owns 34% of Japanese gov debt & 54% of Japanese ETF market. What will they do if Yen keeps moving up ? 

‏@zerohedge

CHINA TO COORDINATE WITH G20 MEMBERS TO BOOST CONFIDENCE: ZHU. Which FX data series will it no longer publish then?

‏@zerohedge

PBOC fixes Yuan Yuan at 6.5318 vs 6.5302

‏@zerohedge

YUAN DEVALUATION NOT ON G-20 AGENDA, LOU SAYS: CHINA DAILY

‏@zerohedge

Japanese 'Margin' Traders Suffer Biggest Losses "Since Lehman" http://www.zerohedge.com/news/2016-02-24/japanese-margin-traders-suffer-biggest-losses-lehman …

From Earlier Today....

‏@MktOutperform

Negative Yields through...
Switzerland: 15 yrs
Japan: 10 Yrs
Germany: 8 yrs
Netherlands/Finland: 7 yrs
France: 6 yrs 

‏@MktOutperform

S&P sectors:
1) Telecom/Utes at new 52-week highs
2) Energy/Industrials outperforming YTD
3) Financials weakest 

‏@Schuldensuehner

#China's Faded Glamor Dents Chances of a G-20 Deal as China Growth Near Zero in Nominal Dollar Terms. (via BBG) 

‏@Schuldensuehner

#IMF issues Staff Report ahead of G20, downgrades likely. http://www.imf.org/external/np/g20/pdf/2016/022616.pdf … 

‏@Schuldensuehner

Buba presented defense of the use of cash as 4/5th of consumer transactions in Germany are made in cash, half for US 

‏@Schuldensuehner

Draghi has 2 weeks to map #ECB plan. Expectations are high that they will do something. http://bloom.bg/1OtrhjP  

Europe ......

Referendums , Refugees , Border security Issues

‏@AustinSwith

So Netherlands, Hungary and UK are all having referendums on EU sovereignty issues in the next few months. Something fundamentally wrong.

‏@RT_com

#Hungary to hold referendum on #EU migrant quota plan http://on.rt.com/75br  

‏@SpiegelPeter

In #Merkel call, @atsipras expresses "intense displeasure" EU not abiding migration commitments. Shoe on other foot? 

Prime Minister GR @PrimeministerGR

Σε επικοινωνία με την A. #Merkel εξέφρασα την έντονη δυσαρέσκειά μου για τη μη τήρηση συμφωνηθέντων για τη διαχείριση της προσφυγικής κρίσης

‏@SpiegelPeter

Same day as #eurogroup, just for old times sake. #Greece 

Donald Tusk @eucopresident

On migration, our joint #EUTurkey action plan remains a priority, which is why we will organise a special meeting with Turkey on 7 March

‏@Zoe_Leoudaki

Germany sends home rejected Afghans - A special flight from Germany carrying 125 deported Afghans arrives in Ka... http://ow.ly/3bGZT7 

‏@minefornothing

Migrants block Greek motorway as bottleneck grows http://www.channelnewsasia.com/news/world/migrants-block-greek-moto/2545304.html …

‏@kiamistilis

Greek farmers continue nationwide road closures after failed talks w/ #Tsipras, worsening situation 4 buses of #refugees & motorists #Greece

‏@fredwalton216

Hungary to hold a referendum on EU Migrant quotas. Will rest of Visegrad States follow Hungary?  

AFP news agency @AFP

#BREAKING Hungary to hold referendum on EU migrant quota: PM

‏@YiannisMouzakis

We are past this point, long past #Greece #refugees  

Alexis Tsipras @tsipras_eu

The #RefugeeCrisis is an intl problem and must be addressed  as such by EU. Greece will not accept unilateral actions. (2/2)

‏@SpiegelPeter

I present 2 maps for today's class discussion: 1. Countries meeting in Vienna on migration, 2. Well, another one 

‏@ftbrussels

Vienna v Berlin on refugees? Today's Brussels Brief w/@alexebarker filling for @SpiegelPeter http://on.ft.com/24oJBpS  

‏@keeptalkingGR

#Austria to offer sending soldiers to #FYROM to guard borders to #Greece

NPLs......

‏@TorrasLuis

#Spain and Italy banks have 2x as much NPLs as US banks via @zerohedge @GNietoNieto 

UK & Spanish Politics .....

‏@kavvy_1

EU chief: UK could have second referendum if voters go for Brexit http://fb.me/7O0kpMNzr 

‏@guardian

Brexit would harm efforts to tackle global poverty, UK aid figures warn http://trib.al/JIyx2va 

‏@business

Ryanair runs anti-Brexit ads ...but says a weak pound is not a worry http://bloom.bg/21gl1Ze  

‏@zerohedge

GOVE MAY BE REMOVED AS JUSTICE SEC ON BREXIT SUPPORT: TELEGRAPH.

‏@OpenEurope

Poll: British Euroscepticism nears all-time high but majority favour remaining EU member http://openeurope.org.uk/daily-shakeup/poll-british-euroscepticism-nears-time-high-majority-favour-remaining-member/ …

‏@richardcalhoun

EU reforms 'not legally binding' - Michael Gove - http://goo.gl/news/achUL  via http://news.google.com/ 

‏@fredwalton216

Big question now is will PP abstain and allow PSOE and Ciudadanos to form a Government ?  

El País in English @elpaisinenglish

Ciudadanos performs U-turn and agrees to actively support Socialist chief Pedro Sánchez's bid to become Spanish PM http://cort.as/cOKE 

‏@elpaisinenglish

Podemos says it will not support Socialist leader Pedro Sánchez's PM bid if he signs deal with Ciudadanos http://cort.as/cOFA 

ECB/ Bond Items /British Pound....

‏@lemasabachthani

*WEIDMANN: MUST NOT UNDERESTIMATE COMPLEXITY OF BANNING 500-NOTE

‏@Schuldensuehner

#Portugal's 10y yields drop as left-wing govt has reassured bond mkts by passing emergency budget & buying back debt 

‏@russian_market

This is London.
And this is Pound crashing. 

‏@moved_average

#Germany | SELLS €819M VS €1.0B IN 2.5% JULY 2044 BUND; AVG YIELD: 0.77% was 2.64% last time up 

‏@keeptalkingGR

#Austria to offer sending soldiers to #FYROM to guard borders to #Greece

Odds & Ends.....

‏@cnnbrk

3 pregnant Florida women test positive for Zika, state health officials say. http://cnn.it/1TzLsDf . 

‏@zerohedge

Moody's Joins S&P, Fitch, Cuts Brazil To Junk http://www.zerohedge.com/news/2016-02-24/moodys-joins-sp-fitch-cuts-brazil-junk …

‏@ukworldnews

ABC News: Up to 30,000 Troops Needed for Syria Safe Zone, Kerry Says http://abcnews.go.com/International/30000-troops-needed-syria-safe-zone-kerry/story?id=37173697&utm_source=dlvr.it&utm_medium=twitter …

‏@TheEconomist

Putin's strategy in Syria is paying dividends. The West looks on helplessly http://econ.st/1UimGbr  

‏@AlArabiya_Eng

Assad tells Putin he’s ready to respect Syria truce 
http://ara.tv/ymenq  

‏@DailyStarLeb

Syrian opposition has yet to decide whether to commit to ceasefire: chief negotiator http://bit.ly/1PZ1Evp 

‏@reportingLibya

#Libya Tripoli-based government condemns army offensive in Benghazi  

ALNABAA NEWS @ALNABAA_EN

Ministry of Defense of Salvation Government condemns the recent events in #Banghazi , #Ejdabia and #Subrata. 

‏@Rana_J01

Umm...so, no need to vote on GNA & should adopt a...declaration resembling a press release, with no signatures.   

Martin Kobler @KoblerSRSG

I call on the leadership of #HoR to formalize the declaration of the majority of its members approving Government of National Accord #Libya

Catharsis Ours

Wednesday, February 24, 2016

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