Monday, February 8, 2016

Economic News , Data & Views ( February 8 , 2016 ) Overview ( 1, Equities - Global Perspective . 2. BOJ vs FED - Currency Tussles . 3. Bond Land - Global Topics. 4. Chines New Year Closures through Much Of Asian Markets . ) Europe ( 1. ECB Late Afternoon Chatter On Global Coordination At G-20 . 2. Greece Items Of Note . 3. Refugee / Migration / Border Security Items Of Note. 4. Major Market Sell-offs. 5. Russia To Issue Debt - first time Since 2013. 6.Odds & Ends. )



Evening Wrap....






Overview.....






Equities, % off 52-wk high
China: 47% Italy/Brazil: 31% Germany: 28% France: 23% UK: 20% Canada/Japan: 19% US: 13%
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The BOJ is doing everything in their power to crash the Yen and it is flat vs. the Dollar since November 2014.


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"the Federal Reserve computer systems used to manage interest on reserves do not currently allow the possibility of a negative IOER rate"










Distressed Bond Index at new lows: 64% below June 2014 peak.
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Credit meltdown at : Mar 2016 bonds plunge to 85¢ (yield 187%); Jan 2017 bonds drop to 32¢ (yield 197%)
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New all-time low today in Canadian 10-year yields: 1.05%. A kerfuffle over rising rates, eh?
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Chinese New Year market closures today: Mainland China, Hong Kong, South Korea, Singapore and Taiwan






New all-time yield lows today in
Sweden Germany Netherlands Finland Austria Belgium France Japan Yellen is watching

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Europe......






Disappointed with Europe, 1000s of Iraqis return home







The stick save for US stocks came courtesy of ECB'S Coeure's hint of global coordination at G-20-Shanghai(2/26-2/27)







Tsakalotos hopes review will be done in few weeks

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No changes to cash withdrawal ceiling

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Rush to get hot spots ready meets more resistance
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Standoff between gov’t and farmers grows
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Banks in Greece today National Bank of Greece -29% Piraeus Bank -29% Alpha Bank -16% Eurobank -30%
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Mystery behind sell-off in bank stocks. Oil related sovereign wealth funds have biggest chunk of money in fin sector
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Mike Shedlock: European Bloodbath Spills Over to US Markets: Deutsche Bank CoCo Bonds Collapse, Shares at Record L…









Turkey fears influx of 600,000 refugees from Aleppo bombing
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BOJ in NIRP. ECB being warned by DB against further easing by BOJ or ECB. FED hamstrung after one 25 bps hike.







Greek Tragedy: Pension Pandemonium Sparks Bank Crash, Stocks At 26 Year Lows









'Bypassing sanctions': Russian govt plans to raise $3bn by issuing first bonds since 2013











Bundesbank chief specifies he doesn't think eurozone finance ministry is feasible, and won't push for it













struggles to process ' applications
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Another crisis in Greece is quietly building up steam...










Migrant Crisis: Newest Tragedy, at Least 33 Victims











"Send them all back': Austrian chancellor demands" | Mail













| *ASE ATHEX INDEX FALLS TO LOWEST INTRADAY LEVEL SINCE 1990 ..Guru Josh project


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Turkish PM: Turkey, Germany to work together for NATO involvement in curbing refugee flow










: Turkish PM: Turkey, Germany to start joint diplomatic involvement to end onslaught in Aleppo









Syria’s Kurds plays US off Russia, opening first foreign office in Moscow






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