Asia as news comes online....... and updated as required !
BOOM: CHINA GOVERNMENT BOND RATING TO NEGATIVE FROM STABLE: MOODY’S
US Said To Impose 266% Tariff On Imports Of Steel From China -- BBG
Capital flight delivers a verdict on China. Will a normal slowdown follow, or a bust? http://bv.ms/1QlthPz
Less talked about but more impt (it's now the biggest part of the economy), China Services PMI fell to 7-year low
Share of world GDP (PPP). 1991 Japan: 9% Germany: 6.2% Italy: 4.2% China: 4.3% 2015 Japan: 4.3% Germany: 3.3% Italy: 1.9% China: 17%
At 7.7%, this is the biggest rally in CCC High Yield Bonds since they peaked in June '14.
EM Currency Index: longest stretch w/o a new low since the bounce last March-May. Pos sign, want to see continue...
YTD returns EM Bonds (local currency): +2.98% EM Bonds (USD): +2.96% US High Yield: +1.45% US Leveraged Loans: +.04%
Expectations for next Fed hike: Feb 11 (S&P @ 1810): Jun '18 Mar 1 (S&P @ 1978): Sep '16 https://pensionpartners.com/the-easy-money-game-has-changed/ …
Commodities: good to see Copper turn pos YTD with everyone extremely negative on China. Want to see this continue.
Global Equities: up to 10 countries with positive YTD returns, top 9 are all Emerging Markets. S&P: -2.8% YTD.
Refugee situation / Border Security.....
Greece & Italy are going to appreciate this proposal.
Tusk to push Turkey for 'more intense' work on migrants http://dlvr.it/Kfhk2L
Merkel: migrants must be registered in Greece. Doen't say Austria&Balkans should reverse restrictions. http://on.wsj.com/1Qkf7OJ @berlinfraut
Greece refusing to play ball , not participating in becoming an island version , of a well of souls.
EU to call for emergency humanitarian aid to Greece http://dlvr.it/KfgyGQ
Chllr #Merkel: Situation at the Greek border shows, that decisions of all 28 (EU members) are necessary. Unilateral measures are of no help.
Spiegel article: Merkel's Humane Refugee Policies Have Failed http://www.spiegel.de/international/europe/the-limits-of-humanity-merkel-refugee-policies-have-failed-a-1079455.html … #EU
Convicted ETA Terrorist Otegi Launches Basque Election Campaign On Release From Prison https://www.thespainreport.com/articles/667-160301161302-convicted-eta-terrorist-arnaldo-otegi-launches-basque-election-campaign-on-release-from-prison … https://www.youtube.com/watch?v=Y8fKksTzNNY …
Podemos number two Errejón says Sánchez speech "was even worse than we were expecting".
SÁNCHEZ VOTE: Speech ends. Pablo Iglesias calls Sánchez's remarks "disappointing". https://www.thespainreport.com/articles/669-160301162315-confidence-vote-in-pedro-sanchez#507 …
SÁNCHEZ VOTE: Sánchez Admits PSOE + Ciudadanos Do Not Add Up https://www.thespainreport.com/articles/669-160301162315-confidence-vote-in-pedro-sanchez#504 …
Drop in PMI and economic sentiment http://dlvr.it/KfpX0H
Medium and high incomes face more tax http://dlvr.it/KfpWwp
Demo against NATO’s Aegean patrols http://dlvr.it/KfnPNN
ELA dropped in January, Bank of Greece data show http://dlvr.it/Kfm823
Europe on cusp of self-induced humanitarian crisis, UNHCR says http://dlvr.it/KfdmnB
Odds & Ends ......
API full numbers: Inventory build +9.9MM, Exp. 3.6MM Cushing +1.8MM
"Lula" targeted in corruption probe....
Wise words from the Constitution Court's Top Judge.
Now that is a layoff...
fred walton @fredwalton216
March 9th is date for next round of Syria Talks.
Not just Syria facing millions of citizens fleeing fighting. Iraq has millions of displaced citizens.
@ntanriverdi UNSC meeting tomorrow is key. UN wants a yes vote by then.
#Llibya Unclear if recognised parliament (Tobruk) to vote today on UN unity government plan. Meeting yesterday cancelled.