Wednesday, March 16, 2016

Economic News , Data & Views ( March 16 , 2016 ) Overview ( 1. Yen, Real, Ruble, and Euro All Higher vs. The US Dollar Thus Far In 2016. 2.Fed Holds rates , RBS Changes Fed Call From 3 Hikes In 2016 To 2 ( Jun+Dec .) 3. NIRP-Land - A Look At 5 Year Yields. 4. US Data For Today - Industrial Production Misses Expectations , Cap Utilization Off as well . 5. Oil In focus - News For Today . ) Europe In Focus ( 1. Latest On EU- Turkey Talks Set For March 17-18th , Developments Of The day. 2. Greece Items Of The day - Economic Developments , Political Intrigue. 3. Spain Political Updates. )





Overview......




Yen, Real, Ruble, and Euro all higher vs. the US Dollar thus far in 2016...









Oooh. Post-Fed dollar dump, PBOC strengthens yuan fix by 0.32% to 6.4961. CNH extending losses.








"Data Dependent" Fed Chickens Out Again - Blames Global Uncertainty For US Rate Hold










RBS changes Fed call from 3 hikes in 2016 to 2 (Jun+Dec): No reason to forecast more tightening than Fed themselves.








Update: Fed moves closer to the market once again. Dovish shift. From Dec expectation of 4 hikes in '16 down to 2.







  1. Chart (, ) Foreign official accounts sold treasuries as FX reserves declined; poor timing -










Quote: The FOMC remains concerned about global risks -












Chart: The FOMC's long-run US GDP growth forecast lowered again -








5-year yields... Switzerland: -0.77% Germany: -0.26% Japan: -0.20% France: -0.14% US: +1.53%











US FEB INDUSTRIAL PRODUCTION -0.5%; EXP. -0.3%; CAP UTIL DOWN 0.4 TO 76.7%








Chart: US crude oil production gradually declining -









| RUSSIAN DEP ENERGY MIN SAYS IRAN TECHNICALLY MAY INCREASE ITS OIL PRODUCER BY 400,000-500,000 BPD BY END OF 2016 ..."technically"










| THERE IS NO 'GRAND BARGAIN' WITH RUSSIA OVER SAUDI OIL POLICY - JUBEIR









Europe......







EU-Turkey Talks & Refugee Situation .....







EU’s Juncker Says Turkey Isn’t Ready to Join the EU in 10 years: Handelsblatt









How will Turkey to Europe's apparent "high hat " treatment regarding Turkey's demands ?













Spain rejects mass return of refugees - detailed 11 point proposal of Spain for TH/Fri EU -Turkey Summit


















800 rescued off Libya coast today












Greece.....





OLP deal set for signing on April 8










Growth expected in arrivals from the US, Russia, Germany








Talks trip on tax-free allowance









An agreement could be reached with on tax by lowering the tax-free threshold by at least €1,500 euros...









...& on reform with national pension at €384 yet with 20 (and not 15) working years, acc to local media.








Spain....







Podemos dismisses top official to avoid internal rebellion – party leader Iglesias takes over territorial decisions























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