Wednesday, March 30, 2016

Economic News , Data & Views ( March 30 , 2016 ) Overview ( 1. US Stock " Yellen " Rally Continues Again Today. 2. Bonds News - 2 Year Yields Fall ( Keep eyes on 2-10 / 2-30 spreads ) , Bund / Bond 10 Year Spread In Focus , Ireland Sells A 100 Year Bond ( 2.35% Yield ! ) , China Debt Outlook downgraded By Moody's. 3. Oil Related News Of The Day - Both US & International Items To Consider. 4. Libya Political News De Jour. 5. Brazil In Focus - Political Crisis coupled With Collapsing Economy Items. 6. Refugee Crisis Items To Consider. 7. Greece News Of The Day - No Refugee Related Items. 8. Brexit - Pro and Con Items To Consider. 9. French Election 2017 - shock Poll Has Le Pen Leading Sarkozy For Now. )


Asia Updates.......

$890M haircut, $2.7B murky liabilities and surprise! $1.5B operating loss on the surreal Foxconn-Sharp deal

Odd what is revealed when you look carefully at the numbers: Sharp reported operating loss of 170b yen vs earlier forecast 10b yen profit

S. Korean stocks open higher following U.S. gains

S. Korea's industrial output rebounds 2.4 pct on-year in Feb.

's largest companies keep workers despite plunging profits due to unrest fears

: Chinese President Xi Jinping arrives in Washington for nuclear security summit

Are CBs coordinating to contain USD & avoid RMB shock? You can't blame them for trying.

From earlier.......

Yellen-induced rally is continuing for a second day: Dow ends up 0.5% at 17716.66, highest closing level of the year

European Peripheral Corporate Bond Yields Tumble To Record Lows Ahead Of Draghi's Monetization

2y US yields drop to lowest since Feb. 25 on Fed outlook.

AP's Sinche: 10y spread moves in favor of US…yet Euro continues its climb. Spreads will win out, bringing Euro lower

The yield on GER 10y bunds heads for the biggest quarterly slide in 5y, chart

Moody's downgrading of China sovereign bonds outlook misses bigger picture: official

Top deal-maker says Wall Street is ready to provide more cash to US companies

US turns negative as Crude inventories rose to highest level in BBG DOE history.

In 1929, US stocks peaked at 545.2m barrels. In the next month, the nearly 90-year old record could be beaten

Watch: FX reserves drop below $600 billion to 4-year low as cheap hurts

Armed men storm pro-Tripoli TV station in Libya: staff journalists

Al-Ghweil: UN-imposed Presidential Council members are infiltrators, they should turn themselves in to authorities

The Guardian - UN-backed government arrives Tripoli, may ask for western assistance

New UN-backed PM says will unify central bank and national oil corp.

Situation in very tense. Streets are empty, shops closed, & some shootings can be heard

Tripoli : Salah Badi at Martyrs Square. Forces allied with him appear to control the city center. Kara & Haitem's position unclear ATM

Tripoli : UN's Sarraj council arrived by boat from - and can't set foot outside that base. Forces against them, they may flee

As of today & for the first time, has 3 Governments -All based in

The Abusetta Naval base in will be the temporary headquarters for Presidential Council

Brazil Posts Largest Budget Deficit Ever As Rousseff Cries "Coup," Olympic Ad Sales Top $1 Billion

Brazil's collapsing GDP growth. 2010: 7.6% 2011: 3.9% 2012: 1.7% 2013: 2.7% 2014: 0.1% 2015: -3.1% 2016: -3.2%

Brazil's central bank said on Wednesday that U.S. dollar outflows totaled $2.573 billion in the calendar month through March 24.

Afghani children protest at an "open the borders" protest in central today.

protest in against EU-Turkey agreement /

Interior Minister: 'we will only approve asylum of we have to accept'

My piece on disappointing outcome of today's high-level mtg in Geneva to expand resettlement of Syrian refugees:

Smuggling is a big business and only going to become bigger.

Italy:2000 arrivals today. In 2016 +7000 arrivals compared to 2015. Mainly African nationals fleeing Libya, an increasingly violent country

Still no sign of an end to NPL growth in Greece

Hoist Finance confirms discussion re strategic partnership w/ BoG on management of NPLs of 16 banks under liquidation (h/t potik

Opposition turns up the heat on the government

Alt FinMin pledged for payment of € 7 bln arrears to the private sector by end-2016 (via )

Justice Minister backs BREXIT -safety concerns better addressed outside EU.

Brexit would be an economic and political catastrophe for everyone.

After banning senior staff from talking about "Brexit" with clients, BAML publishes this research note today...

No peace for : polls say he should resign in the event of

Brexit could take up to 10 years to happen, warns former top civil servant

Post-Brexit Britain would probably end up with fewer and worse trade deals than it has now

Wow. Poll for French presidential 1st round 2017: M Le Pen 27% Sarkozy 21% Hollande 16% (If Juppé, 31%; Le Pen 26%)