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. )


Overview.......





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%)