Monday, April 11, 2016

Economic News , Data & Views ( April 11 , 2016 ) Overview - Top Items For Monday ( 1. Is Crude Oil About To End Longest Downtrend In History ? 2. Currency News De Jour - Gauging Various Currencies VS USD ( YTD ) , Emerging Market Currencies Have Strongest Rally In Five Years - From February Lows For 2016 . 3. US Credit / Leveraged - Against Considerable Improvement From February Lows , Emerging Market Debt ( In USD ) - At An All-Time High. 4. Global Equities - Familiar Theme - US/ Mexico / Russia Closest To All-Time High , Bouncing From February Lows. 5. Libya Political Travails In Focus. 6. Syria Battlefield Reports . ) Europe In Focus ( Greece Debt Talks Status , Economic Data , Refugee Situation. 2. Ukraine Political Situation - Yats Resignation Set To Be Presented To Rada Tuesday , Successor Still Up In The Air. 3. Italy In Focus - Refugee Situation , Bank Bailout Fund . 4. Odds & Ends. )


Overview......




Crude close to ending its longest downtrend in history. What has it done in the past following long downtrends...








All higher vs. US Dollar YTD: Brazilian Real Japanese Yen Russian Ruble Swiss Franc Euro Chinese Yuan








Strongest rally in over 5 years for Emerging Market Currencies...






US Credit continues to improve, leveraged loans moving straight up from their Feb lows.






USD EM Debt ETF at a new all-time high. Widely outperforming US high yield/loans since '14.






Global Equities, Closest to All-time Highs... U.S. Mexico Russia






Recognised parliament (Tobruk) announces vote next week on UN-backed unity government plan.






ISIS threat reaches deeper into , where 4 fields close; workers strike due to insecurity







SAA ready to encircle city as & rebels fight in the north - Map ...





seizes 11 localities on -Turkey border in Aleppo province






Europe......






Greece.....




Schauble misleadingly casts "debt relief" , sought by Greece and the IMF , as "debt forgiveness."












Greece blasts Macedonia for using 'excessive force' on migrants







Greece hopeful of moving migrants from Piraeus but tension grows at Elliniko





Poor conditions in Greece fail to deter refugees from wanting to continue journey






Commissioner Moscovici says situation is manageable, role in programme is 'decisive'.






Greece, Portugal make common cause against austerity, refugee crisis








Greece aims to reach agreement with creditors next month







Tsipras says IMF insists on wrong policies in Greece






EU Commission says progress with Greece but reform talks ongoing






325 immigrants have been returned from Greece to Turkey since April 4th and 75 Syrians have been resettled from Turkey to EU







Ukraine In Focus ......







Oh dear... now threatens to resign!

























Groisman refuses to be Ukraine’s prime minister — lawmaker













Dutch Christian democratic opposition demands from PM Rutte he clarifies what he agreed with Ukraine's President










Italy - Refugee Situation & Bank Bailout.....







ITALY FUND TO HAVE BANKS, INSURERS, FOUNDATIONS AS INVESTORS - No German taxpayers, hmmm?








Italy rescues 1,850 migrants in Strait of Sicily








And there it is: ITALY FIN. INSTITUTIONS, CDP AGREE TO SET UP FUND FOR BANKS: BBG





Odds & Ends......







's Avg Govt Bond Yield, known as Umlaufrendite, has dropped to ZERO for 1st time ever.








RT Lead Socialist negotiator today gave clearest indication yet that Spain will go to re-run elections. Important







HETA CREDITORS SAY FMA DEBT CUT TRIGGERS CARINTHIA GUARANTEE







It also wiped out any residual equity and the junior liabilities as well as any supplementary capital.



















French protesters vow to return for 12th night after police clear their camp









Iraq boosts crude output to record level before talks on production







European leaders indicated w/i hours of Dutch vote being announced that Brussels was likely to simply ignore it.







Background: if says Turkey refuses to take back migrants from the Greek islands, the deal is over








5,835 unaccompanied minor asylum seekers missing in Germany in the past year-as per the German Interior Ministry.










BREAKING: Iran says Russia has delivered first component of S-300 air defence system