Catharsis Ours: Economic News , Data & Views ( May 18 , 2016 ) Overview For Wednesday ( 1. FOMC Minutes Spark Large Reactions In Bond , Precious Metals and FX ; Non Opec Crude Supply Barely Nudges Downward Over Last 12 Months ; Divergence Between German Bund & US Treasuries Continues. 2. Brexit Daily Tidings. 3. Greece - Creditor Talk Updates & Related Matters , Refugee Related Matters . 4. Libya - Around the Political Horn. 5. Odds & Ends. )

Markets & Market Moving News....

US 2y yields jump to highest since March as FOMC Minutes point to a Fed that wants to pull the trigger in June.

‏@Schuldensuehner

#Gold and #Silver get hammered by hawkish FOMC Apr minutes.

‏@Schuldensuehner

Big levels have broken post FOMC minutes, acc to Citi. What to watch for.

‏@MktOutperform

Fed hike odds for June move from 12% yesterday to 32% today. September moves from 47% to 62%. #FOMC

‏@MktOutperform

Non-OPEC Crude Oil supply down 1.7% over the past year. $CL_F

‏@MktOutperform

Unbelievable spread between US and German bond yields. The great divergence... https://pensionpartners.com/the-great-divergence/ …

Brexit......

‏@fredwalton216

Project Fear not working with business leaders ...

Prof. Steve Hanke @steve_hanke

#Britain's business leaders have voiced their support for #Brexit to remain competitive in the global market http://www.zerohedge.com/news/2016-05-15/uk-establishment-stunned-over-300-ceos-back-brexit-business-not-government-creates-w …

‏@fredwalton216

This poll seems a bit of an outlier , but we shall see.

Alberto Nardelli @AlbertoNardelli

Ipsos MORI #EUreferendum poll:

Remain 55%
Leave 37%

‏@fredwalton216

Deferred until after Spain's re-run election and UK referendum. ..

Mehreen @MehreenKhn

Reprieve for Portugal and Spain until early July  http://on.ft.com/1THoo20 

‏@fredwalton216

Decision two days before vote ....

Holger Zschaepitz @Schuldensuehner

German court to rule on ECB bond-buying plan 2 days before #Brexit referendum. http://on.ft.com/1OGaUaA  

Greece.......

‏@fredwalton216

Can kick past German Elections in 2017...

Yannis Koutsomitis @YanniKouts

#Germany Fin Minstry sends letter to Bundestag's budgetary comttee signaling its willingness to lower #Greece's debt burden ~@HandelsblattGE

‏@fredwalton216

Debt for Greece will remain a distant mirage , if this flies...

Yannis Koutsomitis @YanniKouts

“These measures would be contingent on full implementation of the [Greek reform] program by 2018”: #Germany Fin Ministry ~@HandelsblattGE

‏@Schuldensuehner

EU's Dombrovskis: One option to ensure IMF stays in Greek program is to buy back earlier IMF debt & move it to favorable EU conditions (BBG)

‏@fredwalton216

563 asylum seekers relocated in past two months , only 1500 total relocated since "scheme" announced. Epic fail.

Daphne Papadopoulou @daphnenews

EU states virtually ignored a European Commission target to take in 20,000 asylum seekers fr Gre+Italy http://reut.rs/1qtxFmw  via @Reuters

‏@fredwalton216

Takeaway - Are IMF's relations w/ other creditors becoming so strained as to imperil the entire bailout process ?

Holger Zschaepitz @Schuldensuehner

Why the #IMF proposals for a Greek debt amnesty go too far. http://bv.ms/201imxQ  

Libya......

‏@fredwalton216

Congress appears to be awake and not neglecting its duty to carefully examine lifting this arms embargo re : Libya.

Al-Monitor @AlMonitor

The UN is ready to lift the arms embargo on #Libya but Congress is not convinced - @CongressPulse http://almon.co/2nx0 

‏@fredwalton216

More mischief...

Chris Stephen @reportingLibya

#Libya President of Tobruk-based parliament wants vote on UN-backed government with changes to its structure. https://www.libyaherald.com/2016/05/16/ageela-saleh-calls-for-hor-to-decide-on-gna-threatens-to-sack-presidency-council-

‏@reportingLibya

#Libya Report - 18 Misratan forces dead in battles today with IS west of Sirte.

Nadia Ramadan @NadiaR_LY

#Libya | 18 killed & 20 injured from #Misrata forces (aka #GNA forces) after clashes with #IS + suicide attack by #IS

‏@Eljarh

#Libya no sign of cooperation between LNA & GNA in fight against Daesh. Attempts to achieve unity continue in Cairo today. #Tripoli

‏@Eljarh

#Libya more trouble from Agilah Saleh. PM Serraj in Cairo to meet with him, but Agilah refused to meet despite agreeing to meet previously.

‏@fredwalton216

General Haftar unloads , GNA and their sponsors try to ignore this for now.

libyaherald @libyaherald

Hafter throws down gauntlet to international community - https://www.libyaherald.com/2016/05/18/hafter-throws-down-gauntlet-to-international-community/ … 

Odds & Ends ......

‏@fredwalton216

Olive branch  extended to Conservatives...

Jason Seher @jhseher

Legal analyst @JeffreyToobin: #Trump’s potential #SCOTUS picks ‘conservative dream team’ http://cnn.it/1Tpkr69  

‏@AFP

Venezuela police fire tear gas, block anti-Maduro protest in Caracas http://u.afp.com/Zbwk 

‏@fredwalton216

Cash crunch ?

Javier Blas @JavierBlas2

#SaudiArabia Considers Paying Contractors With IOUs http://bloom.bg/1syoPGd  via @business #oil #opec 

‏@fredwalton216

Did Bill clear his remarks with Hillary before blasting Poland & Hungary?

The Daily Star @DailyStarLeb

Poland, Hungary fume over Bill Clinton 'dictatorship' remark http://bit.ly/1W22QU7 

‏@fredwalton216

Political pressure mounting on not just SPD , but CDU/CSU.

Holger Zschaepitz @Schuldensuehner

#Germany's SPD falls to lowest level in nearly 25 years. http://www.welt.de/politik/deutschland/article155434241/SPD-faellt-auf-tiefsten-Wert-seit-fast-25-Jahren.html … via @welt 

‏@fredwalton216

Classified documents reveal theEuropean plan to send cameras, scanners & servers for refugee registration to Sudan

Andrew Stroehlein @astroehlein

Germany will help a man wanted for genocide set up “closed detention camps” in his country http://bzfd.it/1W0TEPL  

Catharsis Ours

Wednesday, May 18, 2016

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