Monday, May 30, 2016

Economic News , Data & Views ( May 30 , 2016 ) Quick Hits On Memorial Day (US) ( 1. Markets & Market Moving News : ECB Having Difficulty Generating Inflation Despite Spending 1000 BN Since March Of 2015 ; German Import Prices Fall 6.6% In April In Biggest Drop Since 2009 , But Note May CPI + 0.1 Y/Y and + 0.3 M/M ; USD Bets Jump On Fed Signals ; WMPs Bringing Default Risks Higher In China - Iron Ore Futures Fall to 3 Month & Yuan Fix Set At Lowest Level Since Feb 2011 ; Abe Postpones Sales Tax , Nikkei Jumps 1.4% . 2. Greece News For Monday : Deal With Creditors Not Quite Completed , Hurdles Remain ; Economic Data For Monday. 3.Libya Updates For Monday. 4. Odds & Ends. )

Markets & Market Moving News....

GERMANY MAY PREL. CPI +0.1% Y/Y, +0.3% M/M, APR -0.1% Y/Y

The spent EUR 1000 bln. since March last year, without getting any in return! (ht )

'June Jitters' due to:
-Brexit vote -Fed hike? -OPEC meeting -Spanish election via

Deflationary forces remain. German Import prices fell 6.6% in Apr, biggest drop since 2009.

Bull bets jump most in 6 months on Fed signals.

Default Chain Reaction Threatens Products Worth 35% of GDP

's Nikkei closes up 1.4% at 17068.02 and Yen weakens considerably as as Abe said to postpone sales tax hike.

China’s Iron-Ore Futures Slide to Three Month Low



Tens of thousands of workers rush to retire in view of new pension cuts

Two hurdles- sale of NPLs backed by state guarantees & clawback of EKAS subsidy payments received this year.

Finance Minister Euclid Tsakalotos said some of the additional demands could not be fulfilled, the sources said.

Greek taxes take big bite out of OPAP profit

Q1 GDP -0.5% QoQ: Final consumption -0.5% Investments -6.8% Exports -3.3% Imports -0.3%

May Economic Sentiment -0.6 points to 89.7, Consumer Confidence +1.8 points to -71.9 (EC).

seasonally adjusted Q1 GDP -1.4% YoY from -0.9% YoY in Q4 (ELSTAT).

gov't target for completion of pending prior actions extended until Fri (from Wed) (via )

Toll charges to increase on some highways due to VAT rise

State arrears could be paid off in 12 months, says Stathakis

Mitsotakis demands answers over change to law on politicians and offshore firms

Odds & Ends ....

Libya Update 1: UN-backed government forces from Misrata continue advance against IS in Sirte. Declared they will surround the town

Libya Update 2: Eastern central bank issues its own currency June 1. UN-backed govt. says it can circulate alongside existing dinars

Libya Update 3: UN-backed government of national accord (GNA) arrived in Tripoli 2 months ago tomorrow.

Libya Update 4: 700 migrants feared drowned, 13,000 rescued, off Libya in past week.

Petroleum Facilities Guard which guards main eastern oil ports joins offensive against IS at Sirte.

Fighting /Daesh in is pretext for next intervention in (see comments ad nauseam by US military) So Sirte has to drag on

/Daesh: British troops were angry over recent Misrata advances & stopped them from entering Sirte Remember stalls in Benghazi?

Odds & Ends ....

German Lower House of Parliament set to pass Armenia resolution. Turkey warns of hit to bilateral ties.

Now Erdogan takes on treatment against french protesters - but what about his treatment of Kurds within Turkey ?

Last YouGov Poll - 23-24 may

Presented without further commentary...

Police have arrested a man at -Bonn airport and things are getting back to normal

Bulgaria stops 100 migrants seeking new EU route at Greek border

Alloush resigns, blaming international community for failure to end the civil war in .

Moment /i forces entering Hay al-Shuhada' in city from the south-Eastern front, breaking lines.

Federal Police freed 800 civilians around highway, north of the city, where is under attack.

With the fall of the southern front, the Noay'miyah area inside city is under Counter Terrorism units. Fight ongoing

CT units advance supported by Helicopters and jets bombing positions in Noay'miya. Only 55 sqkm remain under in

CT units advanced from 2 fronts inside the city of (3d step) from Jisr al-Muwaz'zafeen and North-East the city against

Syria's opposition peace negotiator Mohammed Alloush resigns with no progress in peace talks

Iraq joins Middle East rivals raising oil exports ahead of OPEC meeting

HK Tao Heng Hldgs ( is using robot in its Dongguang restaurants. Next in HK?

The company that builds iPhones is replacing workers with robots