Markets & Market Moving News....
Inventory build : 2.35MM
Gasoline draw: 1.48MM
Distillate draw: 1.15MM
Cushing draw: 1.03MM
And now Iran: IRAN OIL MINISTER SAYS DOESN'T BELIEVE AGREEMENT ON QUOTAS CAN BE REACHED AT THIS MEETING
UAE MIN. SAYS OPEC `CANNOT JUST UNILATERALLY DO A FREEZE'
Of course not...just another pump and dump algo rake scheme today...
Venezuela woes impacting BP..
As a reminder, Russia will not be at the OPEC meeting and is no longer seeking a production freeze
Great round up for Asia overnight , Europe this morning & front burner for US for Wednesday.
US manufacturing weakest since Sept 2009. Fed really going to hike into this ? Suggests weak payroll numbers Friday.
Huge miss for construction spending. Actual (-1.8) vs expected increase (+0.6) , biggest drop since 1/11.
Renzi's bank rescue plan is on thin ice as #Italy's banks are the weakest in the #Eurozone. http://www.bloomberg.com/gadfly/articles/2016-06-01/italy-bank-rescue-plan-gets-less-credible-with-veneto-ipo …
30% of Germans want to quit EU, #Merkel’s govt. drops below 50% http://on.rt.com/7e9n
Greece....
Remaining prior actions- pension benefit (EKAS), special wages *and* NPLs - have been tabled in Greek parlmnt, to be discussed Thu - ana-mpa
Greek PMI drops to 48.4 in May, new orders down at sharpest pace in 8 months https://shar.es/1dVdE6 #Greece #economy #PMI
Tsipras Speaks of Growth While Companies Shut Down One After the Other http://dlvr.it/LSJ7j8 #Greece
New criteria for solidarity grant (EKAS) will be applied as of Jun 1, instead of Jan 1, acc to an amendment tabled in #Greece Parliament.
Freeze of promotions in special wages will not be applied if fiscal interventions of equal savings r legislated until Sep 30, 2016 #Greece
Deadline of tender process for strategic investor in ADMIE cut to 4 mons (frm 5) after PPC GM, acc to amendment tabled in #Greece Parliament
UK .....
Just 8 days to register to vote in the EU referendum. Don't forget your NI number. Register to vote - GOV.UK https://www.gov.uk/register-to-vote …
RT FT : Donald Trump is coming to visit the UK, the day after the EU referendum vote http://on.ft.com/1ROel9P
EU Referendum: "glib and kipperish" - Vote Leave buys into the points system ... http://www.eureferendum.com/blogview.aspx?blogno=86085 … #Brexit
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Judge says Nigel Farage's defeat by Tories could be ruled 'void' over expense scandal http://www.telegraph.co.uk/news/2016/06/01/judge-says-nigel-farages-defeat-by-tories-could-be-ruled-void-ov/?utm_source=dlvr.it&utm_medium=twitter …
Fears over Brexit vote integrity as EU citizens sent polling cards for referendum http://bit.ly/1Y2u64B
After few weeks of Remain dominating newsflow, Leave fightback effective. Reveling in purdah. Also shows govt most active part of Remain
Exactly right !
Odds & Ends.....
Safety a main concern for #EURO2016 as France, Germany set to bolster security http://dw.com/p/1IyNP
Walking a fine & delicate line...
Great political overview for Spanish election politics. Worth taking a few minutes to read.
Schauble complains CSU bullying Merkel & CDU...
#Libya Tripoli protests calling for GNA to improve living conditions.
Clashes in Istanbul between police and protesters break out on Gezi anniversary http://ow.ly/otjM300NuG8
Residents desperate as anti-IS forces move on Manbij http://ow.ly/TkSq300PdTC
What is the Manbij pocket - and why are at least 200 US commandos there right now? http://ow.ly/lulU300Nh28
Looks like Manbij effectively cutoff from Jarbalus...
Turkey might not be supporting , but also isn't impeding the operation , at this time.
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