Friday, June 17, 2016

Economic News , Data & Views ..... June 17 , 2016 ....... Quicks Hits 1. Markets : Central Banks Impotence ; Commodities Surging vs Stocks ; Crude News De Jour ; Brexit Impacting Flows - 1.1 BN Pulled From UK Equity Funds In Past Week ; Additional Items Of Note. 2. Spanish Political Watch - General Election Poll Data. 3. Italy - Recent Polling. 4. UK Referendum News. 5. Greece Items De Jour.)




Markets......







File under "None of the CBers now what the heck is going on ..."









Over the last 3 months, we've seen the strongest relative move in Commodities vs. Stocks in 8 years...







US oil rig count rises for 3rd straight week, showing that some drillers were returning to market at current levels.








Brexit fears have sent $1.1bn rushing out of UK equity funds in the last week






10yr bund yields touched 0.03% at one point today. Investors getting paid to hold ultra-safe German debt in deflationary EZ, crazy.








Chinese Yuan hit its lowest level in over 5 years vs. the US Dollar this week...







Spain.....





Spain: Seat prognosis for general election shows a continuation of the deadlock (Redondo & Asociados poll).







Spain: Seat gains for (GUE/NGL) expected. Most pollsters say that (S&D) will come 3rd.






Italy.....







Italy, Euromedia poll: PD-S&D: 30% ↓ M5S-EFDD: 28% ↑ LN-ENF: 14% ↑ FI-EPP: 14% ↑ FDI-NI: 5% SI-LEFT: 3% ↓ UDC/NCD-EPP: 2% ↓






Brexit .....





Take the poll with requisite grains of salt...














UK police say probing far-right links of MP murder suspect: AFP









Fwiw , he offers good points to consider.









As mentioned in P.Ts , let the police establish facts and let's not presume "unestablished facts" as truth.







These appear to be the final polls on the horizon before the vote...










*RENZI SAYS IF U.K. LEAVES EU, IT WILL EXIT FOREVER







TNS poll conducted 7th-13th June showed 20% of all adults have already voted in the EU referendum by post.










Greece.....






NPL problem is huge but road is now open for its management








Greece spends billions on imports that it itself produces too








Tragic...







Greek civil aviation workers suspend strike after talks with government







Greece wants to send thousands of migrants back to Turkey in coming weeks