Tuesday, June 21, 2016

Economic News , Data & Views ( June 21 , 2016 ) ..... Quick Hits - 1. Markets : Brazil Financial System Roiled By Massive 19BN Oi Bankruptcy Filing ; Global Bonds Items & Interest Rate Paradoxes ; ECB In Focus . 2. Brexit Items For Tuesday - Poll updates , Highlights From Great Debate , News & Views For Tuesday . 3. Spain Polictical updates , Polling . 4. Greece Updates De Jour. 5. Odds & Ends - Japan , Refugee Related Items , Libya Items To Consider German Constitution Court Bows To ECJ. )


Oi bankruptcy sends shockwaves through ’s financial system.

Looks like Portugal Telecom deal at the heart of Oi's difficulties..

With filing for nations biggest ever bankruptcy, reports indicate / joint venture looking to renegotiate ~$4bn in debt

Swiss 30-year, Japanese 15-year, and German 10-year yields move back into positive territory. Rising Rates?

What if US Yields have already bottomed ?

Fed Funds Rate (upper bound): 0.5% Taylor Rule Estimate: 3.71% Largest spread in the past 30 years.

's Merkel defends low-rate policy. Says ECB responding to low inflation, Real rates ‘not So bad.’ (BBG)

Only the sky is the limit: balance sheet hits fresh record at €3,109.588bn. Rose by another €15.7bn on QE.

reform efforts have 'fallen by the wayside' w/ easing, S&P says.

Bitcoin falls as low as 640 , on no apparent news...


Record electorate for looming referendum...

Schedule for final polls..

Survation Poll: There has been a 2 point swing from Undecided to Leave since Saturday

As expected , Remain & Leave are neck and neck.....Leave + 2 since Saturday......

FT Poll of Polls with a dead heat and 11% undecided

Final Debate on deck...

Unsure why pointed to the evil Banks as a reason to back when the banks are telling us to vote

"David Cameron deserves credit for the deal he negotiated with the EU" says Sadiq. The audience literally roars with laughter.

Labour MP Gisela Stuart opens : ask yourself just one thing - if we were not in the EU, would you vote to join today?

MHP head slams David Cameron over Turkey EU accession remarks

Interesting interview of Juncker covering Brexit , Greece & Russia...

Put the fear-mongering to the side. Here are clear eyed views , from various economists , to consider.

Transferwise are suspending GBP transfers on Thursday

German leader Angela Merkel has already told us what Remain looks like...

Draghi on Brexit: "we've done all the preparation that is necessary now"


's Rajoy can survive defeat. The question after Sunday will be: can he survive victory?

Spanish elections forecast on 26 Jun looking like this at the moment


As migrant arrivals to Greece pick up, HR group slams gov decision to change panels hearing appeals against returns.

Increase in migrants reaching Aegean fuels concern

So , Juncker visited Greece - posed for photo ops w/ Tsipras & praised Greece being on the right path-now this drops !

Juncker says Greece on the right path......

Industrial turnover dives by 15.3 pct in April in 4th straight double-digit decrease

Greece receives its disbursement...

Odds & Ends.....

Never cease to be amazed at general lack of interest or intellectual curiosity, as to exactly what's occurring?

Great article ! Examining relatively recent pivots/shifts in Turkish Foreign Policy - Israel , EU , Russia & Syria.

Calais refugee camp tumult continues...

The Member States agreed to relocate 66,400 from Greece to elsewhere in . They've taken just 1,629.

Not clear if " taking responsibility " actually means he will quit.

34 Libya unity forces killed in Sirte clashes with IS: new toll

Report: pictures weapons store explosion today east of Tripoli


Report: Death toll Libyan forces battling IS at Sirte now put at 49, 150 wounded.

Despite bank notes being air-lifted into Libya , bank liquidity problems worsening ? Where did the money go ?

Reports of continuing water supply problems in both Tripoli and Benghazi

Turkey blocks dozens of Syrian refugees w/ visas fr leaving for Germany-grounds for denial of exit permits not given

That the German Constitution Court is bound by a ruling of ECJ-should be as great a concern , as OMT participation.