Tuesday, July 12, 2016

Economic News , Data & Views - July 12 , 2016 ...... Quick Hits .....1. Markets & Market Moving News - Dow & S&P 500 Hit New All Time Highs , Crude Inventories Have Surprisingly Large Build , US Ten Year See Yields Spike Higher , QE & Helicopter Money seen Coming For Japan But Juicing Stocks Generally , And About Brexit - Markets Seem Over That For Now. 2. UK Politics " Game Of Groans " Continues , Post Brexit News For Tuesday. 3. Spain Political Process - Dance To Form Gov't Continues , Dance with Europe Over Budget Deficit Closure Continues. 4. US Civl Unrest Updates.



Crude Inventory +2.2MM Gasoline +1.5MM Distillate +2.6MM Cushing -0.166MM

Biggest 2-day jump in 10Y yields since 2011

US $20bln 10y Auction
Cover: 2.33(prev 2.7) Yield: 1.516%(prev 1.702% WI 1.504%) Direct: 7.9%(prev 7.2%) Indirect: 54.3%(prev 73.6%)

Remember Brexit

Crazy world: Investors pay ever more to lend to trouble spot . Rome sold €6.5bn 1y bills at record low -0.176%

UK Politics  & Post - Brexit News.....

Jeremy on the ballot. Democracy prevails. We will use leadership election to sign up even more members & prepare ground for General Election

This from Howe & Co Solicitors to NEC

IS received secret funding from Gulf states: British parliament report

This is significant: says it would be "virtually impossible" to remove EU citizens who've been in the UK for at least 5 years

So Siemens has decided not to quit UK after all, despite hints during Referendum. There's a surprise.

Online petition , already rejected by the Gov't , to be debated in Parliament on September 5th.

Spain Political Scene....

Rajoy meets PSOE leader Sánchez tomorrow at 11 a.m..

After meeting with Rajoy, Pablo Iglesias says with 71 seats, it is not Podemos's job to take the initiative.

Pablo Iglesias says the parliamentary maths allows for a left-wing coalition but that the PSOE doesn't seem to want to consider that idea

Guindos said he thought Europe deficit fine for Spain would be "zero" because Spain's economy growing most and creating most jobs.

LATEST: Spain to try to avoid Europe deficit fine by raising corporation tax by €6 billion, says government.

EU FinMins agreed Spain & POR have violated EU spending limits. Get 10 days to avoid deficit fine of up to 0.2% GDP.

After PSOE and Ciudadanos statements, only option in Spain is PP minority government if both parties abstain, or a third round of elections.

US Civil Unrest - Post Dallas News De Jour....

Shootings in Dallas, Baton Rouge, and Minnesota prompt new conversation about security |

Police officers fired, demoted and suspended for comments against Black Lives Matter

Negative feedback loop ...

Obama & "W" speak in Dallas today...

WATCH LIVE: 3 people arrested in Baton Rouge in alleged plot to kill cops

An Illinois woman was arrested for posting on Facebook that she would shoot an officer who pulled her over.

Statement from the Mayor of Houston. This pertains to this weekend's officer involved shooting.

, now aboard AF1 which is enroute to for today's memorial service. & wife Jill Biden also attending

Obama heads to Dallas, determined to bridge the divide deepened by last week's shootings

A bunch of dudes parading with assault rifles and gas masks made the chaos worse in Dallas