Tuesday, July 19, 2016

Economic News , Data & Views ..... June 19 , 2016....1. Market Moving News - Crude Draw Of 2.3MM, But Gasoline Build Of 805K , Deutsche Bank & Italian Banks In Focus , US Stocks - Dow & S&P Green Again , Turkish Lira Weakens Due To Latest Purge Turmoil , Asian Markets Slip Overnight. 2. Turkey Purge Continues , Efforts To Seek Extradition Of Gulen Move Forward. 3. Libya News De Jour. 4. Odds & Ends.

Markets & Market Moving News....

Crude Inventory: -2.3MM Gasoline: +805K Distillates: -484K Cushing: -84K

. When measured by credit markets, Deutsche Bank trades in one league w/ Italian Banks.

Default probability of ’s banks up after EU Court of Justice ruled that Slovenia’s bail-in in 2013 was legal.

Lira weakening accelerates beyond 3 per Dollar.

Good morning from Berlin. Asia markets slipped as a downturn in oil curbed enthusiasm from fresh records on Wall St.


( Much more at Twitter Timeline....)

Turkish gov't closes 24 radio, TV stations for coup ties

Very interesting read.

Wikileaks under cyber-attack after threatening release of Turkey cables

Erdogan supporters spread fear in Germany as protesters smash windows and write abuse

Gulen comment regarding Turkey's extradition request.

Interesting tidbit (H/T Laura.) Seems power cut still in effect at Incirlik AFB. That means power cut since 7/16 !

TURKEY: External power to Incirlik Air Base remains out, forcing the base to rely on generators for electricity

US not to oppose any move by to revive in

After a somewhat confusing array of statements (some contradictory in nature) , here is where things seem to stand.

As to whether a second coup attempt likely in near term -unlikely due to purge.


Purge totals status. Also-when 21,000 private teachers , who had suspended today included -grand total-66,562.


Gen. Khalifa Haftar rejects idea of army leadership council UN proposing: Jerroushi

Not much going right these days...

Proposal says this Defense Board would be in charge of appointing Chiefs of Staff: source

Tunis mtg of security figures discussed proposal of forming 9-member Defense Board headed by Haftar while GNA retains SupremeCommand: source

Only 22 of the 40 members of Libya Dialogue, which created the UN-backed govt, attend key meeting Tunis

Odds & Ends....

France extends state of emergency for 6 more months...

Total surveillance - People's work, social and behavioral patterns are recorded, analyzed and archived.

ABC reports Rajoy might not try confidence debate if PSOE's Sánchez doesn't promise King he will abstain.

Following recent shootings in Baton Rouge , La - another policeman shot in line of duty - Kansas City , Kansas.

BREAKING: Clinton expected to announce VP pick on Friday

Iraq PM accepts resignations from 5 key Ministers - can he get replacements approved by Parliament?

Corbyn Miles Ahead of Smith:

FSA rebels, thought to be of US-backed Nurredine Zinki Brigade parade, then behead a child said to be captured on Handarat Front in Aleppo

Absolutely horrid ( please note video very graphic and not suitable for many) ...note this beheading by "moderates".

police find 78 'illegal' , arrest six & bust two networks used to smuggle people from

This really goes some distance to clarify why Ailes is being pushed to resign or be fired. Megan Kelly a victim too.

Separate incident from man who attacked woman and her children , apparently.

Apparently not done due to ISIS direction-but subjective offense concerning dress (appropriate) of victims.Horrible.

Brexit vote not changing fact UK remains a great destination for investment.