Wednesday, August 10, 2016

Economic News , Data & Views ... August 10 , 2016.....Quick Hits - 1. Markets & Market Moving News : Oil Price Slumps ( Brent & WTI ) - Inventories Build & Silly Production Rumor Fading Away ; US Equities Slump Today , Bonds Bid And Gold Shines ; Overnight From Asia and Europe Today ; Industrial Production Data - Sweden , France. 2. Refugee News For Wednesday - EU-Turkey Deal , Greece , Balkans Newsbeat . 3. Greece Highlights - Domestic and International Political Intrigue , Economic Items. 4. Turkey In Focus -Purge Items , Shifting Relationships -- Russia -Turkey & Turkey - Iran Warming Up A Bit , Meanwhile Turkey - West & US Chilly. 5. Odds & Ends.


Asia updates...




Happy anniversary, yuan devaluation. This time last year you rocked our worlds. To celebrate, a stronger fix- 6.6255, most since June 23rd.







PBoC Fixes Yuan Reference Rate At 6.6255 (prev 6.6530)






CFETS celebrates 8/11 anniversary by Fixing CNY 275 pips higher!








6.2298 on August 11th








BANK OF KOREA LEAVES KEY INTEREST RATE AT 1.25% AS FORECAST








SINGAPORE 2Q GDP GROWS ANNUALIZED 0.3% Q/Q; EST. 0.8% GAIN








Market & Market Moving News...








So much for latest production cut freeze rumor - mongering attempts. Oman nor even bothering to attend Sept meeting.









The glut grows even further: US total inventories (crude + refined products) show no sign of reversing









Oil prices took a hit after data showed a climb in inventories





Inverse Nymex ramp: NYMEX SEPT. WTI CRUDE FUTURES SETTLE AT $41.71 A BARREL







 





Brent drops 1.5% as production rose to fresh high of 33.4mn bbl/d on Saudi-Iran battle for market share.







Traders Stunned As Stocks Fail To Reach Record Highs, Bonds & Bullion Bid







Frontrunning: August 10





All of a sudden , foreign buyers want US debt again...







Sweden also badly misses on Industrial Production data.








French Manufacturing Production well short of expectations..








French Industrial Production (MoM) Jun: -0.80% (est 0.10%; prev -0.50%) -Industrial Production (YoY) Jun: -1.30% (est -0.40%; prev 0.50%)









Refugee Items






Slovenia said it wasn't certain that the migrants had entered Austria from its territory, & the 22 were sent to an Austrian reception centre







The 22 found at the Karavanke border crossing are aged 16 to 26 & from Bangladesh, Iraq, Pakistan & Syria







refuses to accept 22 who authorities in Austria found on border: report









EU, Turkey can still save migrant deal, says Turkish envoy







Migrants who reached Cyprus apply for asylum








It identified one of them as 'terror' suspect Muhamed Tutmić, while the other two were believed to be Adem Karamuja & Jasmin Batanović








police hunting three 'armed & dangerous' Islamists wanted for fighting for 'Islamic State' in Syria: report









Greece In Focus....







Gov’t seeks to shift focus amid hail of criticism







Cosco completes Piraeus port takeover








Last-minute reservations support 2016 target of +6% in int'l tourist arrivals, says.









Jul arrivals at main airports: Athens +10% Santorini +16.1 Corfu +14.7 Herakleion +12.7 Rhodes +11.6 Kos -13










Neg growth rates in int'l arrivals at: Kos -13% in Jul, -15.9% in 7-mon Samos -16.3%, -29.7% Mytilene -62%, -62.7%








12.75 mln shares (51% of total shares) at a price of €22 worth €280.5 mln.












Greek PM Calls on Europe to Ease Greek Debt as Did for Germany in 1953








Turkey Items For Wednesday.....








Two Turkish attaches in Athens ‘go missing’









Turkey & Iran trade increases 30 % , since sanctions lifted. Geopolitical improvement in relations seems in cards.








UPDATE: Two civilians killed, 50 wounded in attack in Mardin's Kızıltepe








UPDATE: Four civilians killed, four police officers wounded in Diyarbakır attack: DHA








Turkey establishes direct contact line with Russia over Syria







Minister Tüfenkçi says around 200-250 companies owned by Gülenists will be shut down:







Odds & Ends....





German MEPs threaten financial sanctions - cutting off EU funds against Poland , Hungary and "other countries ."






Police stopped knife wielder before anyone was hurt , suspect not killed. Good police work.








Wikileaks offers 25k reward for information leading to conviction of killer of Seth Rich-was he Wikileaks's source ?







West urges ceasefire around key oil port (WSJ)









BREAKING: Libyan forces say captured IS HQ in Sirte (AP)









HQ of Libyan forces attacking Sirte says key objective Ouagadougou captured from IS.







News Update: Remnants of militants are now hiding in residential areas 1 and 3 and some parts in area 2
















Bitfinex history...








Key update concerning resumption of trading for all currencies, resumption of deposits & withdrawals.









Dawlat Khan says he is one of 50,000 workers who haven't been paid by Saudi Oger for at 8 months. "Our dream has turned into a nightmare."







While generally off front burner of business news-UK property fund still largely suspended , Aviva for a/o 8 months.








Ikata nuclear reactor to restart on Friday morning





With the new poll added to RCP average, Clinton leads Trump by 7.7%






Gunfire directed at Olympic bus causes some injuries, of greater concern was reaction and responses to the gunfire.










ZEW finds Deutsche Bank has a capital gap of 19 BN ( more than DB's market cap.) Nationalization the endgame ?







Bitcoin seems to be filling a void and serving a useful purpose in Venezuela.










BOJ DRAFT OUTLINE OF ASSESSMENT IDENTIFIES OIL PRICE FALLS, SALES TAX HIKE AS FACTORS HAMPERING ACHIEVEMENT OF PRICE TARGET-SOURCES







EXCLUSIVE-BOJ UNLIKELY TO TAPER QQE FROM FINDINGS FROM ASSESSMENT, THOUGH NO CONSENSUS YET ON HOW IT AFFECTS MONETARY POLICY-SOURCES










State Department and Clinton Foundation questions raised in new emails released...











The WOW chart of the day. total debt rises to ¥1,053.5tn at end-June near record despite ultra low yields.






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