Tuesday, August 2, 2016

Economic News , Data & Views ..... August 2 , 2016.. Quick Hits 1. Markets - US Stocks Suffer Another Down Day , Italian & German Banks Drag Europe Lower , Sovereign Bonds Hit As Well , Japan Futures Not Signaling Pleasant Night Ahead. 2. Germany & France In Terror Spotlights - Items Of Note Today. 3.Libya Items De Jour . 4. Spanish Political Stalemate Drags On , Catalonia Controversy Also Continues. 5. Turkey - Purge , EU-Turkey " Dead Deal Walking " & Gulen Related News De Jour. 6. Odds & Ends....


Global govt bonds sold-off as Bill Gross says record-low bond yields ‘aren’t worth the risk’

Surprise will be if BOJ doesn't intervene if 99.98 ( July 8th low ) taken out.

Generally speaking , Italian Banks shelled today. Various individual names discussed in article.

Troubling Signs out of and Saudi Arabia.

In case you missed it: Italian Banks index plunged 6% w/ Monte dei Paschi down 16.1%, UniCredit down 7.2%.

Stocks closed lower for a 7th straight session:

It's been 5 weeks since the euro was this high against the dollar

Okay - if a stick market crash ensues , is "The Donald's" call to sell stocks , going to be viewed as the impetus ?

Chart: Nikkei futures down over 3% on stronger yen -

Chart: Italian banks -

More detail -MPS -12% , Banco Popular -7.86 % , Banco Popular Milano -6.49% , Mediobanca -6.67 & Unicredit -7.00.

Not only isn't fiscal stimulus by Japan Gov't 28 trillion yen - it cld be less than the 7.5 trillion yen suggested !

BOJ answers question "who let the dogs ( bond vigilantes ) out?"

Foreigners fleeing negative rates now own 40% of the US corporate bond market.

Germany & France Terror Attacks Directed By ISIS ?

France cancels summer festivals due to concerns of terror..

1. "Evidence is mounting" terrorists in Ansbach & Wurzburg "acted on instructions from the Islamic State."

3. Same goes for terrorists in Normandy. Another video sent to Amaq () before the terrorists acted.

4. Spiegel: Würzburg terrorist in "contact w/ a person in the Middle East who is believed to be linked to IS."

5. Authorities analyzed "partly encrypted computer storage devices." Wurzburg terrorist sent "his video...to IS via Facebook."


Medical source: Death toll from suicide attack in rises to 22, 70 wounded

Central Bank: 56 banks subjected to armed robbery in 4 years

US bombing of IS in Sirte approved for 30 day period

CATALAN GOVERNMENT DIGS IN: vows to continue with separatist road map, obey "Catalan people".

PP STARTS BLAMING PSOE FOR THIRD ELECTIONS: "Pedro Sánchez's 'no' is the step before new elections".

SÁNCHEZ REJECTS RAJOY: as expected. "The left is not going to support the right".


What Turkey's vast purge would look like in the United States, for scale

coup purge turns into suppression on akp-opposition instead of putschists...suspension number raises to 280 in KESK

Turkey issues arrest warrants for 100 staff at Ankara hospital: TV

One way to avoid red cards for ongoing purge...

Erdogan tells Italy to focus on fighting the mafia , rather than investigating his son's alleged money laundering.

6 artists & directors at Istanbul Municipality Theaters are sacked due to coup decree: Sahnede şok: Açığa alındılar

No drop dead date from Turkey yet , but they keep referencing October as being an important time period.

Purge continues. ..

This is an important query posed by Erdogan.

Turkey follows up initial extradition submissions,with an additional document.

Odds & Ends...

Opposition map of southern : insurgents capture Al- but secures Al- and two hills.

Ukraine's Savchenko launches hunger strike over political inaction