Wednesday, August 31, 2016

Economic News , Data & Views ..... August 31 , 2016 ......Quick Hits 1. Markets - US /Europe & Asia Stocks , Energy Items & Bond News For Wednesday. 2. Around The Horn In Europe. 3. US Election - Trumps Visits Mexico & Meets With Mexico's President Nieto , Items For Hillary Today. 4. Libya In Focus. 5. Odds & Ends.

Markets and Market Moving News....

Stocks Suffer Worst Monthly Loss Since January, Bonds Worst In 14 Months

The energy sector tumbled, leaving stocks in the red

The EIA made changes to the way it reports certain weekly oil data--and the market is happy.

US demand rose to monthly record of 9,664m b/d in June -- revised data

drops below $45 a barrel, down more than 3.5% on the day (and 6% so far this week)

CHART OF THE DAY: US total inventories (crude and all refined products) at new all-time high

US Treasuries finished lower Yield Check 2-yr: -1 bpt to 0.80% 5-yr: unch at 1.18% 10-yr: +1 bpt at 1.57% 30-yr: unch at 2.23%

We will see more actions like this..

Bill Gross says negative interest rates are nothing but liabilities

Frontrunning: August 31


Aspects Of EU- Turkey Refugee Deal effectively suspended , due to w/d of Turkish liaison officers from Greece.

No surprise, but we now have a hard deadline: MPs must vote in PM by 31 October, or third election will be called.

Second vote on Friday, which Rajoy is also expected to lose. Then perhaps four months until third election at Xmas.

Brexit means brexit..

Confirms not EEA. Likely aim 4 bespoke comprehensive FTA. Question remains how extensive such deal might be

EU leaders meet mid-Sept to decide their Brexit strategy. But problems in Hungary, Greece and Italy could loom larger for them than UK

Inflows increase toward Greece..

Germany's military is investigating 64 suspected extremist Islamists within their ranks

Results of TV tender may-or may not -be announced late tonight or early on Thurs, depending on whether it's completed-media reports

Merkel could take a hugely symbolic body blow with this upcoming election.

Denmark following through on making access more difficult for refugees and migrants. ..

US Politics....

Is Clinton vs Trump-race to the bottom ? Trump in Mexico & a/o own goal w/the wall.Hillary's neverending Emailgate.

CNN: Trump said paying for the wall never came up. Prez of Mexico said it did, and he said “no way we’re paying.” Why did Trump lie?

Trump now talks of improving Nafta, not gutting it or scraping it.


Trump says building a physical barrier or border wall is a right for any country. Calls border security a shared objective.

President Peña Nieto says the purpose of asking Trump to meet was to get to know each other and each others' views, including on trade.

Full bit of Peña saying NAFTA can be improved to benefit of both U.S./Mexico:

"Our border should be viewed as a joint opportunity. BOTH countries should be INVESTING in making it more secure," Mexico's president says



Peña Nieto notes that arms and money flows south across the border, fueling drug violence. Calls for joint effort to combat illegal traffic.

: Hillary Clinton dismisses Donald Trump's trip to Mexico

Silicon Valley is finally opening its wallets to Hillary Clinton's campaign

Comparing Hillary Clinton, Donald Trump on the Truth-O-Meter

Hillary Clinton may have sent even more classified info through email


UN's GNA appoints personal guard acting as supreme cdr of armed forces--in direct violation of 's constitution

GNA: Maitieg, one of several deputies appointed by the UN, describes himself as the gov's managing director

UN's GNA (5 of 9 guys) go to Sirte for photo op on same day US leaks warships with Marines will stay in sight

Chemical weapons components leave Libya under naval escort (BBC)

If there is not much change in the new GNA cabinet, it won't secure a vote of confidence. All odds are now against the PC & GNA.

Nadori appoints brig. General Mabrouk al-Ghazwi as new Governor of Kufra's municipality. Military taking hold on local level in E .

Naji Mukhtar: The State Council was not formed legally, the matter is related to parliament and amendment of the constitutional declaration

Naji Mukhtar: There are controversial figures that must step back to give a chance to others [referring to State Council]

Odds & Ends...

Inspector General: IRS identified 1.1 million cases of identity theft but didn’t notify victims

Looks like election results not received well by the people.

Good summary & analysis of different POVs.

Hanging Shipping runs aground. Banks pan their so called recovery plan.Off to receivership

Healing underway ?

Bitcoin's future in uncertain after Baidu bans ads- Nikkei Asian Review

JUST IN: NWS says tropical depression off Florida has been upgraded to Tropical Storm Hermine.

As expected , Rouse is stripped of the Presidency.

Dropbox has been hacked

For PR board Obama will name Carlos Garcia Jose Carrion III Andrew Biggs David Skeel Arthur Gonzalez Jose Gonzalez Anna Matosanto

Despite rumors floated about Deutsche Bank merging with Commerzbank, DB CEO Cryan tosses cold water on such rumors.

Turkey detained former Istanbul police chief, several governors and nine journalists Tuesday as part of coup probe

S. Africa rand falls after biggest debt manager halts loans to state firms via

ICYMI: BOJ's Funo doesn't see limits nearing to monetary easing

Interesting detail in Russian version of airstrike against Adnani. They say they hit him in village Maarat Umm Hawsh

Isis territory in Iraq melting away..