Tuesday, August 23, 2016

Economic News , Data & Views....August 23 , 2016..... Quick Hits - 1. Markets & Market Moving News ; Bonds & Credit In Focus ; Stocks - US , Europe & Asia In Focus ; Oil News For Tuesday ; US Data - Richmond Fed , New Hoes Sales. 2. Turkey In Focus - Purge Updates , Gulen Items De Jour , Additional News Of Note. 3. Libya - Political Impasse Continues , Additional Items Of Interest. 4. Iraq - Syria Theatre , Political Developments. 5. Odds & Ends.

Markets & Market Moving News....


Yield chasing still occurring.....

3 month Libor still rising...

Yield curve still flattening....

Harsh but on point..

Stocks book modest gains as new home sales rise

Frontrunning: August 23

Brexit fears not showing up in European PMI data..

Whenever interest rates start to rise , Italy's debt burden is going to start becoming indigestible...

Italy to follow UK out the door ?

BOJ cornering another market , what do they buy next as an encore?

Asia Tuesday wrap....

Crude build 4.464MM, Exp. -850K

when PM was specifically asked if govt was opened to a freeze, his response was "iraq is still below what it should produce"


Richmond Fed manufacturing index -11 vs +6 expected

US New Home Sales Jul: 654K (est 580K; rev prev 582K) -New Home Sales (MoM) Jul: 12.40% (est -2.00%; rev prev 1.70%)


Looks like Turkey doesn't have evidence linking Gulen to July 15th Military Coup Attempt.

State Department confirms Turkey has formally requested extradition of Mr Gulen.

just not one related to (2016) attempted coup attempt. 2/2

So formal extradition request made but it is apparently related to pre 2016 attempted coup

Erdogan signs a top military council decision that forces 586 colonels into retirement.

In the case , what would seem to be paranoia , well warranted behavior.

Turkey (135) nearly tripled China (49) in the number of imprisoned journalists. Egypt jailed 23 and Iran 19 journalists.


Confusing. Cabinet had previously taken office, but 4 ministers removed after failing to show up.

Much uncertainty over future of UN-backed govt (GNA) after parliament (Tobruk) rejected cabinet. GNA PM may propose new cabinet

Ali Tekabli: House of Representative to form 'mini-government' if Pres. Council goes down

1.28 mil barrels of oil exported via 's Brega & Hariga ports since Sat, sent to

High Council of State blasts HoR after Monday's vote.

Going to be interesting to see next chapters in this book.

Iraq & Syria....

Qayyarah is about 72 km away from Mosul...

Jarablus operation against ISIS looks set to be launched imminently. ..

will offer all military support to rebels & Jabha al-Shamiya in their forthcoming attack against in the coming days

Despite serious differences regarding Syria & Assad , one thing Turkey & Iran agree on is perceived kurdish threat.

With the mediation of , a Cease-fire between and concluded. No forces in the city, only police units. .

started a wide attack INSIDE aviation academy against Jihadists & rebels with /n Air Force active in the sky.

Odds & Ends....

Al Nusra has a PR guy...

Not a good look..

Banks looking at using block chain technology to facilitate settlement.

“Combined, the 85 donors contributed as much as $156 million.”

Debt pile keeps growing...

Update on refugee situation...

Plan B unravelling...

Japan is creating its own version of a doom loop..