Friday, September 9, 2016

Economic News , Data & Views ..... Friday September 9 , 2016 ..... Quick Hits - 1. Markets & Market Moving News : Bonds , Oil , Stocks Smacked Down Globally ; No Oil Deal In Algiers : Additional Items To Consider. 2. Syria - US & Russia Strike Deal In Geneva With A Goal Of Cessation Of Hostilities Nationwide , Additional Items To Consider. 3 Around The Horn In Europe - France , EZ/EU/ECB , Tsipras Has His EURO-Med Confab , EU-Turkey Deal Items , Germany Sees Its Exports Crash , Additional Items Of Note. 4. JASTA Passes Congress - Bill To Give 9-11 Victims The Right To Sue Saudi Arabia - Will Obama Try A Veto ? 5. Libya In Focus.




Markets & Market Moving News....




Today: one of the most lopsided days in history w/ declining volume at 96.8% of total volume







BIGGEST WEEKLY PCT DROP FOR DOW INDUSTRIALS SINCE FIRST WEEK OF 2016






FOR THE WEEK, THE DOW FELL 2.2 PCT, THE S&P 500 LOST 2.4 PCT AND THE NASDAQ DROPPED 2.4 PCTT





S&P 500 UNOFFICIALLY CLOSES DOWN 53.15 POINTS, OR 2.44 PERCENT, AT 2,128.155






NASDAQ UNOFFICIALLY CLOSES DOWN 132.37 POINTS, OR 2.52 PERCENT, AT 5,127.122







CBOE VOLATILITY INDEX CLOSES UP 34.2 PCT, BIGGEST SINGLE-DAY JUMP SINCE LATE JUNE; INDEX ENDS AT HIGHEST LEVEL SINCE JUNE 28















RT FT : Bonds and equities tumble after comments from Fed governor Eric Rosengren









Market reports , data and news for Asia and Europe , Wall Street preview.








German ten year now has positive yield. Japan ten year JGB continues its tear. US ten year at 1.66%










| ministry appointing new governor, national representative, and team. BBG.








Focus Moves From Freeze to Output Ceilings as Unity Sought via









Saudi, Algerian Oil Ministers to Meet OPEC Chief in Paris ... via







Syria....



US-RUS Agreement



Journos under "hotel arrest" says after waiting for 4 hours for and .










came with 5 boxes of pizza, then left and came back later with 2 bottles of vodka. Still waiting










RUS pays for vodka. US pays for pizza. Diplomacy lives and reporters get compensation for waiting patiently.








John Kerry announces deal with Russia to reduce violence in Syria








Kerry: today US and Russia are announcing a plan






tired sounding Kerry says US & Russia reached a deal. hope it reduces violence. believe if implemented could has provide a turning point.






Kerry: if plan implemented in good faith, this can be a moment where efforts at peace table could take hold






Kerry said deal not announced earlier because details crucial to be finalized. dont implement themselves





Kerry said deal not announced earlier because details crucial to be finalized. dont implement themselves






Kerry says restraining syria air strikes crucial to this cessation, not to operate in opp area; nusra isil are excluded





If cessation takes hold for some time, US and Russia work together to take military strikes vs Nusra. opposes peaceful transition






US & Russia callfor 7-day hudna to start sept.12, as confidence measure for broader agreement. Regime should pull back from castello road





Kerry: US and Russia call on all sides to recommit to nationwide cessation of hostilities. effective, sundown september 12 (eid)








Kerry thanks de Mistura, Syria NGO community. Lavrov. Kerry says Lavrov and his team have been very patient while cross ts. :-)







: BIG news on . Armed opposition groups now face their biggest decision since '11. Wait now to hear their reactions in coming hrs








Lavrov calls syria comflict "a quagmire," with so many stakeholders involved. some parties want to undermine our negotiation







Lavrov says plan includes 5 documents, on coordination, humanitarian aid, ensure compliance for ceasefire, facilitate stalled pol.process









Lavrov says parties have 48 hours to pledge anew commitment to hudna. if cessation holds 7 days, US & Russia wd establish joint cell









Lavrov says there are areas where only US and Russia will operate (from air). syria air force won't operate there.






Additional Items On Syria...















US denies involvement...






Around The Horn In Europe .....






Incredible...










Wow !









French Prosecutor: Women who planned Notre Dame attack were directed by ISIS







Female 'fanatics' planned to attack Paris' Gare de Lyon station: French officials









Well , then Budget idea for EZ is a long way off.








Having listened to presser, can only agree. "We need more growth, we need to listen to citizens". Nothing concrete.









After EuroMed, Tsipras calls for dialogue for a better Europe, says initiative not divisive. Pretty underwhelming.









Erdogan showing the EU who has the leverage in this situation. EU meekly trying to get out of its latest jam.











QE eligible universe just got slightly bigger. 1 more bp and the ECB will be allowed to buy the Bund May 2023 again.








Greece debt relief still not making the agenda at EG....







MOSCOVICI: GREECE MUST COMPLETE MILESTONES BEFORE FUNDS GIVEN







MOSCOVICI: STILL FEASIBLE TO COMPLETE GREEK MILESTONES ON TIME MOSCOVICI: MISSION BACK IN ATHENS NEXT WEEK









It appears that migrants started disappearing from state facilities over the past few weeks.










Athens rejects reactivation of the Dublin Regulation, that would allow reverse migration flow back to Greece.











German exports collapsed in July on both MoM & YoY basis.









JASTA Passes.....







White House has signaled will veto but unless folks flip, looks like votes are there for an override









Senate&House have both passed bill allowing 9/11 victims' families to sue Saudi Arabia - Obama faces great diplomatic pressure to veto bill









9/11 families' attorneys Jim Kreindler and Andrew Maloney celebrate JASTA passage outside Capitol







Libya......





Absence of governance-Ppl stuck n home&have no-1 to call for assistance but their own bravery to help themselves, as militias clash .






Situation in is still very tense, roads are blocked & some shootings can be heard








Warning from US envoy to those preventing oil exports from 1st shipment from Ras L scheduled for Sept 18th.









'S STATE OIL FIRM NOC NEGOTIATING SALE OF 1 MLN BBL CRUDE CARGO TO CHINA FROM RAS LANUF PORT -SOURCES via RTRS







Musa al-Koni to take over as head of Pres. Council for a period of one week.








Koni directs Ministry of Interior to step up security in Tripoli...












LIA dismisses claims of handover to steering committee, confirms Breish remains CEO









Court challenge to decision of UN-backed government appointing new chiefs of LIA sovereign investment fund.










Sid Blumenthal email to Clinton suggests intensifying 2011 Libya bombing due to low Obama polls via









Report: 90,449 residents escaped city after takeover, over 75% of population