Thursday, September 22, 2016

Economic News , Data & Views....... September 22 , 2016...... Quick Hits - 1. Markets & Market Moving News : Stocks , Bonds , Commodities All Jump After Fed Once Again Passes On Hiking Rates ; Oil Rises Despite Another Flop Of A "Consultative " Meeting Set For Algiers Later This Month ; Additional Items Of Note. 2 Around The Horn - Europe -- Italy ( Referendum Set For Nov 27th Or Dec 4th / Banks Troubles Detailed ) , Greece - Various Items Of Note , Banks In Europe In Trouble , TTIP/Ceta Items , Brexit Items , Portugal Facing Completely Unsurprising Economic Slowdown After Austerity Chokehold , ECB - Comments From Draghi , France Items ( Presidential Politics / Refugee Concerns ) , Spanish Politics & Additional Items Of Note.


Markets......













Stocks, Bonds Climb as Buttresses Cheap-Money Era; Oil Jumps.










Dow Jones rises on slow motion Fed as yield-driven multiple expansion trade from summer is back on the table & stocks are rallying as result











ROGOFF SAYS NEGATIVE RATES `NECESSARY': HANDELSBLATT










Yellen To Wall St: It's Christmas In September So Buy, Buy, Buy!










*U.S. 9-YR 10-MO TIPS DRAW 0.052%; ALLOTTED AT HIGH 14.04%










JPM's Head Quant Throws In The Bearish Towel; Sees Nothing But Smooth, Levitating Markets Ahead








| No major breakthrough achieved after 2 days of discussions in Vienna between . source to reuters.









OIL PRICES PARE SOME GAINS AFTER REUTERS REPORTS NO MAJOR BREAKTHROUGH REACHED AT MEETING OF OPEC OFFICIALS IN VIENNA











IRANIAN PRESIDENT ROUHANI SAYS IRAN RARE OIL PRODUCER WHO HAS BEEN ABLE TO OFFSET "SHARP SLIDE IN OIL PRICES"








OPEC PRESIDENT QATAR SAYS SEPT 28 OPEC TALKS WILL BE AN INFORMAL CONSULTATION IN PREPARATION FOR THE NEXT OPEC MEETING ON NOV 30








Frontrunning: September 22








"Sell Everything" - RBS on Jan 11 Returns since... Oil: +38% EM: +29% S&P 500: +14% US High Yield: +13% : -41%







Around The Horn - Europe....







Italian constitutional referendum will be Nov27 or Dec4, Renzi says. (Chart via )










Marinopoulos suppliers must decide whether to accept 50 pct debt haircut












Neglect compounding the refugee crisis












New multi-bill with prior actions heads to Parliament









Juncker getting "junked"..










Greek 2-year bond yields tumble











French Trade Minister confirms to that he will demand a halt to TTIP talks tomorrow, but voices support for CETA.











DEUTSCHE BANK WOES SAID TO SPARK CONCERN AMONG GERMAN LAWMAKERS











BREAKING. Boris Johnson says the Government will trigger Article 50 early next year and set out the 'parameters' for a Brexit deal










faces slowdown amid anti-austerity moves, warns.









This puts total impaired lending at close to EUR 333bn, or 16% of total lending (20% of GDP) -











Time for another chart of doom: GDP is 8% below its 2008, pre-crisis level, while the level of GDP is 1.4% above. (via BNP)









Eurozone Official: Growing concern that Monte Paschi recap will fall short, may need state led bailout










EU banks may need rescue funds equaling twice capital.









ECB'S DRAGHI SAYS MARGIN AND HAIRCUT REQUIREMENTS COULD IMPROVE FINANCIAL STABILITY









ECB'S DRAGHI SAYS MARGIN AND HAIRCUT REQUIREMENTS COULD IMPROVE FINANCIAL STABILITY










's Draghi says Europe has too many banks.











In interview, Tsipras sketches out path for Greece to exit crisis









Juncker lashes states over refugee failings










Amnesty slams conditions for migrants in Greece









French presidential favourite Juppe tweeting that Le Touquet deal with UK on Calais migrants must be "reset"












Another tragic ship capsize with hundreds of people possibly drowned.










Belgian police actions spark international incident. How often has this occurred ?











COMMERZBANK SEEN PLANNING TO CUT MORE THAN 1,500 JOBS: REUTERS











Pedro Sánchez to propose a new attempt at a socialist government. Read our August 13 editorial for context:









Second Athens Ledra Hotel auction fails to attract bidders











Italian prosecutors have dropped a money laundering case against the son of Turkish President Recep Tayyip Erdoğan.













*DEUTSCHE BANK SAID TO RESTRUCTURE AUSTRALIA WEALTH MGMT BIZ:AFR










| *PADOAN: PUBLIC SPENDING CUTS PENALIZED ITALY MORE THAN OTHERS









*GUINDOS SAYS CARETAKER GOVT CANNOT PRESENT BUDGET











FT piece says that are looking for a LEGAL way to extend QE, and expand the pool of eligible assets under QE.