Bond-Stock Correlation Reaches Record High http://www.zerohedge.com/news/2016-09-27/bond-stock-correlation-reaches-record-high …
Asia markets were solid performers. Europe rolling over as Trump vs Clinton has nothing to do w/ Deutsche Bank. US Futs basically flat.
Items you need to consider today...
if #OPEC OKs #Libya +1.2mbd, #Nigeria +450kbd, #Iran +500kbd, to reach market share, that adds ~2.15mbd over current oversupply. #funfacts
Crude: -0.752mmbl Distillates: -0.343mmbbl Gasoline: -3.7mmbbl Cushing: -0.832mmbbl
Venezuelan Oil Minister Del Pino on future for oil prices w/o action on production freeze or cut.
Saudi oil minister says not expecting agreement at Wednesday's talks
After Doubts, Economists Find China Kills US Factory Jobs http://bloom.bg/1BmHSq8 After China got WTO tariff reductions exports soared to US
Chart of Doom: #Italy's banks have fared worst this year, even in comparison w/ Deutsche Bank. Banco Popolare has lost 79%, UniCredit -60%.
German debt now negative out to 15 years. Note extreme flight to safety underway...
DB Chief Cryan once again rules out Rights Offering...let's see how stock , debt and CDS react Wednesday.
So , just how long until we find out who comprises these nefarious "zombie banks" , unworthy of state support ?
Comments from Bill Baer ( DOJ's Assistant Attorney General for Antitrust ) , help DB shares go from red to green.
Citi is probably correct , but support at 10 ( Xetra) looks like it will hold today.
DB under pressure again. Stock price creeping toward single digits , sub and senior CDS keeps rising.
German Bank bond pulled , DB roiling banking sector in Europe.
#Italy | Monte Paschi di Siena subordinated bond - equity conversion seen limited at €2B -- Sole24Ore
#Germany | AUG IMPORT PRICE INDEX M/M: -0.2% V -0.1%E; Y/Y: -2.6% V -2.5%E
Industrial Orders In Italy absolutely crash to the floor In July ( both M/M & Y/Y.)
Siemens cutting 1700 German jobs ( cuts in German Process Industrial Unit.)
MENA News ....
Today in Ankara. Boris Johnson pledges Britain's support of Turkey's bid to become a member of the European Union. Oh, the irony...
Journalist Emre Soncan, who suffers from a critical kidney disease, is in the 60st day of his arrest. #TurkeyPurge
Turkey purge of alleged Gulenists continues...MIT ( Intel Agency ) hit today.
#Tobruk's democratically elected mayor requested that Nadori appoints a military Gov for #Tobruk - says municipal council failed to deliver.
LNA takes over more local municipal authorities that were democratically elected. No opposition to these controversial moves. #Libya
Saleh continues to say Interim Gov't , not GNA , is the legitimate Authority. Reconciliation going to be difficult.
The deputy general manager of the Libyan Foreign Bank , Amr Alhgag , has been kidnapped in Tripoli.
No #USA boots on the ground? Oh yes. Plenty in North of #Syria: Supporting #Turkey to hit #Kurds & supporting #Kurds 2hit #ISIS. Simple no?
#USA credibility at stake? Yes, but, Who cares anyway? Deal is behind us now. Another deal ahead.