Thursday, September 29, 2016

Economic News , Data & Views .....September 29 , 2016........ Quick Hits For Thursday - 1) Markets & Market Moving News : Japan - BoJ Lowers JGB 5yr -10yr Purchases From 430bn Yen To 410 Bn Yen , Additional News Of Note , Japan Data Splash ( Industrial Production , CPI , Jobless Rate , Consumer Household Spending) ; Asia ( TH ) , Europe & US Stock Market News , News Of the Day Moving Stocks/ Bonds/FX & Commodities ; Additional Items Of Note. 2) Troubled Banks Lead US Markets Sharply down , Despite Buoyant Asian & Lukewarm European Markets ; 3) Odds & Ends - US Today Pans Trump , Turkey Purge Items , Saudi Items Of Note , Libya Matters For Today , Hanjin Shipping Item , India-Pakistan Tensions Rising , PSOE Political Drama , Additional Items !


Markets......
























Leader of Japan's main opposition party clashes with Prime Minister Abe and calls monetary policy a failure








BOJ Governor Kuroda on challenges for central banks: "It wouldn't be half so interesting if we knew all about everything"






tapering: BOJ Lowers JGB 5y-10y Purchases to 410b Yen From 430b Yen Prior






BOJ: UNCERTAIN IF PACE OF JGB BUYS WILL SLOW DOWN UNDER YCC. So it may or may not be tapering





Japan Industrial Production (MoM) Aug P: 1.5% (est. 0.50%, prev. -0.40%), (YoY) Aug P: 4.6% (est. 3.40%, prev. -4.20%)





Japan National CPI (YoY) Aug: -0.5% (est. -0.50%, prev. -0.40%) -National CPI Ex-Fresh Food (YoY) Aug: -0.5% (est. -0.40%, prev. -0.50%)





Japan National CPI Ex-Food, Energy (YoY) Aug: 0.2% (est. 0.20%, prev. 0.30%)






Japan Jobless Rate Aug: 3.1% (est. 3.00%, prev. 3.00%) -Job-To-Applicant Ratio Aug: 1.37 (est. 1.37, prev. 1.37)






Japan Overall Household Spending (YoY) Aug: -4.6% (est. -2.10%, prev. -0.50%)







Credit Suisse chief Tidjane Thiam warns European banks fragile via









Assessing liquidity situation of DB...








What kills DB is a retail depositor bank run. Cryan has to do everything to prevent this






Gotta goose the market , it was looking grim today....








Yesterday: Janet Yellen On The Fed Buying Stocks: "Maybe In The Future, Down The Line..."















The Dow closed down nearly 200 points on Deutsche Bank and Fed concerns









US WRAP: Deutsche Bank concerns sour risk mood. ECB's Nowotny says Europe is not facing a new banking crisis. And more Fed. Yellen next.








Asia overnight , Europe morning & Wall Street preview....







Good morning from Berlin. Asia stocks rise as surprise Opec deal boosted & spurred demand for riskier assets though gains seen fizzling






Banks













Goldman: "Deutsche Bank concerns pose significant tactical risk to our overweight banks "







Hard day for big Banks...











Just a flesh wound..











This !











Deutsche Bank senior paper in free fall. 2019 eur denominated bond +100 bp in 2 weeks. Wonder if the ECB holds it.








DB troubles mount. Money pulled hedge fund a trickle so far. Watch and see whether other counterparts back off.








DB Coco bonds convert at 10 euros. Not that far away , really just another bad day away.










Credit Suisse ADR shares -4.49%








Maxine Waters says she's moving forward to break up Wells Fargo Bank...








DB ADR in NY down almost 7 %...








Well , look at this item !








Things getting worse , Central Banks may need to help re:dollar shortages.








Saudis in crisis and panic underway. This is a number of things -low oil prices , low key for now protests & JASTA.







Looks like Lehman Bros to me..









Second biggest bank has major shipping loan exposure , cutting 10,000 jobs plus the dividend - not end of pain.








Panic in the Kingdom: Saudi's largest bank hits record low, brokers cite loss of faith 2030 reform, defaults, poss new inc tax, 9/11 bill.







Odds & Ends.....






Republicans put themselves "in the awkward position of blaming the president for a bill they enacted into law over Obama’s veto."








Not a good sign...








Turkey shut down additional 23 media outlets, including 11 TV channels. Total number of media outlets shuttered since July 20 rises to 154.








Kurdish and Alevi TV channels closed on Wednesday evening by the Turkish government







Saudis warns US of disastrous consequences over JASTA...








An absolute disgrace. Saudi Company trying to completely stiff unpaid workers !










Saudi Riyal spot rate- in other words the peg itself- increasingly unstable. At this point rational choice, if available, is capital flight.









Saudi banks have to reschedule consumer loans because the government slashed pay by 20%







Confirmed: 's soldiers came to by sea under darkness last week at Misrata, and more arrived by air last night. Approx 400 total






Naval op last wk landed 300 Italian military @ Misrata : 135 logistics, 100 paratroopers, 65 medical. More fr last night by air





's pretext for these military ops under cover of darkness: build an Italian military hospital in Misrata --as Sirte fight ends..








With Hanjin Shipping allegedly unable to operate going forward , might Mearsk scoop up the failing Company ?







India - Pakistan tensions on rise after India strike kills two Pakistan soldiers.







Gary Johnson is simply not a serious candidate...










PSOE political drama continues. Leadership contest going to be taken to grassroots of the party.







Paris to host meeting on next week. Countries attending include Egypt, Qatar, UAE and Turkey.








Greek dep foreign minister tells 99% of refugees arriving in Greece are claiming asylum compared to 3% before Turkey-EU deal in March.