Tuesday, September 6, 2016

Economic News , Data & Views ..... September 6 , 2016..... Quick Hits For Tuesday 1. Markets & Market Moving News : US , Europe And Asia Stocks Have A Somewhat Mixed Tuesday ; Bonds & Precious Metals Catch A Bid Off Weak US Data ; Distortions Observable I Corporate & Sovereign Bond Markets. 2. Around The Horn In Europe - Greece , Italy , Spain , Germany & UK In Focus. 3. MENA Updates.



Markets.......






"False" Economy Wake-Up Call Sparks Safe-Haven Surge In Bonds, Silver... & FANG Stocks









The Nasdaq closed today at a record high






U.S. stocks end higher after ISM services report







Clouds gathering on U.S. economy? ISM surveys seems to say so







FOURTEEN COMPANIES LAUNCH US$22.575BN OF BONDS, MARKING FOURTH BUSIEST DAY BY VOLUME IN 2016








What the ECB has done to bond spreads






(1) | AUG ISM NON-MANUFACTURING COMPOSITE: 51.4 V 55.0E (lowest since Feb 2010) -









IBD/TIPP economic optimism index 46.7, est. range 47.5 - 48.5, Last 48.4







Fed interest rate probabilities plummet -under 50% through March 2017 !









Frontrunning: September 6








Around The Horn In Europe ....




Greece....




Greece overhauling migrant center planning, with new facility for minors to open next week, as Lesvos seeks help.







Greece on edge over spike in migrant arrivals as Germany pushes for returns amid growing far-right backlash.








Reforms to be completed by early October, Greek officials say as seeks to build an anti-austerity front.






Greek PM Tells EU Council That Growth and Employment Need to be Promoted in Greece






VAT Gap: Greece Lost 5 Bln Euros in Uncollected VAT Revenue






State Takings Fall Short of Targets: Is Property Tax to Blame?







Greek Banks Get Back 800 Million Euros in Deposits





Initially published May 2016. Great charts & Greece creditor repayment schedule from June 2016 through December 2020.








With IMF payments of only 306 ML(Sept 6) , 149ML (Sept 18) & 306 ML(Dec 6) , probably no crisis for 2016.









revenue outperformance in Aug on a comparable basis, but payment crucial on meeting revenue targets.








Italy.....







PM Renzi pushed out the referendum a few weeks. Is now due between 11/15 and 12/5.







Renzi Reiterates Would Step Down If Loses Referendum: Ansa







Good news, but look at the surge in crossings to Italy









Italy wants a European Unemployment Benefit Scheme (EUBS) as a buffer to replace some of dirty work of exchange rate








Spain.....






Probably an indication that Spanish Banks are still badly ailing , if they can't repay the bailout.









LATEST: Constitutional Court Throws Out Otegi's Appeal Against Basque Election Ban







LATEST: Rajoy And Sánchez Get Nowhere In 10 Minute Phone Call





Germany.....







"Economically, we've never had it so good" - Germany's budget for 2017 is revealed









Sanofi joins Henkel in selling NIRP bonds.









Great piece - UK and Germany in focus.









UK......






Welfare cuts push millions in the UK into poverty










EU nationals living in UK 'cannot be identified' - BBC News








The UK just advised its citizens not to criticise UAE on social media


















Credit Suisse, Morgan Stanley hike UK growth fcsts CS: 2016 +1.9%, frm +1% 2017 +1% frm -0.5% MS: 2016 +1.9%, frm +1.2%, 2017 +0.6% frm 0.5%






MENA......




Saudia Arabia....






BREAKING: If oil producing countries agree a freeze then Saudi Arabia will go along with it - Saudi foreign minister







Saudis review thousands of contract. Potential cancelation of up to 20 BN in projects trumping rumors today.
















Turkey....






Turkey's deputy prime minister sees "no evidence" of U.S. involvement in July 15 coup plot.












Turkish officials sieze recording of interview with minister following questions on media arrests











Turkey’s central bank lowered reserve rules for the third time since the coup attempt








Turkey puts EU on notice it could drop talks with EU -due to popular pressure and double standard of EU.










With Syria 'safe zone' plan, Turkey faces diplomatic balancing act











Libya......






























Deputy GNA PM Ali al-Gitrani officially announced his return to the Presidency Council meetings








forces discover docs revealing individuals who sold weapons, SUVs to in











Hafter: Resources to liberate Sirte not even a drop in the bucket when compared to Benghazi











Haftar: Benghazi not only city affected by terrorists, army to continue until all are purged











Syria.....





As per the pre-planned sequenced strategy: -backed FSA has declared -held Al-Bab area a military zone.







Asked abt Erdogan remarks that Turkey backed FSA forces can go in Menbij now that YPG left, US spox: local people will administer it now.







Source: Expect to escalate in in the next few months if deal with the is not reached.





Source: is working in harmony with in .







LIVE — No agreement about YPG between Turkey and U.S., Presidential Spokesperson Kalın says



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