Wednesday, September 21, 2016

Economic News , Data & Views......September 21 , 2016....... Quick Hits For Wednesday- 1. Markets & Market Moving News : BoJ Underwhelms Markets , FOMC Gives Bull Cause For Celebration As Traders Ignore Rate Hike threats From The Fed ; US , Europe & Asia Market Action. 2. Around The Horn - Europe In Focus - Italy , General EU/ECB Items , Germany , Greece , UK In Focus 3. Odds & Ends !


Markets.......







Here we go...










FOMC: "...decided, for the time being, to wait for further evidence of continued progress toward its objections."







FOMC downgrades outlook for 2016 real GDP to 1.8% from June's 2%. Core PCE inflation outlook remains at 1.7% this year.







FOMC econ projections also look for slightly higher unemployment rate this year at 4.8%, up 0.1% from June.








Federal funds rate median forecast put at 0.6% for 2016, DN from 0.9% in June. 2017 put at 1.1%, DN from 1.6% in June. 2019 put at 2.6%.









Stocks Explode Higher After Fed Cuts US Growth Potential To Lowest On Record





Is Yellen Worried That She Is Causing Asset Bubbles? Here Is What She Said










Fed does as expected..











Yellen opening statement: Most measures of labor market slack have showed little change








December 2014 vs Sept 2016 dots










Center stage for FOMC..









Over nite in Asia , morning items for Europe and Wall Street preview..










"Yield Curve Control ".... sounds like a Prince song , let's see how it pans out as a policy...










This chart explains BoJ decision: In steepening the yield curve, Kuroda wants to prop up banks as banks strongly correlated w/ yield curve.










At least January's move by the BoJ to take rates negative lasted three days... this morning the move lasted 3-hrs!









*BOJ ADOPTS INFLATION-OVERSHOOTING COMMITMENT *BOJ ETF BUYS TO REMAIN AT 5.7T YEN *BOJ TO START FIXED-RATE PURCHASE OPERATIONS








*BANK OF JAPAN TAKES ADDITIONAL ACTION, INTRODUCE QQE WITH YIELD CURVE CONTROL *BOJ TO BUY JGBS SO 10YR YIELDS REMAIN AROUND CURRENT LEVEL










Around The Horn - Europe.....






Any downward pressure on ’s rating would come from fewer reforms or higher prospect for debt, Moody's Carlson says. (BBG)










Flat yield curve key reason for persistent decline in bank earnings. Since 2014 Stoxx Banks have been downgraded by 46%. (via CBK)










Austerity Only Benefits and Destroys Europe, 's Renzi Says









Good morning from Berlin on a key CenBank decision day. Asia mkts rise after BoJ maintains policy rate at -0.1% but introduces other actions











 

foreign secretary: No plans to visit until stops support











Thursday's Guardian: UK economy defies gloom after EU shock










UK’s private banks shrug off Brexit fears









The Brexit bounce continues - ten forecasters up their predictions for 2016 growth.










Amygdaleza annex to host departing migrants









Parl't approves Elliniko but vote shows gov't opposition to project








Parliament approved with wide majority (6 parties) the share purchase agreement for Hellenikon (former Athens airport).









Notable drop in spending by foreign tourists









Report says public hospitals lack staff, medical equipment









Greece finds shelter for Lesvos migrants after fire









Greece rejects asylum requests by three Turkish soldiers










Greece rejects asylum requests by three Turkish soldiers









White House supports ongoing Greek reforms, debt relief discussions, Cyprus solution in 2016








EU scraps limit on free mobile roaming plan, says commissioner









Multi bill with prior actions may be tabled in Parliament on Thu, 1-2, acc to MoF source (via )










Ten Turkish citizens seek asylum on Rhodes








Ten Turkish citizens seek asylum on Rhodes











Ferries to strike Thursday, Friday









Monthly evolution of key budget items - revenues, primary expenditure & balance.











VAT revenues beat target by 9.9% in Aug and by 3% in 8-month, acc to MoF souces cited by local media.









EU Commissioner Avramopoulos on Migration: A European Issue Becomes a Global Issue [video]








Vessel to Arrive on Lesvos to Accommodate Migrants Following Blaze at Moria Camp












US VP Biden Meets with Greek PM Tsipras - Full HD: via










budget primary surplus of 3.8 bln to Aug beats target by wide margin











State Land Usurped: 8 in 10 Public Properties in Attica Claimed by Citizens








Odds & Ends......








There's a storm coming in......




















News 3 mins ago 4:16 a.m. State of emergency in Charlotte amid 2nd night of violent protests








We are officially evacuating all of our FOX crews from uptown Charlotte. National Guard en route, SWAT sent out, protests escalating.









People in the crowd moved to shield a man on the ground in Charlotte after he was shot during protests









City of Charlotte issues correction, says civilian shot during protests not deceased