Tuesday, October 11, 2016

Economic News , Data & Views ....... October 11 , 2016 - Tuesday Items To Consider 1) Markets & Market Moving News : US Stocks Sell Off Hard Today ; Jobs Allegedly Increase For The Last 78 of 79 Last Months In Food Service & Dining ( Just Don't Mention That To 2,100 Yum Workers Losing Their Jobs ) ; Oil Finally Rolls Over After Relentlessly Rising For Days ( Falling Global Demand Noticed ) Despite Ongoing Jibber Jabber On Production Freeze ; Europe & Asia News And Market Action. 2) Europe In Focus : Greece Round Up For Tuesday ; Germany - Deutsche Bank News De Jour , Political News - Not Good Polling #s For CDU/CSU Additional Items Of Note ; Spain Blows It Again - Another Likely Budget Deficit For 2017 Possibly 4.2 % , Political News To Consider ; Russia Items - Oil Related News , Putin Cancels Visit To France After Hollande Accuses Russia Of Committing War Crimes In Syria. 3) Odds & Ends - Syria , Libya , Hurricane Matthew , US Politics , Italian Polls Of Note



Markets & Market Moving News....






Another day around the way..








Just another day around the way...









DOW JONES UNOFFICIALLY CLOSES DOWN 197.54 POINTS, OR 1.08 PERCENT, AT 18,131.50








NASDAQ UNOFFICIALLY CLOSES DOWN 81.57 POINTS, OR 1.53 PERCENT, AT 5,247.10







S&P 500 UNOFFICIALLY CLOSES DOWN 26.81 POINTS, OR 1.24 PERCENT, AT 2,136.85









Pound and Rand two big currency stories for the day...












Good morning from Berlin. Asia mkts mostly higher as oil buoys risk sentiment. Samsung drove declines in S. Korea after stop selling Note7.









U.S. TREASURY PRICES PARE LOSSES, 30-YEAR YIELDS FALL BELOW 2.5 PERCENT, 10-YEAR YIELDS FALL BELOW 1.76 PERCENT









YUM to Cut 2,100 Corp. Restaurant Jobs by End of 2018. There goes the only growth dynamo of the "recovery"








jobs for waiters and bartenders have increased in 78 out of the past 79 months.








China’s Oil Demand Growth Vanishes in 3Q as U.S. Also Slows: IEA. At least OPEC production is record high









Platts China Oil Analytics: China Oil Demand Fell 2.7% Year over Year in May






Instant classic tweet...


















following are the 5 lines purportedly affected (not all confirmed):







Oil has been rising for a month solely due to OPEC members supporting each other's intention to support arranging meetings to support prices








OPEC SEC-GEN SAYS OPEC/NON-OPEC HIGH COMMITTEE MAY ALSO MEET AGAIN IN NOV IF DOESN'T FINISH ALL ISSUES IN OCT (and again in dec, jan&feb ;))







| PRODUCERS TO MEET AT 2PM-4PM IN ISTANBUL WEDS: BARKINDO - BBG *BARKINDO: LIBYA, IRAN, NIGERIA TO BE SEPARATE FROM OPEC ACCORD







60 oil means oil shale in North American taken offline , comes back online - which would moot any so called OPEC oil freeze...










Around The Horn - Europe.....



Greece......






Appointment of state assets fund council








Notaries to walkout Wednesday, calling for gov't action on repossessions








IOBE: Growth in 2017 not over 2 pct









Fitch notes slow progress in reforms










says deadline for submission of binding offers for stake of 24% in extended until Oct 19.










rejected asylum requests of 4 more Turkish soldiers who fled 2 country aft failed coup. Now 7 ouf of 8 requests have been rejected










ECB's Stournaras: Greece Cannot Access Financial Markets Until 2nd Review Is Concluded - RTRS










 
75% of ’s €328bn govt debt owned by official sector w/ EFSF, ESM, IMF & bilateral loans at €226bn, while ECB held <€19.5bn (Barclays)









Germany......







Deutsche Bank tries to message the credit market but sends the wrong one








DEUTSCHE BANK TAPS 5-YEAR BOND FOR US$1.5BN. Just 3 days after selling $3bn in debt







Nothing to see here...









Ravi Raju, Deutsche Bank Asia Pacific wealth management chief, quits for UBS in bank's latest hemorrhaging










Why did the ECB bend the rules for Deutsche Bank?










Deutsche Bank shakes up investment bank to regain lost ground









A Bank of England official has slammed European peers for giving Deutsche Bank special treatment during stress tests










MERKEL SAID TO WARN BUSINESSES NOT TO OPPOSE EU BREXIT LINE







| ZEW SAYS GERMAN BANKS CURRENTLY BURDEN ON ECONOMIC OUTLOOK - BBG







New INSA/Bild Poll voter intentions: Merkel's CDU/CSU drops to its lowest ever showing at 29.5% - as per










Spain.....









LATEST: King Announces New Round Of Talks With Parties On October 24-25









NEW ROYAL TALKS: Speaker: no date for third confidence vote in unknown candidate.









LUXEMBOURG - GERMANY'S SCHAEUBLE SAYS SUSPENSION CAN BE AVOIDED IF COUNTRIES FULFILL THEIR OBLIGATIONS








LUXEMBOURG - GERMANY'S SCHAEUBLE SAYS MUST TAKE DECISION BY DECEMBER ON SUSPENSION OF STRUCTURAL FUNDS FOR SPAIN, PORTUGAL








Spain looks like its deficit will be 4.2% of GDP in 2017..







Russia......







Putin cancels Paris visit set for October 19th...







Russia says instead of cutting production it prefers to freeze oil output at current post-Soviet record levels of 11.2 million barrels a day








Looks like someone's been on the phone to Rosneft about earlier comments









Sounds bullish for oil to me ! Lol









Rosneft not capping production ( despite Putin promises to cooperate with OPEC.)








Rosneft CEO is skeptical about a global crude production freeze or cut - Why should we do it ? " said Rosneft CEO Igor Sechin to Reuters.












Novak: Russia will air its proposal only after OPEC reaches its own final agreement.







Odds & Ends





North and South Carolina Flooding - Post - Hurricane Matthew....






projo: N.C. braces for more flooding in downstream towns









A lot of major flooding continues across eastern NC. The Neuse River at Goldsboro and Tar River at Tarboro are expected to crest today.


















There have been at least 18 confirmed weather-related fatalities in North Carolina following :






WOW! Perspective on the CATASTROPHIC flooding from . Cape Fear River Before/After in Fayettevile. Thank you Alana W Hix!









Lumber River in Lumberton has exceed the record flooding from 2004, but forecasts do have a decent beginning today:









More than 400,000 remain without power in South Carolina as the result of :










Turkey.....







Deputy PM: Turkey will remain in its Bashiqa base in northern Iraq as long as it "is needed there"









PURGE IN PAST 24 HOURS: 108 arrested, 113 others detained over coup charges || 









No court decision but professors are fired, stripped of all titles and affiliations and banned from applying to a public job again.









A Turkish professor was beaten in a prison so bad that he cannot even count money to buy drink.










Parents, both academics, arrested in post-coup crackdown in Turkey. 80 years old grandma is taking care of kids








This Turkish academic has a father with terminal cancer. A pregnant wife. Two disabled sisters. And he is in prison.







This is absolutely shocking. 1 million people in total have been affected by emergency decrees in . They have no future.








Turkey Won’t Ever Join EU, Austrian Foreign Minister Tells Welt








Syria.....






This could be the thing that hands Aleppo to Assad










Ahrar al-Sham official spokesperson says that "Jund al-Aqsa" fighters attacked one of AaS bases in Idlib despite declaring allegiance to JFS





Libya....






's former ambassador to the UN, , on the international doublespeak regarding the PC/GNA appointed by disgraced UN envoy Leon




















Gangland assassination: Acting head of 's Civil Registry Authority shot yesterday in Tripoli, died today








US Politics....






JUST IN: Trump goes nuclear on Ryan: 'I don't want his support'









House Judiciary Committee Calls For Inspector General Probe Into FBI "Special Treatment Of Clinton Insiders"








House Judiciary Committee accuses FBI of allowing "political considerations to hijack the criminal process"









US response to Russian hacking of DNC & others will be "proportional" & it is unlikely that it’ll be announced in advance, says









New NBC/WSJ polling: September: Clinton +6 After Trump video: Clinton +11 After debate: Clinton +7 Combined Sat-Sun-Mon: Clinton +9









Media yawns. Democrats look the other way. GOP political hacks wring their hands more vigorously over -Gate.























“The Apprentice” Microphone Guy Says Trump Repeatedly Called Him A “Fucking Monkey”





Duterte....








Duterte readies huge business delegation for Beijing visit as pivot from Washington gathers pace







Duterte continues dancing with China & Russia , as well as "dissing" US & Obama..






Italian Polls....






Italy, EMG poll: PD-S&D: 31% M5S-EFDD: 30% LN-ENF: 13% FI-EPP: 11% FdI-NI: 4% SI-LEFT: 4% NCD/UDC-EPP: 3% ↓









Italy, Constitutional Referendum, Ixé poll: Yes: 51% (-2) No: 49% (+2)










Italy, Constitutional Referendum, EMG poll: Yes: 47% (nc) No: 53% (nc)