Tuesday, October 18, 2016

Economic News , Data & Views..... October 18 , 2016......Quick Hits For Tuesday 1) Markets & Market Moving News : Asia Items Of Note ( Wednesday - Updated As Available ) , US Markets In Focus - Stocks Indexes Advance , Europe & Asia Stock Indexes Advance On Tuesday , Oil Rebounds Off Of Several Losing Sessions , Bonds Also Stronger Today ; Oil Patch News De Jour ; Additional Items Of Interest. 2) Across The Horn - Europe : Greece News For Tuesday ; EU-Turkey Migrant Deal Items ; Italy Referendum Items ; Security Concerns In The EU ; Spanish Politics ; Further Items Of Interest. 3) MENA Report- Developments In Libya , Iraq & Syria. 4) Odds & Ends.



Markets.....






( Asia Wednesday Items Of Note )






CH Industrial Production (YoY) Sep: 6.10% (est 6.40%, prev 6.30%) CH Industrial Production (YtD) (YoY) Sep: 6.0% (est 6.10%, prev 6.00%)







CH Retail Sales (YoY) Sep: 10.70% (est 10.70%, prev 10.60%) CH Retail Sales (YtD) (YoY) Sep: 10.40% (est 10.30%, prev 10.30%)







CH GDP SA (QoQ)Q3: 1.80% (est 1.80%, prev 1.80%) CH GDP (YoY) Q3: 6.70% (est 6.70%, prev 6.70%)






Japan finance minister Aso says need to raise wages to escape deflation





What drives China's growth? Exports (while a key source of employment) has never been a massive pillar of the economy.








China Injects Economy With A Quarter Trillion In Debt In One Month, But The Full Story Is Even Worse








Schematic of China shadow banking







China credit growth: with and without govt bonds and shadow banking









China's real debt/GDP: 275%









Tuesday Items...





Another day around the way..








DOW JONES UNOFFICIALLY CLOSES UP 73.73 POINTS, OR 0.41 PERCENT, AT 18,160.13







S&P 500 UNOFFICIALLY CLOSES UP 13.22 POINTS, OR 0.62 PERCENT, AT 2,139.72








NASDAQ UNOFFICIALLY CLOSES UP 43.50 POINTS, OR 0.84 PERCENT, AT 5,243.32






Good morning from Berlin. Asia risk markets rise on weaker Dollar and firmer oil amid speculation US mon pol will remain accommodative.









Asia on Tuesday: Equities up; Philippines leads USD lower Commodities mostly up, palm oil going nuts again Bonds mixed; Taiwan's get whacked










Chinese holdings of US Treasuries fall to lowest since 2012








| Gazprom Neft says while it could slow crude prod if needed, would be uneasy step as it is planning to raise output. reuters.







| energy minister Novak to meet 's minister al-Falih this saturday & sunday. TASS.






| OPEC WILL USE SECONDARY SOURCES FOR ALGIERS DEAL, BARKINDO SAYS - BBG







Russia NOT Involved in production cut discussions. Russia is involved in production FREEZE talks. OPEC SecGen should get this straight.








ICYMI | min al-Saleh: optimistic that "at least" a production "understanding" would be reached by producers in Nov. RTRS.









Around The Horn - Europe...





Greece to play "austerity now and always , debt relief somewhere down the road" game -until the cows come home.









Judges uphold TV appeals against auction, slam ‘fascist’ tactics







Tourism SMEs under threat from taxation






EU official warns of jihadist influx








Turkey allegedly giving EU until end 9f the year to institute visa free travel or the migrant deal may be off..








Just minor disasters?







Looks like complacency fuelled by ECB's QE: Investors’ referendum fears over yields seen overblown.










Agree w/ German Interior Minister-concern about terror attacks should already be considered a clear & present danger













: Left-Leaning Parties Explore Common Ground ahead of next years federal election.








My comments on the new EU border guard: problematic that it can intervene in EU countries also when not invited









PSOE faces tough political call Sunday...








🔴BREAKING: The European Union has postponed a final decision on the CETA trade agreement with Canada, due to issues convincing member states








Germany, INSA poll: CDU/CSU-EPP: 30% SPD-S&D: 22% AfD-ENF: 14% ↓ LINKE-LEFT: 13% ↑ GRÜNE-G/EFA: 12% ↑ FDP-ALDE 7%







Italy, Constitutional Referendum, EMG poll: Yes: 48% (+1) No: 52% (-1)









Portugal plans to remove NPLs from balance sheets of the country’s banks, including possibility of a bad bank financed by private sector.









MENA - Iraq , Libya & Syria.....





Libya....






Flashing red lights- if accurate..








Ops Room strongly condemns takeover of Tripoli HQs, calling it a coup against the LPA & legitimate authorities









Mohamed Ghasri (BM spox): We are ready to fight, with all our strength, anyone who seeks to create chaos in Tripoli & undermine the state








No attempt has been made to arrest the coup members and this is the third day of the coup now.






Iraq....






Iraq PM Abadi: Preventing militants from escaping to is our main task







Peshmerga on sinjar frontline say they have seen ISIS escaping towards syria using ba'aj - raqqa road.







BREAKING: Safe exit routes from Mosul have been secured for civilians - Iraqi prime minister










"Outside powers" tried to negotiate the evacuation of ISIS cells to Syria. The Iraqi Air Force had different ideas.










Syria......







Syria rebels reject Aleppo withdrawal after Russian statement







ISIS won't return as before but will adopt hit-and-run tactics. History won't repeat itself in Iraq. ISIS Syria is a problem







said "a large convoy of leaving and heading toward was destroyed by /i Air Force".








YPG militia will be removed from Manbij after ISIS is driven from Al-Bab, Turkish President Tayyip Erdogan said Tuesday.







FWIW - Several rebel commanders (1 senior commander from Jabhet Fateh al-Sham) taken out by drone strike on vehicles in Idlib, as per SOHR.









Odds & Ends....






KSA Alert - Riyadh Bank and National Industrial Co in the news..











If any Saudi Princes are getting restless , a shot across the bow to stay in your lane !








Saudis set to launch first international bond sale on Wednesday. Could raise as much as $15bn. via








NEW DEAL: SAUDI ARABIA 5Y +160A, 10Y +185A, 30Y +235A








Tragic death and outrageous act , this brave Judge had many enemies among various Cartels and not just El Chapo.










In a premonitory message to her ill mother, Génesis Urrutia recorded the following statement: “Death has no age.” Especially in Veracruz.












PDVSA extends $5.3bn bond swap for a third time after poor take-up, warns on paying debt if unsuccessful







"Wall" of taco trucks to line up at Trump's Las Vegas hotel in protest



















admits it cut off 's internet access at its U.K. Embassy after published "documents impacting "








Fires destroy millions of dollars in equipment at Dakota Access Pipeline









SMH..









No place in politics or society for firebombing. Kudos to those concerned Democrats who did the right thing here.












Head of jurists union says Gulen-linked inmates undergone surgeries due to rampant rape while under arrest









Pro-government circles have started circulating this map.













Erdogan keeps repeating Misak-ı Milli (National Oath) when speaking about Mosul operation. Here is Turkey's borders according to the oath.