Thursday, October 20, 2016

Economic News , Data & Views ...... October 20 , 2016...... Quick Hits For Thursday 1) Markets & Market Moving News : US Stocks Drop Moderately , In Contrast Europe And Asia Had Green Days For Its Stock Indexes ; FX News For Wednesday ; Bond News De Jour ; Oil Patch Items. 2) Around The Horn - Europe : ECB Highlights ; EUCO Summit ( First Day ) - CETA Drama Continues , Theresa May Attends EUCO First Summit , Syria & Russia Sanctions On Agenda ; Additional Items Of Note Touching On Europe. 3) Odds & Ends - US Election , Iraq , Syria , Libya & More.



Markets & Market Moving News....




Asian Friday -  10/21 Item




Boom *CHINA SETS YUAN REFERENCE RATE AT 6.7558 AGAINST U.S. DOLLAR VS 6.7311






PBOC injects 95.5bn yuan this week vs net drain of 415bn last week







PBOC to inject 160bn yuan via 7-day (70bn), 14-day (40bn) and 28-day (50bn) reverse repos






Kuroda: BoJ could ease long-end buying if 10yr yields fall below target








21 minutes ago
JUST IN: Hong Kong Exchanges cancel morning trading session (no northbound trading to Shanghai as well) as typhoon signal 8 remains in place








Offshore yuan sinking & just broke through the 6.75 level against the dollar. Take note Hong Kong shut so far so liquidity thin.









BoJ's Kuroda: Some BoJ participants wanted a steeper yield curve








BoJ's Kuroda: BoJ will look at appropriate yield curve at every policy meeting











10/20 Items....




DOW JONES UNOFFICIALLY CLOSES DOWN 40.82 POINTS, OR 0.22 PERCENT, AT 18,161.80








S&P 500 UNOFFICIALLY CLOSES DOWN 3.12 POINTS, OR 0.15 PERCENT, AT 2,141.17








NASDAQ UNOFFICIALLY CLOSES DOWN 4.89 POINTS, OR 0.09 PERCENT, AT 5,241.52







US major indices end the day down a touch







Morning report , what's moving things this morning..










Forexlive Americas FX news wrap: Dollar surges. Helped by Draghi







US crude oil futures settle at $50.43 per barrel





| crude exports to rise by 130kbd to 23.86mbd by early Nov. (excludes Ecuador, Angola, Indonesia, Gabon). BBG.










Spain shines at the European close







Nigeria cuts oil prices in order to regain market share amid "huge cargo overhang" in the market









Forexlive European FX news wrap: Ready to rock with Draghi










Good morning from Berlin. Asia stocks rose w/ US futures as final presidential debate was seen strengthening Clinton’s prospects of winning.






Around The Horn - Europe





's Draghi concluded presser 15 mins earlier. Didn't discuss tapering, didn't discuss extending QE. What did they do in the last 24hrs?







's Draghi: Bail-in rules flexible enough for variopus scenarios.







keeps asset-purchase program at €80bn/month. Says QE will run through Mar2017 or beyond if needed.






keeps rates at record low. Main refi rate at 0%, Deposit rate at -0.4%.








Fortunately not all people & parties in Wallonia object . Unfortunately the parties that have the majority do... .








After another rejection, plans to negotiate terms directly with Canada









govt rejects proposal on EU-Canada Treaty







Thank you . Please keep your back straight under the pressure. Long live Wallonia!










Like David versus Goliath, Wallonia balks at CETA








EU may have come up with some type of "work around" for Begium's Wallonia Region , which may allow CETA greenlight.









Schaeuble says shared liability in Eurozone only possible if rules can be enforced or members to shift national powers to supra level. (BBG)











German FinMin Schaeuble: ’s current problem is not too much debt, but a lack of competitiveness. (Measured by ULC Italy is worse off)







ECB Draghi: First analysis of Greek debt sustainability, then QE









Tusk on terrifically gloomy form: CETA could be last trade deal, warns Russia on sanctions, says May 'will be safe with us'







Theresa May's EU summit doorstep







Matteo Renzi stated he did not think “that the difficult situation in Syria could be solved by additional sanctions on Russia”.









T.May aims at Russia instead of Brexit in first doorstep - urges 'robust and united' EU actions on 'sickening atrocities' in Syria










EU summit's latest draft conclusions with possible sanctions against 'individuals and entities supporting the (Syrian) regime'







UK BREXIT MINISTER DAVIS SAYS WE WILL DO ANYTHING NECESSARY TO ENSURE FINANCIAL SECTOR STABILITY







UK BREXIT MINISTER DAVIS SAYS ARTICLE 50 IMPLIES PARALLEL NEGOTIATION ON EU EXIT AND FUTURE RELATIONSHIP








ITALY TREASURY OFFICIAL SAYS MARKET-BASED RECAPITALIZATION PLAN FOR MONTE DEI PASCHI WILL BE IMPLEMENTED IN COMING MONTHS







Odds & Ends.....





BREAKING: Moscow extends ceasefire by 24 hours as rebels say "we will not accept any Russian conditions"









The answer came quickly from inside E. Aleppo: Snipers and rockets fired.










High-level meeting for the stabilization of Mosul – Co-chairs’ conclusions (October 20, 2016)







Yeah , well you knew US was going to have boots on the ground....











U.S. STATE DEPARTMENT SAYS IT WILL SEEK EXPLANATION FROM PHILIPPINES ABOUT WHAT DUTERTE MEANT ABOUT 'SEPARATION' FROM U.S.








That is the perogative for either Candidate.












Democratic operatives leave campaign effort after video that described baiting violence










Donald Trump needs ALL FOUR of these to win: 1. All Romney states (NC, GA, AZ, UT) 2. Ohio 3. Florida 4. Pennsylvania -or- IA+NV+NH+ME-2







Some details to some activities of arrested hacker...










What makes this strange , was the exact opposite position was taken the day before by the Campaign....









Recap for those who missed it , one pov....










Just back from Ras Lanuf in Oil Crescent: sight of oil storage tanks destroyed in 2015 (shuruq) and 2016 (ISIS) is heartbreaking
















Despite the flood of imported currency, banks turn away customers for a lack of (mysteriously disappearing) cash.








Odd unless the concern of Sebha CB is that East currency is a counterfeit currency.









That was not smart at all...and the East will not be pleased.