Saturday, October 22, 2016

Economic News , Data & Views ...... October 22 , 2016......Quick hits for Saturday - 1) Markets & Market Moving News : Doug Noland's Weekly Overall Of Markets & Essay ; Global Stocks Gain 264 BL In Market Cap last Week ; Italy's Outlook Cut To Negative , Affirmed At BBB+ ; Cyprus Upgraded To BB- From B+ , Outlook Pos ; Portugal Confirmed AT BBB , Outlook Stable ( Still Qualifies For ECB QE AS Investment Grade Retained ) ; EZ Debt / GDP Dips Slightly - Now At 90.4% ( From 90.7% ) ; EUCO Summit Leftover ( Brexit / CETA / Russia Sanctions .) 2) Emergence Of Duterte In Philippines Has Changed Relationships Between Philippines and Nations such As US / China & Russia , America's Asia Pivot In Tatters As Futerte Seeks Closer ties With China & Russia. 3) MENA - Odds & Ends From Iraq , Libya & Syria.

Markets & Market Moving News.....

making the rounds.... again >> Due in Tehran for Talks

5 Day Relative Performance v (17-21 Oct)

Senior officials indicated they are prepared to ignore any order from Juncker as the growing war of words between Italy & EU escalated.

risk premium over keeps rising as Fitch has cut Italy outlook on political uncertainty, weak growth.

Fitch upgrade Cyprus to BB- from B+, Outlook pos, citing strong progress in adjustment after 2013 banking crisis.

DBRS confirms at BBB (Low), Stable trend as expected. Investment grade rating lets Portugal qualify for 's QE.

As if isn't enough, the EU may well hear from Dutch PM Rutte that the Netherlands won't ratify EU-Ukr Treaty

READ: writes for the FT on why MPs must

Well , I guess the French figured why not give that a go ?

CETA looks like it could come to pass - some time down the road , once the EU addresses the concerns of Wallonia.

Looks like EU will try to ram through trade deal despite Wallonia objections next week.

Looks like Talks are over for now between Wallonia & Canada...Remaining issues to be resolved w/i EU-Wallonia still looks for a bette deal.

Brexit can't come soon enough

Parliament speaker Schulz meeting with IntlTradeMin Freeland & PM Magnette in a new try to bridge differences on

In case you missed pleasant surprise: Eurozone Debt/GDP ratio revised lower for end of 2015 to 90.4% from 90.7; 1st drop since 2007 (via AP)

's long-suffering savers have real reason to complain. They haven't done very well from having money in bank

Good morning from Berlin. Global stocks gained $264bn in mkt cap this wk on global reflation trade. EZ periphery outperformed due to Banks.

Fitch cuts 's outlook to negative; affirms at 'BBB+', citing repeated backtracking of fiscal consolidation.

Renzi explains why sanctions against Russia were deemed not productive....

Italian Prime Minister Renzi blocks German/French/UK demand for tougher sanctions against Russia at EU summit.

is essential for jobs & growth - but it must be fair. defence instruments need updating:

European Council conclusions, 20-21 October 2016:

China-Philippines , US-Philippines , Russia -Philippines....

In light of China & Philippines ties become tighter - don't be surprised that Vietnam grasps which way winds blow.

Duterte step toward China , could very well be a huge game changer in South China Seas....

Russia attempts to draw Duterte close....

Dealing with Duterte - latest challenge for US in foreign policy...

How the Trump of the Philippines Just Sold Out His Country to China via

Philippines' Duterte says will not sever US ties after announcing 'realignment' to China

Rodrigo Duterte’s 1st meeting w/ Xi Jinping suggests bilateral rapprochement on range of issues

“Justifying Duterte — The War on Drugs and The China Strategy” by Finally the Philippines matters again👊🏽

Odds & Ends..... MENA


Many were very excited about attack in . It is over now. No more in the city. .

Following a meeting w/ sec of Defense Ashton Carter in , PM Haidar Abadi rejects any participation to ops

BREAKING: Iraqi official says Islamic State assault on Kirkuk killed at least 80 people, mostly security forces.

Erdogan: Our current borders are not something that we accepted voluntarily. Our founding fathers were actually born outside these borders.

: 'According to history belongs to us" says Turkish president Erdogan

- commander Abu Mahdi al-Muhandis arrives with large PMU reinforcements to establish security in from

ISIS war crimes in Mosul - on Mosul civilians....

After the "War Games" - when does reconstruction begin ? Whether Ramadi , much of Syria or Libya is considered , that's an open question .

Hawija is 20 miles from Kirkuk.

Images from Daquq, where Coalition aircraft airstrikes on Shiite women congregation resulted in at least 16 deaths.Many injured.


Interesting that elected officials think it is fine to hand over power to the military. Did they have some encouragement?

Something to take note of !


52 seconds ago
Kobler's response to the 'coup'

Italy dismisses claims by Zintani brigade of Italian troops in Jufra airbase as “absolute nonsense” -

Italy says it will not intervene militarily in Libya

“The only things that we can find in abundance are diseases and despair." -the UN's envoy Wednesday What the...

Migrants to Europe by sea are now using the Libya to Italy route. It is far deadlier than crossing from Turkey

Military parade in the streets of tonight showing support to the GNC & Salvation Govt.

| 120 armed vehicle from Misrata's ElMarsa+315 Brigades tour capital Tripoli tonight in a show of support for former parliament (GNC)

Libyan coastguard allegedly attacks rescue NGO & refugee boat; 4 dead — . Their statement:

LIVE - President Erdoğan: Turkey is 'obliged' to proceed towards al-Bab city, Syria

: Rebels and Jihadists prevented civilians from leaving E. Aleppo for the third day. Jihadists & rebels attack 1070 apartments

Today is the last day offered by for Jihadists and rebels to exit and allow civilians to leave willingly from E. .

Pro- analysts advertising4 Jihadists & rebels reception of modern and large quantity of weapons, preparing for a new offensive +

admin & regional allies sending weapons, Jihadists +rebels prepared 2attack, so is the other side = mother of all battles ahead

As I mentioned earlier, the path has now been laid for offensive to re-break siege. Final preparations being made

: Regional states have provided substantial support to buttress the offensive. Focus will be from SW , w. a support front from NE.

: Forces inside are also launching raids on areas in the city’s north, like al-Mallah, Handarat etc. Consequential 24hrs ahead.

: Euphrates Shield forces will concentrate their attack on SDF in Tel Rifat, while launching stand-off attacks on regime in NW .

: Reliable source tells me the main objective will be to re-capture Castello Road (a touch job) from ’s NW (Kafr Hamra, Hreitan).

: Core forces involved in that push from NW will be: - Ahrar al-Sham - Zinki - Jabhat al-Shamiya - Free Idlib Army - Fastaqm Kama Umirt

: Source says the impetus & most of planning for this latest offensive largely excluded JFS, but the jihadi group will join the battles.

FM Mevlüt Çavuşoğlu: Turkish air forces are included in the coalition in and

Hits Dozens Of Isil, Pkk/pyd Targets In

Extension of humanitarian pause in depends on Saturday's developments

Russian General Staff: Humanitarian pause in Aleppo extended for 24 hours

How the USA, Russia, Iran, al-qaida and ISIS benefit from Assad in power My take via

Turkish defense minister says US keen to work with for offensive