Markets.....
*APPLE 4Q EPS $1.67, GAAP EST. $1.66; REV. MISSES EST.
$AAPL down 2.2% after hours
DOW JONES UNOFFICIALLY CLOSES DOWN 52.77 POINTS, OR 0.29 PERCENT, AT 18,170.26
S&P 500 UNOFFICIALLY CLOSES DOWN 8.24 POINTS, OR 0.38 PERCENT, AT 2,143.09
NASDAQ UNOFFICIALLY CLOSES DOWN 25.92 POINTS, OR 0.49 PERCENT, AT 5,283.90
Everything things coming up roses......
ForexLive Americas FX news wrap: Cable crumbles, then rebounds
#Oil drops to 1week low as Russia once again ruled out participating in production cut although will consider freeze http://bloom.bg/2dE4nAn
Oil prices drop a little more - private inventory data shows bigger than expected build
CRUDE +4.8mb
GAS +1.7mb
DISTILLATES -0.94mb
CUSHING -2.3mb
#Nigeria | Shell says has NOT yet resumed crude exports from Forcados terminal; after govt statement indicated they had begun. BBG. #OOTT
Iraq seeks exemption in November.Who in OPEC will agree to gore its own ox first for this alleged production freeze?
OPEC Said to Invite Brazil, Mexico, Norway to Talks This Week.
#IRAQ CAN ACCEPT OPEC OIL FREEZE BASED ON `ACTUAL' OUTPUT: JIHAD - BBG
*IRAQ OUTPUT-FREEZE SHOULD BE BASED ON >4.7M B/D OF OIL: JIHAD
China's strong oil demand was fuelled by loans paid with 3 times more oil due to lower price http://reut.rs/1qGgy17
US sells 2-year notes at 0.855% vs +0.860% WI
US $26bln 2yr Note Auction:
-Cover: 2.53 (prev. 2.65)
-Yield: 0.855% (prev. 0.750%), WI: 0.856%
US $26bln 2yr Note Auction:
-Direct: 10.1% (prev. 19%)
-Indirect: 33.7% (prev. 36.7%)
Scotia: There is widening gap between German 10yr yields & what macro fundamentals are suggesting. Yields should be more around 0.5% than 0%
Around The Horn In Europe...
Guardian Exclusive: Leaked recording reveals what #TheresaMay really thinks about #Brexit in 'Private' talks with @GoldmanSachs
LEAKED: UK PM May speech at Goldman Sachs shows she wanted the UK to lead in Europe, feared businesses would leave https://www.theguardian.com/politics/2016/oct/25/exclusive-leaked-recording-shows-what-theresa-may-really-thinks-about-brexit?CMP=Share_AndroidApp_Tweet …
ECONOMY: Brussels demands €5.5 billion in additional budget cuts from Spain in new letter to Guindos.
http://ec.europa.eu/economy_finance/economic_governance/sgp/pdf/dbp/2017/dbp_2017_-_vd-pm_letter_to_spain_-final.pdf …
Hollande at 4% approval - how can he pretend he's going to run in 2017 ? Politically speaking , he's almost a JGB?
First Italy blocked sanctions against Russia,at recent EUCO Summit. Now Spain in refueling Russian ship controversy.
A new sign that Deutsche Bank is strapped for cash
Xcite bondholders clearly "not excited."
Takeaway: Italy wants to be key broker in Brexit talks. Preserving cohesion of EU-27 a priority for Rome, but no intention to 'punish' UK.
DRAGHI SAYS THE EURO REMAINS VULNERABLE IF THE MONETARY UNION IS NOT COMPLETED, BANKING UNION IS NOT ACHIEVED
Oil and gas industrial contractor Saipem shedding jobs ( 800 ) and 9 month loss at 1.9bn.
Excellent article and timely warning pertaining to DB-extrapolate credit exposures while DB horse still in the barn.
Migrant concerns in Tuscany raised , other Regions of Italy not taking a fair share ?
Renzi vs EU tempest ( this time on Budget ) about to flare up again.
Demolition of Calais Camp underway..
NOTE , "No" continues to lead "Yes" , regarding the Constitution Reforms Referendum.
MBS settlements may not be concluded until perhaps 2017 - uncertainty will continue for DB , CS , RBS & Barclays.
NOTE , "No" continues to lead "Yes" , regarding the Constitution Reforms Referendum.
Juppe lead over Sarkozy now at 11 points......
Deutsche Bank Said To Consider Full Integration Of Postbank Unit Instead Of Sale - RTRS Sources
Pretty much what happens with penny stocks. Roller coaster rides from day to day. Zombie dances are interesting to observe.
#ECB has few stimulus options left to combat any fresh shock, Bloomberg Intelligence says. Helicopter money last option, but very unlikely.
Populism-belief in power of regular people & in their right to have control over their Gov't rather than political insiders or wealthy elite
More good news: German Ifo Business Confidence Increases to Highest Since 2014, outpacing expectations. (Chart via FT)
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