Catharsis Ours: Economic News , Data & Views...... October 4 , 2016....... Quick Hits - 1) Markets & Market Moving News : US Stocks , Gold ( Major Sell-off Today ) , Silver , US Treasuries Hit By The Proverbial Lead Gas Pipe Today , Oil The Exception To General Rule Of Sell-off Today ; Oil Items Of Note ; ECB Denies Media Report On Taper Talk - Which Was Part Of Reason For US Stock Sell-Off ; Global Bonds Jump Due To ECB Story - That ECB Denied ; Living Will Day For 5 Big US Banks ; Additional Items Of Note. 2) Europe In Focus - Greece , Italy , UK , Germany , Turkey. 3) Hurricane Matthew Hits Haiti , Lumbering Toward US. 4)

Markets....

U.S. stocks finished lower following reports that the ECB could end quantitative easing efforts sooner than planned http://on.mktw.net/2dtogYJ 

‏@MktwSaefong

Here's what gold did in one session: http://on.mktw.net/2cPnneM 

‏@Gloeschi

Blood bath in $gold and $silver miners -8.5% to -10% in the #ETF's

‏@cbjom

Norm ignore #APIs but it smells right: crude draw = low #crude imports & ref runs still v strong. Hence, #mogas+ & muted #disty- #OOTT #EIA

‏@Schuldensuehner

#Oil prices rally as API provides shock & awe. API said to report crude inventories fell 7.6mln bbl last week.

‏@Schuldensuehner 1hr

Non-OPEC participation in deal would cut 1.2mln bbl/d and add as much as $15 to prices, Venezuela says. http://reut.rs/2dqGcn4 

‏@JavierBlas2

Brent crude #oil is up more than 10% in 5 business day ($51.37 a barrel today is highest intra-day since early June) #OOTT #OPEC

‏@JavierBlas2

MUST READ: In Policy Shift, #OPEC Opts for Production Cuts https://shar.es/1xFonX  #OOTT #oil #SaudiArabia #Iran

‏@JavierBlas2

Very interesting comments from @Citigroup re: why #SaudiArabia decided to move in #Algiers --  #OOTT #OPEC #oil

‏@C_Barraud

Other OPEC members will need to cut 1.7m b/d to reach 32.5m ceiling pledged in Algiers last week - Petromatrix

Christophe Barraud @C_Barraud

#OOTT | OPEC #Oil Production May Exceed 34m B/D in Oct.: Petromatrix
*Output may reach 34.2m b/d amid returning supplies from Nigeria, Libya

‏@Schuldensuehner

Eurozone bond yields jump following BBG report that #ECB said to build tapering consensus as QE decision time nears. One scenario €10b/month

‏@Schuldensuehner

#ECB denies media report on taper talks. Says has not discussed reducing bond purchases. http://reut.rs/2dZaO0U  (Table via Citi)

‏@DeItaOne

U.S. REGULATORS RELEASE PUBLIC VERSIONS OF UPDATED 'LIVING WILLS' FOR 5 BIG U.S. BANKS

‏@DeItaOne

REGULATORS DIDN'T PROVIDE GUIDANCE ON TIMING OF NEXT ASSESSMENT

Around The Horn - Europe.....

‏@ekathimerini

September state revenues beat target http://dlvr.it/MNzksZ 

‏@ekathimerini

IMF is particularly optimistic on growth for this year and next http://dlvr.it/MNzlBs 

‏@GreekReporter

Refugee Numbers Increase on Border Islands of the Aegean http://dlvr.it/MNywT9  #Greece

‏@GreekReporter

Moscovici: Greece Holds Record Number of Reforms, Time for EU to Reciprocate http://dlvr.it/MNywkz  #Greece

‏@KaterinaSokou

IMF: On Greece, numbers need to add up & not be a function of politics, all parties need to find arrangement w realistic primary sur/ debt

‏@Schuldensuehner

#IMF cuts #Italy’s growth forecasts, cites vulnerable lenders. http://bloom.bg/2dO2Gki 

‏@fredwalton216

Sold to you...

*Walter Bloomberg @DeItaOne

MORE THAN 80 PCT OF ITALY'S NEW 50-YEAR BTP BOND WAS BOUGHT BY FOREIGN INVESTORS - LEAD MANAGER

‏@Schuldensuehner

#Italy's 1st 50y bond sale said to total €5bn, BBG says.

‏@DeItaOne

FRENCH FINANCE MINISTER SAPIN TELLS REUTERS BRITAIN "PREPARING FOR BATTLE" IN BREXIT NEGOTIATIONS

‏@fredwalton216

Liam Fox gets it...

Pieter Cleppe @pietercleppe

UK Minister Liam Fox on #HungaryReferendum at #CPC16 : people in EU feel they've lost control. EU should be run for people, not for govts

‏@pietercleppe

UK Minister Liam Fox at #CPC16 : nobody has said that UK won't have any immigration. We'll be open but want to decide numbers ourselves

‏@fredwalton216

IMF admits wrong bigtime about Brexit effect , swears it will be right re: gloomy 2017 prediction. Right.... :-D

Andrew Neil @afneil

IMF now says Britain will be fastest growing economy (1.8%) in G7 this year, admits too gloomy pre-June 23rd. But predicts only 1.1%, 2017.

‏@DeItaOne

GERMANY'S SPAHN - ACCESS TO EU'S INTERNAL MARKET ONLY WORKS IN TANDEM WITH FREE MOVEMENT OF WORKERS

‏@DeItaOne

GERMAN DEPUTY FINANCE MINISTER SPAHN TELLS REUTERS - CAN'T IMAGINE ANY BREXIT PRE-NEGOTIATIONS ON SUBSTANCE WITH UK

‏@DeItaOne

GERMANY'S SPAHN ON BREXIT - THIS WILL BE 'THE MOTHER OF ALL NEGOTIATIONS"

‏@fredwalton216

Now DB settlement  (even lower than Friday's false rumor) , set by end of October. So-no fast deal this week then ?

zerohedge @zerohedge

Here we go again: DEUTSCHE BANK EYES U.S. SETTLEMENT OF $4-5 BLN BY MONTH-END - PLATOW BRIEF

‏@fredwalton216

Spin to prop up DB becoming absurd. DB market cap deserved small , derivative portfolio hardly small.

Bloomberg @business

Deutsche Bank's troubles are being exacerbated because "it's so small," Altman says http://bloom.bg/2cQ5g8D  

‏@alauraschneider

People protesting Merkel's Euro policies and the relationship with the US on yesterday's German Unity Day.

‏@HDNER

Turkey suspends 12,800 police officers in coup plot probe 
http://hry.yt/jWbIe 

‏@zerohedge

TURKEY PRESSURING EU AMID LACK OF MIGRATION COORDINATION: MNI

‏@fredwalton216

Will Turkey's Parliament pursue its own JASTA type law to allow victims of July coup to sue US in Turkey ?

DAILY SABAH @DailySabah

Victims of July 15 coup attempt: US may also be sued for harboring Gülen http://sabahdai.ly/k5TGtN 

‏@MahirZeynalov

There are tens of thousands of similar stories like this one in Turkey. Imagine the wreckage http://www.abc.net.au/news/2016-10-04/turkey-gripped-by-fear-in-aftermath-of-failed-coup/7894250 …

Hurricane Matthew....

‏@13NewsNow

Latest forecast track has a cold front pushing #HurricaneMatthew away as it nears Hampton Roads: http://on.wvec.com/2dJTGt8 

‏@B_Carp01

Forecast IR imagery for #HurricaneMatthew shows US landfall as a heck of a storm. Very eye-catching to look at! #tropics #flwx #gawx #scwx

‏@fredwalton216

Latest Advisory for Hurricane Matthews....

Gary Szatkowski @GarySzatkowski

Latest advisory from @NHC_Atlantic on Hurricane #Matthew. Still a long way to go for this event. 

‏@HarrisCBS46

Here's the latest track on Hurricane #Matthew. Moved a little west. #GAwx

‏@Jantxnc

South Carolina To Evacuate Coast as Hurricane Matthew Threatens U.S.; Florida Gov. Scott Activates National Guard http://wxch.nl/2dM0bf0 

‏@KimAKersey

Hurricane Matthew could make history on NC coast 

‏@BDormanTV

Hurricane #Matthew makes landfall near eastern tip of #Cuba eith max. sustained winds of 140 mph, National Hurricane Center says. #CNN

‏@NHC_Atlantic

Here are the key messages from NHC regarding Category 4 #hurricane #Matthew at 5pm EDT Tuesday http://www.nhc.noaa.gov/#MATTHEW   @NHCDirector @NOAA

‏@MikeTFox5

New track from the National Hurricane Center bring track of #HurricaneMatthew a little closer to #Florida. Slightly farther east up north.

‏@JavierBlas2

After #ColonialPipeline, now hurricane #Matthew could disrupt shipments into the US East Coast #OOTT #oil #gasoline cc: @laurablewitt

‏@Karlyhit

Rue Nicolas Geffrard
Les Cayes
#MatthewHaiti

‏@Karlyhit

Les Cay
#MatthewHaiti

‏@Karlyhit

Sa se vernet okay
#MatthewHaiti

Odds & Ends....

‏@Eljarh

At the start Pentagon expected air strikes against Daesh in #Libya would last few weeks, it is now the 3rd month. #Sirte #ISIS

‏@Eljarh

Total blackout in Eastern #Libya Benghazi to Tobruk. Blackout started at around 4 a.m. today morning. #Libya

‏@fredwalton216

Duterte tees off on Obama and US again...becoming almost a once a week thing with him.

Reuters Top News @Reuters

Philippine leader tells Obama 'go to hell', says can buy arms from Russia, China http://reut.rs/2cPHqKt  

‏@fredwalton216

Assange burst the bubble of thousands of viewers who listened in hoping for a bombshell “October Surprise” that would hurt Clinton.

Heat Street @heatstreet

.@Wikileaks held off making any major disclosures #OctoberSurprise http://heatst.com/world/october-surprise-delayed-julian-assange-wikileaks-push-back-us-election-release/ …

‏@fredwalton216

Will Turkey's Parliament pursue its own JASTA type law to allow victims of July coup to sue US in Turkey ?

DAILY SABAH @DailySabah

Victims of July 15 coup attempt: US may also be sued for harboring Gülen http://sabahdai.ly/k5TGtN 

‏@fredwalton216

Hard to believe this will come to pass-but one has to at least consider war with Russia being the "OctoberSurprise."

zerohedge @zerohedge

US Considering Air Strikes On Assad Regime After Top General Warns It Could Lead To War With Russia http://www.zerohedge.com/news/2016-10-04/us-considering-air-strikes-assad-regime-after-top-general-warns-it-could-lead-war-ru …

‏@fredwalton216

Note , in part ,  the crisis hitting foreign workers not being paid stems from Saudi Gov't not paying the Companies.

Middle East Eye @MiddleEastEye

Saudi court orders company owner to pay $1 million to staff or go to prison http://ow.ly/YkF8304QSUo  

Catharsis Ours

Tuesday, October 4, 2016

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