Tuesday, October 4, 2016

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








Here's what gold did in one session:










Blood bath in and miners -8.5% to -10% in the 's










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










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








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








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










MUST READ: In Policy Shift, Opts for Production Cuts







Very interesting comments from re: why decided to move in --








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








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







denies media report on taper talks. Says has not discussed reducing bond purchases. (Table via Citi)







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








REGULATORS DIDN'T PROVIDE GUIDANCE ON TIMING OF NEXT ASSESSMENT








Around The Horn - Europe.....








September state revenues beat target








IMF is particularly optimistic on growth for this year and next








Refugee Numbers Increase on Border Islands of the Aegean






Moscovici: Greece Holds Record Number of Reforms, Time for EU to Reciprocate








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










cuts ’s growth forecasts, cites vulnerable lenders.









Sold to you...









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








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










Liam Fox gets it...











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









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







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







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








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








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









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










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









Turkey suspends 12,800 police officers in coup plot probe







TURKEY PRESSURING EU AMID LACK OF MIGRATION COORDINATION: MNI










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









There are tens of thousands of similar stories like this one in Turkey. Imagine the wreckage










Hurricane Matthew....















Latest forecast track has a cold front pushing away as it nears Hampton Roads:








Forecast IR imagery for shows US landfall as a heck of a storm. Very eye-catching to look at!







Latest Advisory for Hurricane Matthews....










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








South Carolina To Evacuate Coast as Hurricane Matthew Threatens U.S.; Florida Gov. Scott Activates National Guard









Hurricane Matthew could make history on NC coast








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









Here are the key messages from NHC regarding Category 4 at 5pm EDT Tuesday









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






After , now hurricane could disrupt shipments into the US East Coast cc:









Rue Nicolas Geffrard Les Cayes









Les Cay









Sa se vernet okay








Odds & Ends....






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







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








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











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








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









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









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