Friday, November 25, 2016

Economic News , Data & Views...... November 25 , 2016.....Quick Hits - 1) Italy Referendum - Renzi Says Vote Not About His Future , Padoan Express Confidence Everything Under Control Regarding Debt Management Regardless Of Vote Outcome , Yields For Debt Issuance Keep Rising Though. Monte Paschi Falls More Than 5.5% Today After Winning Shareholder Support for 5 BN Euro Cash Call. 2) France In Focus - Imminent ISIS Terror Plot Directed From Outside France Foiled , Massive Floods Roil France , French President Race Updates. 3) Germany In Focus - Wobbly EU - Turkey Deal Flutters In The Wind As Merkel and Erdogan Comments Echo , Schulz Seems Likely To Make A Run For Chancellor In 2017 As SPD Candidate , Spread Between Bunds and Bonds From France & Italy Widening , Additional Items Of Note. 4) Greece In Focus - Bailout Review Updates , Tragedy At A Refugee Hotspot & Refugee Related Items , Economic Data. 5) US Political Updates For Friday. 6) Odds & Ends.

NOTE - Additional Items Are Added - During The Course Of The Day !



Padoan: If No Wins In Ref Next steps Are Down To President

Padoan: No Risk Of Falling Back To 2011 Situation, Debt M’ment Under Control


Political risk is getting more expensive for Renzi govt: sold €3.5bn 2y bonds at 0.283% -0.216% at last auction.

economy minister says Monte Paschi recapitalisation plan works. Govt will take part in recap.


World's oldest bank Monte dei Paschi wins support for £4.25bn cash call

Major flood warning in Italy....

Widespread flooding in Northern Italy, 400 evacuated, one missing: Prime Minister:“The emergency phase is not over"

Flooding river Messa, Almese, Piemonte, NW Italy this evening. Photo: Giulio Tosco

BEFORE & DURING: bridge Tanaro in Garessio (CN), NW Italy during intense flooding today! Report to SWE by Bernd März.

Ceva (Piemonte, NW Italy) and the flooding Tanaro river this afternoon! Photo: L'Unione Monregalese


5 men arrested in 2 French cities were planning terror attack in France early as next week, prosecutor says.

Foiled Paris terror plot 'was being directed from abroad'

IN PICS: More floods sweep through southern France

Hollande hails slight fall in French jobless rate

François Fillon believes the future of French society is not multicultural. What about the present?

JUPPÉ: "Minsk must be implemented for the sanctions to be lifted" vs FILLON:"EU sanctions absurd policy. And Ukraine not implementing Minsk"


says ‘threats not helpful’ on EU-Turkey deal

President Erdoğan ultimatum - Turkey will open its borders to migrants "if you push any further." 1

pres Erdoğan on Parliament resolution: If Europe goes too far, we will allow to pass from border gates [into Europe].

planning to 'massively' limit privacy rights

Senior German politician proposes retroactive checks of Syrian

Germany's DAX immediately drops after Erdogan's threat to open borders for migrants in Turkey.

Might Martin Schulz give Merkel a better run for her money in 2017 ? Germans believe so apparently , at least compared with Sigmar Gabriel.

poll []: CDU/CSU 36% +2 SPD 21% -1 AfD 13% +1 Grüne 11% -2 Linke 10% FDP 5% ↓ Merkel candidacy boosts Christian-democrats.

A football agreement was signed between Germany and China today ➡️

Good morning from Berlin. Asia markets broadly higher, w/ Nikkei hitting fresh 10mth high on weaker yen. Bond ylds keep rising, Gold falling

Centrifugal forces in the rise. 10y risk premium over Germany hits 2.5y high.

. risk spread over has risen to 188bps, highest since May 2014.

Greece -

Piraeus Bank Chief: Greek Economy Will Benefit from Trump Victory

Bank of Greece chief optimistic about bailout review

: I think the govt is v. close to closing the [2nd] evaluation, so i hope that on [Dec] 5th there'll be white smoke

ECB’s Stournaras: Hopes IMF remains part of Greek programme – BBG TV

Afghan Granny, grandson, 5, die in hot spot in tragic gas explosion; 2 more seriously injured

says EU has sent 36 officials 2 help wt asylum out of a promised 400. EU promised 100 in new deal: 'we're still waiting 4 them'

Mother and son in critical condition from Moria migrant camp fire

Infighting: Migration min slams SYRIZA MP 4 siding wt island authorits+refusing 2 accept closed camps 2 improve safety

Another fire burned 2 tents in a camp at , north of Attica earlier this morning, no injuries, says fire department

budget primary surplus to Oct confirmed at 6.5 bln, 2.9 bln above revised target

US Politics.....

Check out who supported Trump and Clinton and where with this RCP interactive tool:

Wisconsin Elections Commission announces statewide recount. By law , the recount must finished 35 days after the election - which is Dec.13. Details for process in article.

The Commission has received the Stein and Del La Fuente recount petitions. Details and news release posted soon at .

Stein filed her request just before the deadline Friday afternoon, the Wisconsin Election Commission announced.

Fools and their money are soon parted. Jill Stein Can’t ‘Guarantee’ Money Will Go to Recount, Changes $$$ Goal.

From ZH Piece , note this - All that said, here is Jill Stein admitting to CNN that she has absolutely no evidence of election hacking....even though she asks that you please keep sending your money anyway.

JUST IN: Jill Stein hits fundraising goal for recounts in 2 of 3 states

Jill Stein raises nearly $5 million for recount effort

It appears that as more money came in, Jill Stein's estimated recount costs rose dramatically.

Washington Post gets tommy hammered by Zero Hedge ! Apparently everyone who doesn't spout gospel according to HRC Team is a Putin tool....

The report from PropOrNot, provided to the Post, identifies more than 200 websites that routinely pushed Russian propaganda to at least 15 million Americans.....

Pence takes lead on Carrier negotiations that Trump bragged about on Twitter

President-elect Donald Trump has named former Federal Election Commission Chairman Don McGahn as his White House Counsel.

SCOOP: Trump taps for deputy national security adviser, two transition officials tell me. She has accepted, I'm told.

KT tried to challenge Clinton for Senate seat in 2006 but lost primary. NYT at time: "tough, telegenic woman who supports abortion rights."

Trump expected to tap Wilbur Ross for commerce secretary: Trump is also expected to select…

A Washington Transition for Trump, and For the Rest of Us reports

The latest on the Trump team's transition planning, and more in Capital Journal Daybreak 🔓

Chief Says Donald Trump Hasnt To Pull U.S. From Trade Group

Giuliani has vented frustration over the public spectacle the deliberations have become

Odds & Ends......

Is it "fake news " to suggest there is a connection between HRC's election loss and the decision of Norway & Australia to slash C.F funding?

1/ One of my Banking sources passed me this internal document. More banks leaving R3. Funding stalled.

If you follow the R 3 blockchain initiative , this may interest you. Withering on the vine. Fwiw

Exchange not going according to plan. Therefore-plans for a huge tax levy & the Indian government may soon impose curbs on holding gold.

This should STOP ✋ Rumour mongering!! Demonetisation: No proposal to restrict gold holding by individuals

UPDATED: Said to Quit Talks as Deal No Closer (and chart with price reaction)

| sent official letter of non-attendance for monday's meeting. source. reuters.

: Major development talks; back to the drawing board.




Michel Temer now potentially faces threat of impeachment. Search for an honest political leader in Brazil continues....

Not going to g over well in the UK or Elsewhere around Europe ( the idea benefit schemes have been misused to fund terror in some cases.)

Israel arrests 12 on suspicion of arson after mass wildfires

Saiqa forces take over several areas of western from as clashes continue on Friday.

- photos purportedly showing the discovery of the cache, weapons&ammo stored in burlap bags and buried 1.5~ meters underground

8 soldiers killed+10 wounded, in what looks like a relatively exceptional assault among routine smaller scale attacks

- launch large,multipronged attack on checkpoint ystday evening in ,several technicals, at least 1 VBIED + more explosives

Uproar in over news that proposed UK bill to use Libyan assets for compensation for victims of Gaddafi-supported IRA gaining traction

Tripoli’s FX black market traders cry foul as Rada continues to close them down -

Mansoura St. in blocked by residents & leaflets calling for a general strike on Sunday can be seen on streets

Mohamed al-Ghasri: We don't only suffer from Daesh but also circulating rumors, as we were accused of being internally divided

Mohamed al-Ghasri: The air force did was was requested despite their planes dating back to the former regime

Mohamed al-Ghasri: Daesh was planning a long war. In every area we entered we found workshops to make booby-trapped cars & field hospitals

Al-Ghasri: Our forces fighting in have paid a high price- 670 martyred & 3,000 wounded due to being abandoned by the int'l community

Mohamed al-Ghasri: We could liberate Al-Jiza within 24h but this would cause civilian casualties

Mohamed al-Ghasri: The is only a small part of Al-Jiza, not more than 300m2, left to seize for the battle to end

Abdessalam Nasiya (MP): The main reason for the depreciation of the dinar and the rising cost of living is the stalled oil production

Bilgassem Gzit (StateCouncil): The CBL's failure to provide liquidity and address the price hike is at the origin of Libya's economic crisis

Another Oil Producer Under Pressure to Devalue Its Currency