Wednesday, November 16, 2016

Economic News , Data & Views........November 16 , 2016..... Quick Hits for Wednesday - 1) Markets & Market Moving News : Economic Data From Asia For Thursday China & Japan News Of Note ; US Markets - Dow Breaks Winning Streak , S&P Modestly Lower While NASDAQ Ends Higher , FX Moves For Wednesday , Oil Items For Wednesday , Fed Speakers ( Mester , Kashkari & Harker ) Collectively Signal December Rate Hike Baked In The Cake ; Additional Items Of Note. 2) Europe In Focus - Greece , EUC / ECB , Europe Refugee Crisis , Merkel , France Items Of Note. 3) US Politics - Democratic Party News Items For Wednesday , Transition Items , Post-Election Aftermath & Analysis . 4) Odds & Ends - Libya , Syria , Turkey & Iraq



Markets.......






Asia.....Thursday





Good morning from Berlin. Asia stocks steady, bounced from the day lows after BoJ unleashes unlimited bond buying for 1st time to cap yields











PBOC sets USDCNY mid-point at 6.8692 (prev fix 6.8592, prev close 6.8761); 10th straight weaker fix








Economic data due from Asia today (MOAR Fed speakers!)





China press on the yuan - unlikely to fall sharply for long




Japan 20yr note sale, Cover: 3.17, Avg. Price: 100.80, Avg. Yield: 0.456%








So much for that one.....










10-year JGB yield. BOJ announced its using this new tool for the first time time today - buying up bonds at a fixed rate.









Here's USD/JPY after the Bank of Japan announced its first fixed-rate operation to purchase government bonds








Japan Cabinet adviser wants extra fiscal stimulus next year







India Bank Chaos Continues - BBC Report....














India bank woes continue....









Indelible India: Inking begins, some banks use 'dhobi ink' - The Indian Express








Modi mess in India in 2 sentences :1) 97% of India's economy is cash based ; 2) 88% of currency notes are illegal.








Wednesday......









Dollar Illiquidity Getting Critical: A $10 Trillion Short Which The Fed Does Not Understand







Forexlive Americas forex news wrap: EURUSD makes new 2016 lows




Gravity returns , the Dow goes down....








DOW JONES UNOFFICIALLY CLOSES DOWN 54.71 POINTS, OR 0.29 PERCENT, AT 18,868.35






S&P 500 UNOFFICIALLY CLOSES DOWN 3.53 POINTS, OR 0.16 PERCENT, AT 2,176.86







NASDAQ UNOFFICIALLY CLOSES UP 18.42 POINTS, OR 0.35 PERCENT, AT 5,294.04








Returns since July 1, 2014... US Dollar Index: +25.9% CRB Commodity Index: -40.8%










Get it over with...








Interesting development on infrastructure. ..








Treasuries rout seems linked to dumping by China and KSA.










Dollar Index and Crude Oil...








US crude oil futures settle at $45.57 per barrel




And isn't attending either the Doha talks later this week. faces an even more difficult job








| energy minister Novak: we agree on freezing output. everything will depend on decision, which ussia will support. RTRS







RUSSIA ENERGY MINISTER SAYS FORMAT FOR NOV 30 MEETING NOT YET DECIDED. But very optimistic in any case







RUSSIA ENERGY MINISTER SAYS NO DECISION YET WHICH DATE TO TAKE FOR OIL FREEZE, NOVEMBER OR JAN 1. Hold on, what happened to the "cut"







’S MINISTER WILL NOT ATTEND TALKS IN DOHA FRIDAY, IRAN’S OPEC GOVERNOR WILL REPRESENT IRAN – TWO OPEC SOURCES - RTRS








OPEC's crude output has reached record levels, as production kept rising after Algiers deal








More again from Fed's Harker: Supports a 25bp hike in Fed Funds rate




More from Fed's Harker - We have to take into account lots of risks to economy




Fed's Harker: Unemployment rate is right on the Fed's target





Fed's Kashkari: Fed should be willing to tolerate 2.5% inflation




Fed's Mester. It is appropriate now to raise rates



Around The Horn - Europe ....




The European Commission’s assessment has sounded the alarm bell for eight of the 19 Eurozone member states - two speed EZ in focus.







Reactions from Schauble and Dijsselbloem , subsequent to President Obama call for debt relief for Greece.










French Senate majority will vote against 2017 budget --AFP







Merkel to announce on Sunday whether she will seek a 4th term. So we have that on deck for the weekend.








Libya the new transit point for refugees heading to Europe...











Great chart - also consider Fed balance sheet shrinking while ECB balance sheet spiking hard !










Frans Timmermans states - U.S. investigations had pointed to "growing indications that the [Gülen] movement certainly played a role".










Goldman compares Brexit and Trump market reactions













First day of review talks highlights differences as Athens eyes tight schedule






US Politics......





RE : Michael Flynn as National Security Advisor - ABC , GMA have walked back from "selected" to contender. NBC says "selected."








Michael Flynn Said to Be Trump’s Top Choice for National Security Adviser









Misfire? ABC's tweeted that Trump "announces Lt. Gen. Michael Flynn as his National Security Advisor," then deleted it. No announcement








Well , here we go !








White House Confirms Pre-Election Warning to Russia Over Hacking -







Trump's transition team has yet to contact the Depts. of State, Justice, and Defense.









Secretary of State candidate John Bolton: Tear up the Iran deal. Secretary of State candidate Bob Corker: Don’t…





House GOP to Obama admin: Don’t try any last-minute regulatory stunts






Jim Webb: White working-class people don’t believe Democrats like them









Trump transition team requested security clearance for Jared Kushner, sources from transition team, intelligence community confirm to .








The violent protests have gone on 7 days-Sanders , Clinton (Hillary & Bill) , Biden and Obama should condemn this.











Jamie Dimon told Trump he has no interest in Treasury position: Fortune






JUST IN: Carl Icahn, asked if Steven Mnuchin should be U.S. Treasury secretary, calls him 'smart guy' who is not part of establishment









“We just had a ‘drain the swamp’ election”: Paul Ryan blocks House GOP’s attempt to bring back earmarks







Ryan unilaterally halts plan to restore earmarks just before it was about to pass in closed conference







A protest march of approximately 100 people has left and is in the neighborhood East of campus. Minor impact.









Noting in 2012 , Slate wrote a cogent article providing 5 reasons why the Electoral College WAS Not undemocratic.








CEO resigns after online threats to assassinate President-elect Trump







Previous post on unhinged Facebook threats to kill Trump w sniper rifle made by CEO Matt Harrigan. He's resigned.















Schumer and Durbin elected #1 and #2 to a Senate Democratic leadership team that includes Elizabeth Warren, Bernie Sanders and Joe Manchin.






First of business by Pence was removing all of the Lobbyists from the Transition Team. Great start , by the way.









Odds & Ends....





Turkey.....






Turkish police detain mayors of two southern provinces







Pakistan to deport teachers linked to Gülenists








Turkish President Erdoğan blasts foreign media outlets at TRT World opening







Flynn on Nov8: "We need to adjust our foreign policy to recognize Turkey as a priority. We need to see the world from Turkey’s perspective."








BREAKING Pro-Kurdish DBP's Mayor Tuncer Bakırhan arrested on charges of membership of PKK/KCK.








President Tayyip Erdogan could rule Turkey to 2029 w/ expanded executive powers under proposals AK Party hope will go to a vote-early 2017.







Iraq/Syria....






NEW MAP update: Battle for . HD map version:







airport is fully liberated : is defeated in its most strategic base. No more roads available2 from the west.









Operation at Tal Afar Miltary Airbase underway...







Many cease-fire offered by Russia and Damascus to evacuate Jihadists & rebels on 2 exists & civilians (4 exists) rejected










SDF capture Khunayz al-Janoubi, al-Salman & Mashhad, they have now besieged Tell Samen from 3 sides and are attempting to enter it, Raqqa







A big development if accurate - YPG announce withdrawal of forces from Manbij and transfer to Raqqa offensive.






Libya.....







UAE base in Libya back in the news... Fwiw










4 explosions in 3 days ....









Zawiya subjected to multiple explosions over recent days....

















Saiq forces liberate strategic sites in the Ganfouda and Gawarsha areas of western from .









Fayez Serraj meets w/ 's Francois Hollande in Morocco, talk political situation & security cooperation









Fayez Serraj meets with the Deputy Prime Minister of the UAE in Morocco.








State Council removes and replaces 13 who were members of GNC but did not participate in council activities.









Interim Govt PM Abdullah al-Thinni denies news of dispute between himself Ageila Saleh and army command
















First claim for a group linked to / since the announcement of the establishment of the office in











Al Faruq Brigades - linked to - claims responsibility for the explosion in the cigarette shop last night in Az Zāwiyah, W of .









: The 🇺🇸 carried out 391 airstrikes against in since August 1 in support of operation Odyssey Lightning.








Libyan coast guard spox: Libyan waters r under intense surveillance to track migrant boats& illegal shipments.Fishermen must seek permission






One fishing boat and its crew has been released, negotiations are ongoing for the other two: Tunisian Defense Ministry







Protest by Libyan ground handling company at airport over salary delays








Residents recovered five charred bodies from the rubble: eyewitness







The presumed target, Abdelmenem Bilhaj al-Hassnawi (aka Abu Talha al-Libi), was renting one of the houses









Six people died in the mystery airstrike that hit 2 houses in Monday night - all foreigners accordng to mayor Hassan Maatuq