Monday, November 28, 2016

Economic News , Data & Views......November 28 , 2016...... Quick Hits For Monday - 1) Markets & Market Moving News : Asia Outlook & Tuesday Items ; US Stock Indexes Down Moderately On Monday ; Oil & OPEC - Monday's Technical Meeting Ends Without Agreement On Details On Output Cuts , Iraq & Iran Still Not Agreeable To Output Cut , Saudis Still Insist Output Cuts Also Be Borne By Iraq & Iran , Crude Price Ends Higher On Wednesday Hopium , Additional Items Of Note . 2) US Politics - Trump Transition Updates , Monday Recount Updates For Wisconsin ( Stein Request For Hand Counting Of Ballot Denied ) & Pennsylvania ( Stein Files For Recount In Pa.) 3) Europe In Focus - Items Of Note For Monday. 4) Odds & Ends.

Asia For Tuesday.....




South Korean President Park says she'll "resign according to the law," let parliament decide on the rest of her term and transition of power







Pres Park: Apologises for scandal; Requesting Parliament comes up w/way to safely transfer power (effective resignation)






Short & sweet from South Korean President Park: I'm not stepping down; will resign if parliament tells me to; will address scandal later.







Park Asks Parliament To Devise Ways To Safely Transfer Power






South Korean Pres Park: Will Leave To Parliament All Affairs Including Shortening Her Term - RTRS






South Korea's Park expected to offer to relinquish some powers: Yonhap







JUST IN: South Korean President Park NOT stepping down; will let parliament decide her term; to address details of scandals later on








Japan Retail sales MoM 2.5% vs 1.1 estimate





Japan jobless rate for October 3.0%vs. 3.0% estimate








Japan household spending YoY for October -0.4% vs. -1.0% estimate





Economic data due from Asia today - Japan household spending/jobs data







Monday.....






Markets....








Trumpsgiving Hangover? Gold Gains Most In A Month As Banks, Small Caps, Dollar Stumble







DOW JONES UNOFFICIALLY CLOSES DOWN 50.71 POINTS, OR 0.26 PERCENT, AT 19,101.43




S&P 500 UNOFFICIALLY CLOSES DOWN 11.29 POINTS, OR 0.51 PERCENT, AT 2,202.06




NASDAQ UNOFFICIALLY CLOSES DOWN 29.17 POINTS, OR 0.54 PERCENT, AT 5,369.75







U.S. crude futures settle at $47.08/bbl.⬆$1.02. +2.21%. _F7














| Zanganeh TV interview: argues those that raised output while Iran was under sanctions should bear greater cuts. shana.






sent a 1,370-words long message to via its ministry official website. It isn't pretty








| , still have reservations on output cuts. delegate. BBG.







OPEC EXPERTS DID NOT AGREE ON DETAILS OF OIL OUTPUT DEAL - OPEC SOURCE







 

Bond-Market rout breeds few bold predictions for rebound as inflation expectations jump to highest since Aug 2015.









US Politics.......






Some Dems side with Trump, dismiss recount as "waste of time" and "scam"








Stein: 'My campaign is not going to win here'








JUST IN: Wisconsin officials estimate recount will cost $3.5 million








NEW: Trump and Romney will have private meeting Tuesday amid secretary of State talks: report










Pres Elect Trump selects Tom Price of Georgia as Sec. of Health and Human Services








Michigan gets called for Donald Trump, giving him 306 electoral votes to Hillary Clinton's 232








Stein files recount petition for Pa.









. on Stein's "California Claim" - News to us. Our machines are federally approved, locally tested, and meet our standards










WI election commission denied Jill Stein request for "a hand recount" of ballots. Instead ballots to be checked by machine. Stein can sue









If the same ballots are recounted by machine , expect no material change. I expect Stein to sue for a hand count.







UPDATED TRUMP SCHED TODAY Sandeep Mathrani Paul Atkins Kathleen White David Petraeus Dave Steward Scott Pruitt David Clarke John Allison






TRUMP MEETINGS TUESDAY Marsha Blackburn Pete Hegseth, ex Concerned Veterans Marion Blakey, Rolls Royce Corker Michael McCaul Barletta Romney





Looks like final meeting on Tuesday will be w/ Romney. Not an accident - noting Trump's displeasure with Kellyanne.







Trump "furious" over Conway comments about Romney: report









Reince Priebus, on the proposed recount: "It is a total and complete distractions and a fraud"







"Our message has been wrong," Pelosi challenger Rep. Tim Ryan said, arguing Dems should have an economic message








In case you missed any of the big moments from the Sunday talk shows, RCP has them for you:






Europe......






's Dijsselbloem: Eurogroup to discuss Greek debt at Dec meeting.







Monte Dei Paschi di Siena & Unicredit fall 7.5% and 3.96 5 respectively . he FTSE Italy Banks index falls 3.45%.










Risk that Monte Paschi’s rescue plan won’t be completed, bank could need resolution measures including bail-in - Document seen by Reuters.







‘Apocalypse’ scenarios unlikely for Euro even if votes NO, CBK's Leuchtmann writes citing US inflation expectations stopped rising.









Global bond yields are edging lower. The move lower in crude oil is helping global yield curves to bull flatten relatively strongly.







Odds & Ends.....





Colombian authorities responding to plane crash carrying members of soccer team of







At least 10 injured people are being evacuated from the scene - reports








Charter plane crashed due to lack of fuel at around 10:15pm local time in Cerro Gordo in municipality of La Union, according to Mi Oriente.















OSU Attacker Complained That As A Muslim "I'm Not What The Media Portrays Me To Be" .......








OSU attacker Abdul Razak Artan, in The Lantern, August 25, 2016









Kuwait opposition win 24 out of 50 parliamentary seats after years of boycott






Al-Khoms announces state of emergency, activates security room after murders witnessed by city this weekend.









68 US airstrike on targets in during the last 3 days.







HoR and GNC talk about forming another unity government! # Tripoli







Deadlock remains: Central bank won't release foreign reserves to UN-backed govt (Tripoli), despite requests from diplomats.








official map for the recent battlefield situation in , 40% of rebel-held restored.











Map Comparison: Military Situation in Aleppo City on May 11 vs Aleppo City on November 28









NEW MAP: Militants in suffer crushing defeat. reduced enemy territory by 40%. HD:











. on how pro-war pundits have smeared and even endangered journalists reporting on the ground in Syria









The media are misleading the public on Syria By eminent scholar Stephen Kinzer Only much worse since he wrote it!