Thursday, December 22, 2016

Economic News , Data & Views.....December 22 , 2016.....Quick Hits For Thursday - 1) Markets : Asia Economic Outlook For Friday & Data & News Of Note ; US Stocks Indexes End Moderately down For Thursday , Crude Oil Moderately Higher - Production Notes From Various Countries . 2) Europe In Focus : Major Indexes End In The Red Thursday ; US Sues Barclays Over RMBS - Another Scalp Sought By DOJ ; Monte dei Paschi Lurches Toward State Aid & Nationalization ; Greek Battles With ESM & Also EG - Note Discord Between Tsipars & Schauble ; Berlin Market Updates . 3) US Politics - Transition News Items , Developments Of The Day. 4) Odds & Ends.



Market.........




Asia.....




Economic data due from Asia today





PBOC sets the TGIF USD/CNY mid-point at 6.9463 (vs. yesterday at 6.9435)








WARNING: Shanghai tells kids, elderly to stay indoors. Air pollution spikes to 2nd worst level on the nasty scale. Chart is a similar gauge











US.......



US stocks are ending in the red for the day



DOW JONES UNOFFICIALLY CLOSES DOWN 23.01 POINTS, OR 0.12 PERCENT, AT 19,918.95





NASDAQ UNOFFICIALLY CLOSES DOWN 24.40 POINTS, OR 0.45 PERCENT, AT 5,447.03





S&P 500 UNOFFICIALLY CLOSES DOWN 4.32 POINTS, OR 0.19 PERCENT, AT 2,260.86









US WTI crude oil futures settle at $52.95 per barrel





| Khalid al-Falih thurs: doesn't anticipate need to make additional cuts to supply. KSA wanted to "nudge" mkt. BBG.






*AL-FALIH EXPECTS OIL PRICES TO BE BALANCED BETWEEN $50 AND $100 (oh my). BBG.






| NIOC official: talks are underway with companies willing to develop Esfandiar field. shana.







Genscape Cushing inventory 12/17-12/20: -195,866 bbl over week ending 12/16.










| minister al-Marzouq thurs: monitoring committee to meet in January. location not decided yet. BBG.







| NOC's Sanallah: crude production now 635kbd. [was 575kbd November secondary sources]. Platts. via .







Europe.....





Minor loses for European equities at the close



Deutsche Bank agrees on settlement with DoJ on RMBS; to pay penalty of USD 3.1bln and provide USD 4.1bln of consumer relief in US







DEUTSCHE BANK AGREES TO PAY $3.1B CIVIL PENALTY WITH DOJ: BBG







*U.S. SUES BARCLAYS OVER RESIDENTIAL MORTGAGE BACKED SECURITIES





We have a nationalization MONTE PASCHI WILL ASK ITALY FOR PRECAUTIONARY CAP INCREASE






Monte Paschi confirms they are to request state aid --RTRS






While Cabinet approves decree for state aid to various ailing Italian banks including MPS , none of the crucial details made public yet.









Italian cabinet meeting underway to discuss rescue plan for Monte Dei Paschi








MPS reported as asking for state aid.






MPS officially states capital raising efforts failed. At this point , next step is nationalization.







*MONTE PASCHI SAYS FAILED TO RAISE SUFFICIENT FUNDS ON MARKET *MONTE PASCHI: NO INTEREST FROM ANCHOR INVESTORS













DBRS to decide on Jan13 whether to cut . Downgrade would cause significant increase in haircuts on collateral.






Bondholders will probably have to take losses under European burden-sharing rules , the specific terms of "bail in" still not formalized.






EU HAS APPROVED ITALY BANKS DECREE: OFFICIAL






ITALY TO COVER FUNDS MISSING IN PASCHI RECAP: OFFICIAL






Greek PM in Open Confrontation With German FinMin






ESM Asks From Athens Clarifications on Social Aid Package





Differences Over Greece Between IMF-European Commission Intensify





Creditors Decide to Delay Greek Debt Relief Measures







2017 looks like a replay of 2015.....








Abdication of responsibility by various parties...









BREAKING: German broadcaster RBB reports CCTV footage shows Berlin attack suspect Anis Amri visited a Berlin Mosque before and after attack








Dashcam video shows truck rushing towards Berlin Christmas market Dashcam video obtained exclusively by







After the : Tangle of bureaucracy, not failure of government











German citizens become more concerned & Merkel's immigration policies face scorn-how does this get blamed on Putin ?




















US Politics......





Warming relations with Russia perhaps , but relations with China are going to be a hard and tough slog...








Scarborough: "Political landscape looks grim" for Dems








Trump team asks State Dept for names of staffers working on gender equality programs:







TRUMP TRANSITION TEAM SAYS RNC'S SEAN SPICER TO SERVE AS WHITE HOUSE SPOKESMAN







Newt's mouth flew open regarding Trump not wanting to drain the swamp. And a video from followed..









Someone incorrectly stated that the phrase "DRAIN THE SWAMP" was no longer being used by me. Actually, we will always be trying to DTS.






Team Trump really likes Heitkamp, a Dem from ND, and eyed her for more than one cabinet post.







Trump in statement calls for veto of UN resolution on Israel. "Puts Israel in a very poor negotiating position and is extremely unfair."








Kellyanne Conway's new title is counselor to the president, Trump statement says. She'll "message and execute...legislative priorities."









Actually Democrats want someone not named HRC , Biden Sanders , Liz Warren or Dev Patrick !









Odds & Ends......




Turkey.....







Turkey seizes assets of 53 journalists (listed below), including my colleague Zeki Onal, who died in August.










54 journalists have their assets seized -outrageous !








At least 16 Turkish soldiers were killed in Syria in ISIS attack. Total 35 killed since invasion began.








Syria......





Fire work and gun fire in the sky of now, while the last convoys from Fua and Kfarya enter Aleppo with civilians.








The last 150 militants leaving NOW east Aleppo to Ramouseh crossing: is Jihadists and rebels free after four years.







There are no more east or west Aleppo, the city of is no longer divided but united under the control of the Syrian gov.








gov't tells YPG forces to leave , sets deadline to end of this month — Ali Maqsud, military expert close to Syrian Pres says.








34,000 people have been evacuated from East Aleppo since start of operation - ICRC







Looks like a big wave of fighters left E Aleppo overnight....







It seems quite logical for Idlib to become the focus next-it's where the vast number of forces( non-ISIS ) opposed to the Gov't are located.






Overview of Russian campaign in Syria - this is for the period subsequent to the Russian jet being downed by Turkey.









SDF slowly closing in on Raqqa....







Libya.......







U.S. Special Envoy for Jonathan Winer: The U.S. supports 's efforts in seeking to reunite Libyans.









National Oil Corp says production at Sharara oilfield at 58,000 bpd, 1 day after resuming operations.

















PM Serraj arrived in the Southern City of & welcomed by officials, but locals are protesting against his visit with green flag










map: Heightened threat against operations at western region with both inter-militia escalation and terrorist attack a possibility









Our map of Libya's oil installations with the right colors.NB:"control" is tricky word in Libya.For full Quick Guide







Indian stocks on track for longest streak of losses in 21 months - 7 days.







Philippine stocks worst-performer today Index cuts thru 6,600 like a knife through butter. Bond explosion also reported in country's south







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