Saturday, January 14, 2017

Economic News , Data & Views ..... January 14, 2016 ......Quick Hits For Saturday -1) Markets In Reviews : Doug Noland's Credit Bulletin Provides Overview For "The Week That Was" - Provides All You Need To Know On Markets ; Global Stocks & Bonds Show Gains Last Week ; Italy downgraded From A To BBB At DBRS , Updates on Monte Paschi , Financial Stability Risk Post-Brexit Requires Special Vigilance ( Barnier ) & Additional Brexit Related Items Of Note. 2) US Politics - As Inauguration Days Looms ( Less Than a Week Away ) , Some Hot Stove Political Offerings To Consider Today. 3) India In Focus - RBI Employee Letter Addressed To RBI Governor Patel Lead Item , Demonetization Fallen Off Major Media Radar But Hasn't Gone Away. 4) Odds & Ends To Consider.


Credit Bubble Bulletin: Weekly Commentary: Off to an Interesting Start Must read for Saturday morning from Doug

Good morning from Berlin. Global stocks have gained $201bn in mkt cap this week on supportive econ data. Citi Econ Surprise Index at 7y high

Global bonds have gained $382bn in value this wk as Trump presser gave investors little reason to add to bets that his pol will spur growth.

| Paschi, Atlante Restarted Talks on NPLs - Bloomberg (citing Messaggero)

DBRS Downgrades to BBB (high), Stable Trend - Statement (from Il Sole 24 Ore) -

DBRS downgrades in blow to banking system - fastFT -

UK 's May under more pressure to reveal Brexit plans

Barnier says EU needs "special vigilance on financial stability risk" post-Brexit

When asked on equivalence I said: EU would need special vigilance on financial stability risk, not special deal to access the City

US Politics.....

President-elect Donald Trump won’t send a representative to the annual gathering of the world’s economic elite next week in Davos.

The invitation made to Michael T. Flynn in a Dec. 28 phone call to Flynn by Sergey Kislyak, Russia’s ambassador-as per transition official.

CNN in Trump’s crosshairs:

Was discussing Ukraine interference in Election 2016 earlier this week....

: Trump rips Rep. John Lewis: Worry about your ‘crime infested’ district, not my election

Dissenting nominees give hope to GOP skeptics of Trump:

Trump: "Everything is under negotiation including one China". China: No, "nonnegotiable"

Trump on ‘One China’ policy: ‘Everything is under negotiation’

House takes first step in repealing ObamaCare

Wasserman Schultz confronted Comey in closed door meeting on Russian hacking

Former GOP Congressman Rehberg urges Trump to smooth relations with Turkey and Erdogan - urges Trump Gov't to extradite Gulen.

WATCH: Chaffetz talks subpoena for ethics director

Trump suggested he would be open to lifting sanctions on Russia and wasn’t committed to a longstanding agreement with China over Taiwan.


Govt fully respects ’s independence and autonomy: on union’s allegation

Cash-strapped Bengal govt to enter liquor distribution business

. approves proposal to amend various regulations to enable market participants to make payments to SEBI through digital mode: ANI

. lowers broker fees by 25%, i.e. from Rs.20/- per crore of turnover to Rs.15/- per crore of turnover: ANI

Finance ministry says that it respects the autonomy and independence of the Reserve Bank of India: ANI

RBI employee union letter addressed to RBI Governor Urjit Patel

RBI Employees reminding Urjit Patel and MOF of its autonomy. Unprecedented in RBI history

'Humiliated' By Post-Notes Ban Events, RBI Staff Write To Urjit Patel

‘Humiliated’ by events, do away with interference: RBI staff to governor Urjit Patel

Demonetisation May Affect Demand In Short Term: World Gold Council

Odds & Ends.....

BTCChina announced (and other exchanges allegedly followed) that it had suspended its margin loan service indefinitely. 1

IMAGE: Dubai skyscrapers above the clouds


Now South Tunis suffering blackout as well !

Collapse to electricity grid in led to blackout from east to west although oil production is about 700,000 bpd.

Electricity Company: Total blackout from Ras Ajdir in west to Ajdabia in the east

All Power Plants in the western region, Zueitina and Serir are down. Blackout from Ras Jedir to Ajdabiya and Kufra.


Southern region of Fezzan has witnessed a total blackout for the last four days & continues to suffer. Situation in East is bad too.

witnessing both an electricity blackout and mobilization of opposing forces loyal to GNA & Salvation Gov.

Complete black out in the South of . Power returns for 30 mins after 4 days without power.

By Mohamed Khalil now . Total blackout ?

Total blackout west Libya including Tripoli as power generation collapses. UN-backed GNA government trying to sort it out.

Media report that ~100 people died today in the . In 2017, the sea continues to take the lives of the most desperate.

Man made River repairs completed , normal water service to resume Saturday. Relief for Tripoli regarding fuel shortages on horizon. Clashes between Benghazi Shura Council (BSC) revolutionaries and Khalifa Haftar’s Dignity Operation forces renewed in Busanib district

Malta calls LNA's Commander a "Warlord" , so you know where Malta stands..... Can't blame Russia for destroying Libya though.

Clashes in Gergarish as Rada Forces take down drug lords. Grand Mufti stated that drugs, alcohol & pork is better than Rada

After two hours of intense fighting yesterday, the Special Forces gained new ground in ,

Brega to inspect all petrol stations in its continued anti-fuel smuggling drive -

National Salvation government of Khalifa Ghwell is considering forming an alliance with the government of Abdullah al-Thani & HoR.

GNA “can ensure ministries’ security” insists Maetig, following attempted takeovers by ... -

Europe Political Odds & Ends

Party of Freedom gains coming largely from declines in support for People's Party and Labor Party....

FRANCE: Defence Minister says he expects Russia to conduct a campaign targeting country's elections


map update. Green= liberated and under forces control. Orange= frontline clashes. White= controlled areas.

Those concerned about & "after ", PM Haidar Abadi gave u the answer:"Why u were not concerned of ISIS occupation of Iraq"?

A convoy of 15 vehicles tried 2break their war through al-Hadar, 2escape from east toward but were all destroyed by PMU.

Only few districts east remain following d liberation & cleaning of all Mosul Univ, is condemned n west

Can't wait to see CT liberating Mosul Grand Mosque where stood in 2014 and declared his Caliphate, crumbling today by Iraqi.

Air Force bombed Hit governor building and weapons warehouses in Ana and Rawa province .

Well done Iraq: university completely liberated (in 2 days only) from (only small pockets in few buildings remaining).


Rebels assassinated a retired Syrian army general tasked with reconciliation in WadiBarada, and now kicked out maintenance crew from Spring

Important thread re : water situation for Damascus , Wadi Barada reconciliation process.

The High Negotiations Committee which represents the Syrian Opposition says it supports Astana talks

There was a 3 day meeting which ended yesterday among the Syrian Opposition in Ankara which included political and military representatives

They voiced concerns mainly for ceasefire violations and besieged areas but seem to have come to an agreement with Turkey regarding Astana

| Fierce clashes between and near T4 Airbase

| Russian military aircraft conducted 2 airstrikes near Saraqib

| Fierce clashes between and rebels in the vicinity of Hazrama

| Syrian aircraft carried out several airstrikes on positions in Al Mayadin city

| Clashes between and Islamic factions in Daraa al-Balad. No information on casualties yet

, & Hold Trilateral Talks on Regional Developments

Syrian flag is raised over Ain Al-Fijah's main water facility this morning in wadi region

Agreement between Reconciliation Committee + rebels in Wadi Barada will start when repair of spring is finished

Vehicles that entered Wadi Barada this morning is part of repair team not to transfer militants

Great use of ISW's control map in this report on engineering population swaps in Syria