Tuesday, January 24, 2017

Economic News , Data & Views ..... January 24 , 2017 ...... Quick Hits For Tuesday - 1) Asia Calendar And News / Data For Tuesday ; US Stocks Hit Latest Record Highs , Treasuries Give Back Gains Today , Oil Books Minor Gains In Regular Sessions , API Report Showing Greater Builds Than Expected Could Weigh On Oil Wednesday ; Additional News Of Note. 2) US Politics - Latest Executive Actions , Confirmation State Of Play For Nominees , Political Fodder for Tuesday. 3) Europe In Focus - Interesting News From Greece , UK , France , Germany & Italy. 4) Odds & Ends - MENA Updates.



Markets.....




Asia.....





1 hour ago
Economic data due from Asia today - Japan trade, Australian CPI




Good morning from Berlin. The Trump trade is in full swing again. Stocks in Asia joined a global rally on investors’ optimism in econ growth







Asia bond yields are rising, follows rise in US & Europe as Jan manu PMIs came in strong & hopes for infrastructure spending increased.







China Development Bank 10-year bond yield shoots above 4%, 1st in 18 months.







Some of you may have missed this. China has effectively started raising rates & tightening policy







Australia CPI (YoY) Q4: 1.5% (est. 1.60%, prev. 1.30%) -CPI (QoQ) Q4: 0.5% (est. 0.70%, prev. 0.70%)








Australia Trimmed Mean CPI (YoY) Q4: 1.6% (est. 1.70%, prev. 1.70%) -Trimmed Mean CPI (QoQ) Q4: 0.4% (est. 0.50%, prev. 0.40%)





Australia Weighted Median CPI (YoY) Q4: 1.5% (est. 1.40%, prev. 1.30%) -Weighted Median CPI (QoQ) Q4: 0.4% (est. 0.50%, prev. 0.30%)





Moody's affirms Australia at Aaa; outlook stable, boosts economy strength score to very high






JUST IN: South Korea preliminary GDP in the fourth quarter grew by 2.3% YoY (est. +2.2%), +0.4% QoQ (+0.3%) Note: Both slowed from 3Q






Japan Trade Balance (JPY) Dec: 641.4B (est. 281.1B, rev prev. 150.8B from 153.0B)





Japanese Trade Balance Adjusted (JPY) Dec: 356.7B (est. 209.9B, rev prev. 466.1B from 536.1B)






Japanese Exports (YoY) Dec: 5.4% (est. 1.10%, prev. -0.40%) -Imports (YoY) Dec: -2.6% (est. -0.80%, prev. -8.80%)






US......





STOCKS HIT ALL-TIME HIGHS: Here's what you need to know









1 hour ago
Treasury yields notch largest daily gain in 6 weeks




U.S. crude futures settle at $53.18/bbl.⬆$0.43. +0.82%. _H7 volume: ~465k








API report shows bigger build than expected...










1 hour ago
Crude: +2927MMbl Gasoline: +4849MMbL Distillate: +1953MMbL Cushing: -145MMbbl








WTI crude oil futures settle at $53.18/barrel




US Politics......












Trump signed directives requiring American-made steel & changing process of approving & regulating future pipeline & infrastructure projects








Possible Trump infra: Reconstruct rail btw NYC/Newark $12B Ohio River dams $3B Bridges on I-95 $8B New air traffc control sys $10B








1 hour ago
TRUMP INFRASTRUCTURE PROJECTS TOTAL AT LEAST $137.5B: MCCLATCHY







The Republican health plan that doesn’t repeal Obamacare




Trump's actions today on Keystone and Dakota pipelines were memoranda, Sean Spicer says. Not executive orders.







Certainly, this secret service agent and anyone thinking the same way , can't remain on detail to protect POTUS.







BREAKING: Trump bans EPA employees from providing updates on social media or to reporters, bars awarding new contracts or grants.






From what I've read about the meeting , it seemed to be a positive meeting.








Big committee day for Trump administration nominations.









Carsons ayed, Sessions delayed, with updated estimate for Sessions' eventual floor vote






Gov. Nikki Haley has been approved by the Senate Foreign Relations Committee for UN Ambassador







Keystone, Dakota Pipelines Back on Tap With Orders: Chart - Bloomberg








James Comey asked to stay on as FBI director by President Trump, sources confirm with CBS News








Ford Chief praises Trump for killing TPP , defined as a bad deal.










The FBI has reviewed intercepts of communications between the Russian ambassador to United States and retired Lt. Gen. Michael T. Flynn 1











Europe in Focus.....




Greece......




EU says will not sign off on Greece bailout review on Thursday








Greece wants Eurogroup to ‘acknowledge progress’ under bailout







Greek government say they are working to close bailout review


UK.....




Parliament must vote to trigger Article 50...








UK PM Spokesman: Parl’t Has Already Indicated Support For Getting On With Brexit Process - RTRS







UK PM Spokesman: Respects Court Decision, Will Set Out Next Steps To Parl’t Shortly - RTRS






UK PM Spokesman: Parl’t Has Already Indicated Support For Getting On With Brexit Process - RTRS





France......





France's Fillon acts to head off scandal over wife's work: PARIS (Reuters) - The frontrunner in…






1 hour ago
FRANCE: Presidential election frontrunner Francois Fillon paid his wife over half million dollars from parliamentary funds








The money looks bad, reports of her not working for that pay is a much larger issue.









Jihadists 'stashed thousands of euros in grave at Paris cemetery'










France, Ifop poll: Le Pen (FN-ENF): 27% ↑ Fillon (LR-EPP): 25% Macron (EM-NI) 18% ↑ Mélenchon (FG-LEFT): 15% ↑...











France, Ifop poll: Le Pen (FN-ENF): 27% Fillon (LR-EPP): 26% ↑ Macron (EM-NI) 20% ↑ Mélenchon (FG-LEFT): 13% ↑...







Germany....





Germany’s Social Democrats back Schulz as candidate to run against Merkel







Berlin activists' cars burned in 'political crimes by far-right'








GERMANY'S GABRIEL SAYS POLICIES OF MERKEL AND SCHAEUBLE CONTRIBUTED TO DEEPENING CRISIS IN EUROPE SINCE 2008, INCLUDING HIGH UNEMPLOYMENT







Vice Chancellor decides not to challenge Merkel in election

















Germany, Civey poll: CDU/CSU-EPP: 37% SPD-S&D: 20% AfD-ENF: 13% LINKE-LEFT: 10% ↑ GRÜNE-G/EFA: 9% FDP-ALDE: 6%







Germany, INSA poll: CDU/CSU-EPP: 33% ↓ SPD-S&D: 21% AfD-ENF: 15% ↑ LINKE-LEFT: 11% GRÜNE-G/EFA: 9% FDP-ALDE: 8%






Italy....





Italy’s Intesa confirms possible bid for insurer Generali







Deadly chopper crash further taxes Italy's first-responders as hotel avalanche toll reaches 16







Italy had the world's 4th largest economy (PPP) in 1980. Today, its economy is ranked 12th.






ITALIAN CONSTITUTIONAL COURT TO RULE ON VALIDITY OF ELECTION LAW AFTER MIDDAY ON WEDNESDAY - COURT SPKS






's Council of State adjourns to decide on constitutionality of controversial electoral law.








MENA......






Libya.....






UK MP acknowledges Hiftar is 'divisive' but goes on ask what "senior military figure in all human history" has not been divisive?









Libyan Dialogue mtg in Tunis, w/out presence of HoR,agree 2 reduce Pres Council to 3 & choose PM from outside PC.But is it valid w/out HoR?









State oil company NOC to hold first US-Libya conference post-Trump inauguration, Washington, Feb 16






could pump over 1.2 million bpd this year with more investment, NOC tells







UN-backed GNA government investment conference, London, January 26.







Syria......






Second round of Syria Talks set for February 8th , will Opposition still In-fighting in Idlib at that time ?








Ahrar statement calls for Sharia court to assess situation in Idleb. Group is deploying forces to separate/stop fighting between rebels.






Six Tu-22M3 long-range bombers carried out airstrikes on ISIS target for the 3rd time in Deir-Ezzor.






Key clash sites: Sarmada Kafranabl Marat al-Numan Marshurin Hurbnish Al-Dana Ehsem Hreitan Al-Halzoum Batabo Saraqeb Ariha Deir Sunbul








UN Stefan De Mistura: decision to establish mechanism for ceasefire & having guarantors involved is "quite an achievement"







: “Whatever it takes us, we will go to stop this bloodshed” — Syrian representative in answers press.






: Bashar Jaafari says “We are trying to find a peaceful resolution to implement the ceasefire. This is the goal.”







Joint Statement on conclusion of Astana Talks - Iran , Turkey & Russia.










Kuwaiti shariah judge in JFS announces resignation due to attacks on Jaish al-Mujahideen








Opposition in-fighting In Idlib has picked up markedly since Monday , as JFS et al vs Ahrar et al commence battle royale....








: Reports may be set to attack the Bab al-Hawa crossing w. , currently controlled by Ahrar al-Sham. FSA: “Idlib is on fire."






JFS has surrounded bases & HQs belonging to FSA - Sham Front in Anadan/Haritan/Hayyan north of Aleppo city





Areas in Idlib countryside; Halzwan, Ariha, Sarmada & Kafrnabel are witnessing clashes/mobilization with Jund vs Ahrar + JFS vs other rebels






Nusra/ AlQaeda are also besieging the weapon stores of FSA group "The Levant Front" in town of Anadan.






Iraq.....





: considers moving embassy to a "war declaration" & calls for a formation of "an army 2liberate Jerusalem










PM Haidar al-Abadi declares ALL east liberated from . West (in photo) will be attacked soon.