Wednesday, January 4, 2017

Economic News , Data & Views .... January 4 , 2016 ..... Quick Hits For Wednesday -1) Markets : Asia Calendar For Thursday , Plus Key Data & News , Bitcoin Continues On Its Tear In 2017 ; US Stocks Continue Winning Ways On Thursday , Retailers ( Macy's and Kohl's Look Grim After Reporting Earnings Though ) ; FX , Oil Items De Jour ; Europe Has Mediocre Day - Minimal Gains In Major indexes , Bond News & Views For Wednesday. 2) Europe In Focus - Key News Touching On EU , UK , Greece , Germany , Italy & More . 3) US Politics - Trumpisms , Transition updates US Politics Broadly. 4) Libya Edges Closer To War Between East & West / GNA - Additional Items Of Note For Libya. 5) Odds & Ends - Iraq , Syria & Additional Items For The Day.


Markets.....




Asia......






APac risk events incl. Chinese Caixin Services & Composite PMI releases, a 10-Year JGB auction & the yuan following the rally in EU/US trade







Economic data due from Asia today - China, Japan PMIs (yes, more)




O/N Hibor rate fixed at 38.335% (prev fix 16.94767%)






PBOC fixes yuan @ 6.9307 (prev fix 6.9498, prev close 6.9306)







CH Caixin Services PMI (Dec): 53.4 (prev 53.1) CH Caixin Composite PMI (Dec): 53.5 (prev 52.9)







Japan Dec PMIs: 
- Manufacturing at a 12-month high - Services at an 11-month high








Here come to Algos again? Euro/USD just popped 60 pips







Another Asia Flush in FX






and now USDJPY is tumbling








USD/Yen..








USD/JPY testing 117.00



To withstand a currency attack China would need between $1.75 trillion (with capital controls) and $2.82 trillion (no capital controls): IMF








And now USDCNH is spiking







JUST IN: Inflation in the Philippines rises to 2-year high








Australia - Services PMI for December: 57.7 (smashing the prior of 51.1)






Massive short-squeeze in offshore yuan during the day session, overnight yuan deposit rates have exploded 31.5% points higher to 45%....







Massive short-squeeze in offshore yuan during the day session, overnight yuan deposit rates have exploded 31.5% points higher to 45%....

















just hits an All-Time high as currency, capital curbs fuel gains in , , . (BBG)








US & Europe.....






DOW JONES UNOFFICIALLY CLOSES UP 57.16 POINTS, OR 0.29 PERCENT, AT 19,938.92






S&P 500 UNOFFICIALLY CLOSES UP 12.58 POINTS, OR 0.56 PERCENT, AT 2,270.41






NASDAQ UNOFFICIALLY CLOSES UP 47.00 POINTS, OR 0.87 PERCENT, AT 5,476.09





*KOHL'S CUTS YEAR FORECAST, SHARES DOWN POST MARKET





KOHL'S SHARES DOWN 8.4 PCT IN EXTENDED TRADE AFTER HOLIDAY SALES RESULTS, OUTLOOK






DJ MACY'S DETAILS PLANS TO CLOSE STORES, CUT 10,100 JOBS






DJ MACY'S CLOSING 68 STORES, INCLUDING 63 IN SPRING 2017








U.S. crude futures settle at $53.26/bbl.⬆$0.93. +1.78%. _G7 volume: ~468k







OIL - inventory survey shows a bigger than expected draw in US crude stocks



| Pres Maduro wednesday names Citgo president Nelson Martinez new petroleum minister, replacing Del Pino. reuters.









CRUDE -7.4mb GASOLINE +4.25mb DISTILLATES +5.24mb CUSHING +0.482mb













ForexLive Americas FX news wrap: Dollar turnaround after FOMC Minutes




US dollar fades down the stretch, stocks stay strong





This guy reckons the bond market will see a worse 'massacre' than 1994




Goldman on TSYs: "We forecast negative total returns, unseen since 2013, with Europe, Japan particularly vulnerable due to low coupons."








Miniscule gains for most European stocks at the close




Europe......





Italy wants EU Agencies to censor the Internet. 2016 Elections/Referendums really shook politicians up , I see.







Theresa May is prepared to pull out of single market unless Britain is given full control of borders: Telegraph








Congrats to my predecessor (but 2), Sir Tim Barrow, on his appt. Huge EU experience + deep knowledge of Eastern Europe








Looks like Sir Ivan Rogers was not trusted any longer. Serving two masters ?








Athens International Airport Achieves Record Passenger Traffic in 2016







Farmers Meet With Minister to Challenge Changes in their Social Security, Taxation





Poll: Greeks Lose Faith in the Euro Currency Bloc








Ayslum claims could triple in 2017 - at what point do these claims overwhelm the court system?









So,now is confirmed: Anis Amri crossed 4 country borders (Netherlands Belgium France Italy) before being killed in Milan (here in Bruxelles)








German investigators say Berlin attacker Amri posed in front of CCTV at a nearby train station just after the attack, doing IS-salute.








Police have raided homes (a refugee shelter and a flat) of two suspected associates of Berlin market attacker Amri.






DJ DEUTSCHE BANK'S ANTI-FINANCIAL CRIME CHIEF TO QUIT -- SOURCE








Meanwhile, in Germany, record high employment and record low unemployment







QE has resulted in the ECB becoming the only marginal buyer of Italian sovereign debt at such low yields







US Politics....






Apart from being very skeptical , Trump looks toward restructure of top Spy & Intel Agencies...







DNC: FBI never examined our hacked servers








In Massive Blow To California Unions, A Second Court Rules That Pension Benefits Can Be Reduced





Ex-Sen Dan Coats frontrunner for director of nat'l intelligence, sources tell me. Also in mix: Fran Townsend, Adm Mike Rogers, John Bolton.







VP ELECT PENCE: PLAN TO PASS TAX REFORM 'BEFORE SPRING'






GOP preparing legislation to defund the UN. Leading the effort in Senate-Graham & Cruz. In the House-Rep Gohmert.








SENATE HAS VOTES TO ADVANCE BUDGET MEASURE AIMED AT OBAMACARE: BBG







VP Pence says Trump plans to roll out Executive Orders , commencing on Day One , to begin Obamacare repeal.







Trump and Pence to meet with CIA's John Brennan, FBI's James Comey, DNI James Clapper Friday on Russia's role in U.S. hacking, per Spicer.







6 string tweet on alleged russian hacking intel briefing & comments/tweets from PEOTUS , regarding same.















VP Pence calls for Obamacare repeal bill by Feb 20th.






Libya.....


( Much More At Twitter T.L , Just Current & Highlights Here. )






Sanallah says Ras Ajdair agreement meant to legalize smuggling














Serraj cancels all unilateral Majabri appointments, insists PC has not failed -






Misrata councils condemn airstrike on Al-Jufra, mobilize troops to fight Haftar’s forces












U.S. State Dept expresses concern about recent military escalation, calls for parties to avoid violence.








Haftar to Italian Newspaper: Libyans are still paying price for Gaddafi's reign.. Saif has no future in politics.









Marshal Khalifa Haftar: Vladimir has confirmed his commitment to lifting the arms embargo on .









Migrant boat heading to Europe leaving from the shores of Tripoli, where the UN backed government controls only a few square km.









President of PC Serraj says that all the appointments made by Fathi al-Majbri in last few days are void & have been cancelled.






GNA Deputy PM Maiteeq seemingly invites Russia to mediate disputes plaguing Libya. Russia the new " Go To Guys " ?









Noteworthy-Ibrahim Bushanaq rejects his appointment as Minister of Justice , despite nomination by PC's Mijibri.1







: Two airstrikes have been reported against in south of , near al Fatayih (سيدي عزيز) & (الظهر الحمر) acc.to reports.







Security Source: LNA Air Force bombards the Tagrift Martyrs Brigade HQ in Houn.







Algerian diplomatic efforts in dealt a blow w/ the surprise resignation of Pres. Council Deputy Moussa Kouni








-IED meant to sabotage Man-Made River line between Bani Walid & al-Shwayrif dismantled. Plenty of activity in this area recently







Black market dollar price wavering btwn 6.30 - 6.40 dinars. Business acq. says its unlikely 2 go down soon.







Meanwhile in , carried out airstrike in al Jufrah region near ag/ "BAM allies" (كتيبة تاقرفت) - reports.







Odds & Ends....





Encouraging progress today across eastern by Iraqi forces along multiple avenues of attack. terrorists trapped, can't resupply






ISIS in desperate financial straits in Mosul these days - extortionist demands placed on citizens under their thumb.







Fukoku Mutual Life replacing 34 claims reps with IBM'S Watson Explorer-three other Japanese Insurers exploring A.I.






 

This is huge/very significant:it means is no longer holding an aggressive stand against . Another shift







Defence Minister Işık: "Coalition forces not supporting the TSK in its al-Bab operation... brings into question the Incirlik Base."






Divergence between offshore and onshore yuan continues to widen...







OFFSHORE REGAINED 6.89, SURGING OVER 700BP OR 1%, BIGGEST ONE-DAY GAIN IN ONE YEAR