Tuesday, February 28, 2017

Economic News , Data & Views..... February 28 , 2017.....Quick Hits For Tuesday -1) Markets : Asia Calendar For Wednesday & News / Data Of Note ; US Markets - Stocks Wait Trump's First State Of The Union Speech For Direction , Major Indexes Sell Off Moderately Today ; Additional Items To Consider. 2) US Politics : POTUS Speech Before Congress On Tap ; New Travel Ban Executive Action To Be Unveiled Wednesday ; Obamacare A Focal Point For Congress & POTUS ; Russia & Foreign Policy Another Focal Point - Tonight & In Days/ Weeks Ahead ; Additional Items To Consider. 3) Europe News Round Up : Greece Creditor Talks Updates & Domestic News ; Eurozone Members Would All Remain VS Leave ( Alco Poll ) ; Sturgeon Talks Scotland Referendum ; French Policeman Snipes Innocent Bystanders By Accident At A Hollande Speech ; Additional News Of Note To Consider From Elsewhere In Europe. 4) Odds & Ends.



Markets.....




Asia....





Economic data due from Asia today, BOJ & Fed speakers, and trump speech




Australia - Manufacturing PMI (February): 59.3 (prior 51.2)






1 hour ago
NZ data: Q4 Terms of Trade +5.7% q/q (expected +4.0%)





US......




DOW JONES UNOFFICIALLY CLOSES DOWN 23.80 POINTS, OR 0.11 PERCENT, AT 20,813.64







S&P 500 UNOFFICIALLY CLOSES DOWN 5.96 POINTS, OR 0.25 PERCENT, AT 2,363.79







NASDAQ UNOFFICIALLY CLOSES DOWN 35.95 POINTS, OR 0.61 PERCENT, AT 5,825.95







FOR FEBRUARY, THE DOW GAINS 4.8 PCT, THE S&P ADDS 3.7 PCT, THE NASDAQ UP 3.75 PCT








U.S. 2-YEAR TREASURY YIELD HITS HIGHEST LEVEL SINCE LATE DECEMBER, LAST AT 1.272 PCT - REUTERS DATA







After the bell >> Trump (0210 GMT), Dudley (2100 GMT), Bullard (2345 GMT), API inventories (2130 GMT)







1 hour ago
ForexLive Americas FX news wrap: Dudley hints at hike



Fed hike odds jump on Dudley comments. USD/JPY setting up for a big gain









1 hour ago
More from Fed's Williams: Does not see need to delay on hiking





Fed's Williams on the USD: Value determined by markets, a key input to outlook







Private oil inventory data shows smaller than expected build



API showed a smaller build-up of stocks than expected.






US Politics.....





State of the Oval: Morning Consult/Politico poll puts Trump approval at 50%




Five things to watch for in Trump’s first address to Congress:







How will Trump's address impact the future of Obamacare?





How will tonight's speech impact members of Congress?







Trump gets ready for his biggest sell yet






Travel Ban Executive Action -new and improved E.A set to be issued Wednesday.





Asked about this at gaggle, WH deputy press sec Sarah Sanders said until she's had a chance to speak to Trump, she's not going to speculate






Trump's new immigration/travel executive order still likely mid-week, White House Deputy Press Secretary Sarah Sanders said at gaggle.








Russia becoming impatient , wants Trump to to back up talk regarding fighting ISIS.






Hefty budget cuts ---- 37% to Diplomacy and Foreign Aid.







Per , Sen. Lindsey Graham calls Trump's budget proposal to cut StateDept "dead on arrival." "It would be a disaster," he adds.







Bannon and Ryan, essentially arch-enemies at one point, now speak almost daily by phone, on various topics, sources tell me and






Idea border tax boosts goods “Made in America” resonates with Bannon. Ryan likes it replacing existing 35% tax on companies' global income.





Proposed border-adjustment plan would tax US companies’ domestic sales and imports at a new 20% rate, while exempting their exports.





Trump advisers on border adjustment tax: OPPOSED: Gary Cohn, Mnuchin UNDECIDED: Kushner IN FAVOR: Bannon, Priebus, Miller, Navarro and Ross.





GOP senators demand "full repeal" of ObamaCare







Europe....



EU-Turkey Deal A Sham.....


Must read thread here - EU - Turkey Deal is not an EU deal !






In Mar'16, EU European Council issued a press release: "EU & Turkey today decided to end the irregular migration from Turkey to the EU" 2/




This "EU-Turkey statement" claimed all asylum-seekers arriving in Greek islands wd be returned to Turkey. It turns out this was false. 3/




3 asylum-seekers took a case to the Court of Justice of EU vs the European Council, arguing EU-Turkey deal was illegal 4/





The European Council didn't defend the deal. It said "we didn't make it - the Heads of Member State Govts did!" 5/




European Council didn't press release its disclaimer of the "Not-the-EU-Turkey deal." It stayed quiet - for the 10 months of the cases 6/




But today the EU Court accepted the European Council's denial of responsibility. The Turkey deal is nothing to do with the EU. 7/




For a year, EU institutions pretended the "deal" release abt Turkey had EU authority. See from 3 weeks ago: 8/





EU officials have used their authority to press Greek officials to refuse 1300 asylum claims of Syrians because of the Turkey deal 9/





Today's ruling shows how courts can force politicians & officials to confront and admit their dishonest strategies. 10/



To rebuild confidence, EU institutions should begin with a public apology for misleading the European public and asylum-seekers 11/





Greek Govt must reopen all asylum cases dismissed on basis of the claim of an "EU-Turkey deal", which in truth has no EU authority 12/






Last month the EU Ombudsman called on European Commission to examine human rights compliance under the "deal" 13/



Did the tell the that EU institutions were telling the Court they had no responsibility for Turkey "deal"? 14/






Greece...






Incl depos of 6.3 bln reclassified from private to gen gov as of Dec 2016, Jan depos of 126.05 bln is second highest since May 2015.




Greek govnt spox Tzanakopoulos denies again rift between Tsipras and Tsakalotos. Latter spoke of advance legislation of measures in parlmt





Greek FinMin Tsakalotos tells Parliament he is hoping for a deal by March 20.




Athens, lenders resume talks on Greek bailout review









8 hours ago
Strikes to suspend Athens metro, tram, ISAP on Wednesday and Friday.







Updated Greek Debt Table...








Greece: Eurozone membership referendum, Alco poll: Remain: 76% (-4) Leave: 24% (+4)






STURGEON: NEW INDEPENDENCE VOTE MAY BE ONLY WAY FOR SCOTLAND: BBG




French police sniper manages to accidentally shoot two people at a Hollande speech....




-- 's government summons 's envoy in Berlin over Die journalist Deniz Yücel jailing.





Zakharchenko and Plotnitsky threaten to seize Ukrainian businesses on occupied DNR/LNR territory and stop selling coal to





Support for euro membership, % remain: AT 65% FRA 71% GRE 69% SPA 74% PT 76% BE 77% NL 78% FI 80% DE 84% IRE 90% ITA 59% via







France: Only 47% of PS (S&D) supporters would vote for PS (S&D) candidate in first round of Presidential election (Ifop poll).









France: After the endorsement by party leader , MoDem (ALDE) supporters back (EM-NI) (60%).







Odds & Ends.....




Iraq......





ISIS may literally head to the hills. Leader Baghdadi asks his fighters to go to mountains , as Mosul is falling.












A great thread on West Mosul situation... 21 tweets so far.







hundreds of civilians were killed during the battle to recapture Tayran, Jawsaq.







Urgent : ISF, stop bombing civilians, hundreds were burned alive inside their homes.







ISF is heavily bombing the old city of Mosul. The bombardment is over Al- Sarijkhana, Bab alJidid, Al-Dawasa, and Al-Al-Nabi Sheeth.







Horrible civilian death tolls from bombings to root out ISIS...






Syria.....













IMPORTANT: A deal has been struck between & for further Iraqi air raids inside Syrian territory. Damascus will provide intel.





Trial ballooning on US -Russia cooperation against ISIS and Al Qaeda...







Libya.....






Map of oil pipelines & facilities and the different factions in control as of February 2017








Foreign Minister meets with a delegation from and military officers from western







UN envoy Martin Kobler urges all parties to respect humanitarian law in 's Ganfouda area.









Delegation from the UN mission meets with members of the House of Representatives in .






Egyptian Committee on , headed by Cheif of Staff of the Egypt's Armed Forces, meets w/ delegation from the GNC









Haftar & Farag Barrasi reconciled today after mediation by Ali Qatrani. 2 men having dinner together tonight







Abdularahman Sweihli calls on Int'l community to stop intervention in Libyan affairs during meeting w/ Amb. Millett







hoping for a EU migration agreement with








Both print & radio facing intimidation, closure & seizure of equipment in various -n cities







UN and Unicef deplore child abuse and sexual abuse of migrants in Libya