Tuesday, February 7, 2017

Economic News , Data & Views.....February 7 , 2017.... Quick Hits For Tuesday -1) Asia Economic Calendar And Key News & Data For Wednesday ; US Markets - Stocks Advance Modestly On Tuesday ( Nasdaq At New Record High ) , Oil Off 1.58% In New York , Private Inventory Build Much Larger Than Expected ; USD Climbs After Fed Official Says March On The Table , Yet Treasury Yields Fall Today ; Additional Items Of Note. 2) US Political News Round Up For Tuesday. 3) Europe Updates - France , Greece & Germany In Focus. 4) Odds & Ends.....




Markets.....




Asia.......




Economic data due from Asia today


PBoC Fixes USDCNY Reference Rate At 6.8849 (prev fix 6.8604 prev close 6.8861)





PBoC To Skip Open Market Ops Today





- Yen slides - Asia stocks mixed - Oil slumps - India rate decision






Another inflation surprise for January. 4/ 5 now in Asia. Taiwan CPI up most in a year; wholesale inflation faced to a 5-year high.






Japan Trade Balance BoP Basis (Dec): JPY 806.8 Bln (est JPY 738.9 Bln prev JPY 313.4 Bln)





Japan BoP Current Account Balance Adj (Dec): JPY 1669.2 Bln (est JPY 1709.4 Bln prev JPY 1799.6 Bln)





Japan BoP Current Account Balance (Dec): JPY 1112.2 Bln (est JPY 1183.3 Bln prev JPY 1415.5 Bln)




Summary of Opinions at the Monetary Policy Meeting on January 30 and 31, 2017






US.........






Nasdaq closes at record highs.




CRUDE +14.23mb GASOLINE +2.9mb DISTILLATES +1.37 CUSHING +0.624mb







OIL - private inventory data shows 'much bigger than expected' build



U.S. crude futures settle at $52.17/bbl.⬇$0.84. -1.58%. _H7 volume: ~511k








The dollar is climbing after a Fed official says March is 'on the table'







U.S. 10-YEAR TREASURY YIELDS HIT LOWEST SINCE JAN. 18










US Politics.....






US Appeals Court Ends Hearing Over Trump Travel Ban Without Announcing A Ruling, Judge Will Issue Decision "As Soon As Possible" - RTRS







Trump lawyer getting aggressively questioned by 9th Circuit in travel ban case. “I’m not sure I’m convincing the court," he says






Obama-appointed judge steps in to throw a lifeline to anti-Trump lawyer in 9th Circuit. Bush-appointed judge going hard on his argument.

















FBI reports show terror suspects coming from Canada


Melania Trump reaches a settlement with Webster Tarpley in a major defamation case.









The president has invited Japanese Prime Minister Abe "down to Mar-a-Lago" and the 2 leaders will spend weekend there together, Spicer says.






GOP bill would abolish entire Education department:






SPICER: TRUMP WON'T LET FLOUT VIOLATIONS TO AGREEMENT. IRAN `KIDDING ITSELF' NOT REALIZING NEW PREZ IN TOWN - WH PRESS BRIEF







Spicer says Trump took 7 countries Obama ID'ed as not having proper systems in place to guarantee our safety, because he wants "no regrets."








Asked about budget, Spicer says today they're just excited that Betsy DeVos will be sworn in tonight as Education secretary. Ends briefing.








Breaking: Senate confirms Betsy DeVos as education secretary; Pence casts tiebreaking vote













Trump tells sheriffs meeting at White House his immigration ban "could" go to Supreme Court; "hopefully it doesn't have to."











Let's wait and see how concrete any proposal is , then analysis can be done. On the face , an interesting proposal.















Europe.......




France....





1 hour ago
France, Opinion Way poll: Le Pen (FN-ENF): 25% ↓ Macron (EM-NI) 23% Fillon (LR-EPP): 20% Hamon (PS-S&D) 14%...









France, Ifop poll: Le Pen (FN-ENF): 26% Macron (EM-NI) 21% Fillon (LR-EPP): 19% Hamon (PS-S&D) 15% ↓ Mélenchon...







Latest French Ifop poll shows Macron at 21% in 1st round, Fillon at 18.5%, Le Pen at 25.5%. Macron win at 64% vs Le Pen at 36% in 2nd round.









Is the ECB worried about losing France or concerned Le Pen may win ?









Interesting , shortly after Julian Assange says he has dirt on Candidate Macron - a gay affair rumor surfaces.








Scandal for Fillon , rumor for Macron - so far , Le Pen and Hamon not tainted by either.







Fillon hole gets deeper. Now news of a 45,000 € severance payment , apart from no evidence wife did work.








Moving forward: Fillon 'relaunches' campaign after expenses scandal







SAPIN SAYS THOSE WHO SAY WE WERE WRONG ON TRUMP, WRONG ON BREXIT, SO MARINE LE PEN WILL WIN "DON'T UNDERSTAND ANYTHING ABOUT FRANCE"






FRENCH FINMIN SAPIN SAYS "MARINE LE PEN WILL NEVER BE ELECTED IN FRANCE"






Sarkozy to stand trial over campaign funding , an ill wind that bodes poorly for Fillon....








10y risk spread over Germany keeps rising on increasing political risks in the Eurozone. Risk premium now 77bps, highest since 2012.







Greece.....








1 hour ago
Card payments up by 50 percent in a year







Trade deficit expands along with imports







Investors in Greece fear ‘accident’ as debt payment time nears








Dijsselbloem: IMF Report on Greece ‘Unnecessarily Pessimistic’






And there you have it. Greek 2Y bonds close at just over 10% yield, last closed at over 10% in June 2016








Government Spox Tzanakopoulos: ‘Our Aim Is to Not Yield to Illogical Demands by the IMF’






Germany......





Germany: (ENF) and CDU/CSU (EPP) strong among old people., (S&D) and (G/EFA) strong among younger voters (Civey poll).









Germany, Civey poll: CDU/CSU-EPP: 34% ↓ SPD-S&D: 28% ↑ AfD-ENF: 11% LINKE-LEFT: 8% GRÜNE-G/EFA: 8% FDP-ALDE: 7%








1 hour ago
seeks common ground on trip







*WEIDMANN SAYS U.S. CURRENCY COMMENTS ON GERMANY ARE `DECEPTIVE'












Hundreds more German troops arrive in Lithuania amid Russia fears









1,000s to strike at Berlin airports, causing cancellations and delays








Ouch! 's industrial output unexpectedly falls most in 8yrs. Dec production down 0.7%.









Odds & Ends.....





Libya....























Khalifa Haftar says expects positive attitude from Pres. Donald Trump on and support in fight against terror








Mogherini: EU supports Pres. Council based on UN decisions, can change recognition if Libyans come to new agreement








Exclusive: Tripoli Appeals Court's order shows cancellation of PC's LIA steering committee







Iraq.....






$50 Million Needed to Clear from Explosives: -














Syria....




Turkey is throwing everything it has in this attack on al-Bab after the Syrian Arab Army quickly advanced and is now 5km from the city






Keep the civilians in Al Bab and other ISIS held towns/cities in your thoughts.









: UN special envoy Staffan de Mistura traveled to US, briefed Secretary of State Rex Tillerson on # talks, UN office said today