Friday, March 24, 2017

Economic News , Data & views...... March 24 , 2017 ....... Quick Hits For Friday -1) : US Markets - S&P & Dow Finish Lower , Nasdaq Moderately Higher After GOP Pulls Replace & Repeal HC Bill , Gold & Oil Up Modestly Today Even Though Saudis Going To Be A Non Show At Sunday's Opec - Non Opec Meeting , US Treasuries Yields Tick Higher Today , Additional Items Of Note. 2) US Politics : GOP " Repeal & Replace " HC Bill Pulled For Lack Of Support ; Russia Hack / Interference in Election 2016 Trump Wiretap Claim Updates ; Keystone XL Pipeline Project Approved ; Revised Travel Ban Judge Gets Death Threats ; Tax Reform Moving Toward Front-Burner. 3) Europe In Focus : Interesting News Items From Across Europe , Eurozone Growth Strongest In 6 Years. 4) Odds & End s From Around The Globe.



Markets.......






Global stocks have lost $338bn in mkt cap this week as Trump Trade took big hit. US stocks post worst wk since election as health bill fails








Global bonds have gained $574bn in value this week, equal to GDP of , as weakness in US equities & crude oil weighed on yields.








The S&P 500 and Dow finished lower as Republicans withdrew the health-care bill in a major setback for Trump








This is how Bitcoin is doing today.






Oil prices finished slightly higher Friday, but logged their third weekly loss in a month






U.S. crude futures settle at $47.97/bbl.⬆$0.27. +0.57%. _K7 volume: ~376k






SAUDI ENERGY MINISTER KHALID AL-FALIH WILL NOT BE ATTENDING MINISTERIAL MEETING THIS WEEKEND IN : DJ.







I hate to kill the fun for all watchers, but it seems that Saudi Energy minister is not attending the Kuwait OPEC/non-OPEC meeting







US Treasuries moved higher Yield Check 2-yr: -2 bps to 1.24% 5-yr: -3 bps to 1.93% 10-yr: -2 bps to 2.40% 30-yr: -3 bps to 3.00%






Soft data from US this morning ( US Services & Manufacturing PMI ) , in stark contrast to hot PMI data from Europe.







US Politics .....


( Much More At Tweet Timeline for R&R )



Replace & Repeal Falls Short...




And it outta here !!!!! House pulls HC Bill before the vote !








Initial interview of Donald Trump regarding pulling of HC Bill today !







TRUMP told me he is happy having this in the rearview mirror. "It's enough already," he said of the negotiations.





BREAKING: U.S. House Speaker Paul Ryan on health care bill being withdrawn before vote: "We came really close today, but we came up short."





Ryan: "This is a setback, no two ways about it, but it is not the end of the story." Praises Donald Trump, says president gave his all.




Paul Ryan: "Obamacare is the law of the land. ... We are going to be living with Obamacare for the foreseeable future." Wow.






TRUMP: NOW GOING FOR TAX REFORM, WHICH I'VE ALWAYS LIKED





Taking the high road this, afternoon.....








Post-mortem comments...








"No I'm not betrayed. They're friends of mine. I'm disappointed. Because we could've had it," Trump said of House Freedom Caucus.





Russia Investigation Updates.....




Very helpful for context , worth taking some time to watch the video.





Paul Manafort , Roger Stone and Carter Page have all volunteered to testify before House Intel Committee. Flynn ?





It's been a week of rushed , unscheduled visits to the White House - Nunes , Ryan and now Comey.






The Nunes revelations prove that Trump’s wiretapping allegations should be investigated



Perhaps the open hearing was cancelled due to concerns regarding potential classified or TS information ?






Additional Items - US Politics






Flynn discussed ignoring laws to hand over cleric wanted by Turkish govt.: report








Republican moderates warn Schumer: Don’t call our bluff on nuking the filibuster to confirm Gorsuch







Tillerson will attend NATO meeting he originally planned on skipping






Virginia judge upholds Trump’s temporary travel ban - A federal judge in Virginia has sided with President Trum...





Secret Service employees expected to face discipline over WH fence jumper






Keystone pipeline project approved today..






Any individuals making such threats hopefully are swiftly caught and prosecuted to the fullest extent of the law.








Treasury Secretary shoots for Tax Reform by August recess of Congress.





Europe.....





Very important to read. This woman was castigated unfairly regarding the London Attack.














Not a good look by the EU. Hard to credibly argue for freedom of speech when you ban distribution of a newspaper.







Update on London attack , information on alleged killer to consider.






Goldman Sachs strategist: Yes, Marine Le Pen can win in France






Russia rejects dual citizen ( US & Germany ) Richard Wilcox as UN Envoy to Libya. Back to the drawing board.






Assassination footage. Use appropriate caution in viewing or sharing , not for everyone.






As expected , no resolution on the knotty isssues.







Macron: "fermare la Le Pen nel nome dell'Europa." Macron ha dichiarato apertamente che l'UE per lui viene prima della Francia.
Translated from Italian by 
Macron: "stop Le Pen in the name of Europe." Macron has openly declared that the EU for him comes before France.





France: Presidential election (run-off), Opinion Way poll: Fillon: 57% (=) Le Pen: 43% (=)





France: Presidential election (run-off), Opinion Way poll: Macron (EM-*): 63% (=) Le Pen (FN-ENF): 37% (=)




Fillon really tying to argue his penchant for corruption has nothing to do with his electoral woes....








French Markit Manufacturing PMI Mar P: 53.4 (est 52.4; prev 52.2) -Services PMI Mar P: 58.5 (est 56.1; prev 56.4)




French Private Sector Growth At Strongest In Nearly Six Years – Markit




German Output Growth Strongest In Nearly Six Years In March - Markit




German Markit/BME Manufacturing PMI Mar P: 58.3 (est 56.5; prev 56.8) -Services PMI Mar P: 55.6 (est 54.5; prev 54.4)




Eurozone Markit Manufacturing PMI Mar P: 56.2 (est 55.3; prev 55.4) -Services PMI Mar P: 56.5 (est 55.3; prev 55.5)










SCHAEUBLE SAYS ON DEUTSCHLANDFUNK RADIO GREECE CAN ONLY STAY IN THE EURO ZONE IF IT HAS A COMPETITIVE ECONOMY - Reuters News





GERMAN FINMIN SCHAEUBLE SAYS ON DEUTSCHLANDFUNK RADIO THE CALL TO PUMP MORE MONEY TO EUROPE IS THE WRONG MESSAGE - Reuters News





Odds & Ends....



















Some 240 migrants feared lost off Libya coast -





Protest in demanding the dissolution of the Presidential Council and rejecting military rule.














Indian Politician Labels Bitcoin a ‘Pyramid Ponzi Scheme’, Calls for Regulation







UN-backed government (Tripoli) says proposed Italy migrant deal does not include return of migrants to Libya






Toshiba to file for Chapter 11 Bankruptcy on March 31 , 2017...






Erdogan says Turkey will review EU ties ‘from A to Z’






North Korea set for another nuclear test - awaiting word from Dear Leader ?






Asking for help from Russia rather than China ? Very interesting.....






Justice ministry says Italian migrant MoU did not include more camps -