Thursday, March 2, 2017

Economic News , Data & Views.....March 2 , 2017.....Quick Hits For Thursday -1) Markets : Economic Calendar For Asia ( Friday ) And Market Moving News & Data ; US Markets - US Markets Reverse Giddy Euphoria Of Wednesday As The Three Major Indexes Sell Off Notably , US Bonds & Oil Have Lackluster Days As Well. 2) US Political Front : Lead News Storyline Is Controversy Over AG Sessions Contacts With Russian Ambassador & Recusal From Election 2016 Investigations ; HUD Secretary Ben Carson & Energy Secretary Rick Perry Confirmed & Will Be Sworn In Tonight ; Trump Speech Aboard USS Gerald Ford ; Additional Items Of Note. 3) Europe In Focus : Greece - Startlingly Seeking To Borrow From World Banks , Bailout Rifts Intensify Internally Within Greece , Economic Items , Bailout Talks Drag On ; French Political Updates ; UK Brexit Updates ; Additional Items Of Note. 4) Odds & Ends - Syria , Iraq & Libya In Focus !




Markets....




Asia.....





Economic data due from Asia today - Japan CPI day




Caixin China Feb. Services PMI 52.6 vs 53.1 in Jan. Caixin China Feb. Composite PMI 52.6 vs 52.2 in Jan.







PBOC Drains A Net 280 Bln Yuan For The Week Via Open Market Operations, Versus A Net 155 Bln Yuan Injection Last Week - RTRS






PBoC Fixes USDCNY Reference Rate At 6.8896 (prev fix 6.8809)







New Zealand: ANZ Commodity prices (February): +2.0% m/m (prior -0.1%)





Japan household spending fell 1.2% in Jan. Have a look at the long-term trend. Looks bleak. What you guys think?







1 hour ago
Japan Services PMI Feb: 51.3 (Prior 51.9) Japan Composite PMI Feb: 52.2 (Prior 52.3)






Japan inflation data: Headline National CPI (January) : 0.4% y/y (expected 0.4%)





BoJ Current A/c Holdings: JPY 325.3 Tln (prev JPY 324.7 Tln) - Reserve Balance: JPY 244.6 Tln (prev JPY 243.9 Tln)





Australia AIG Services Index Feb: 49.0 (Prior 54.5)




US.......




Fed's Mester: Wants To Move Rates Up A Bit More Before Shrining Balance Sheet - Rtrs






1 hour ago
Forexlive Americas forex news wrap: Dollar higher again but stocks not..




US stocks close near session lows







1 hour ago
New Fed paper finds 'considerable uncertainty' on FOMC economic projections






US Market Wrap 02-Mar-17:Powell Tables March Fed Hike, Snap Surges On First Day Of Trading






US crude oil futures settle at $52.61/ bbl



US Politics....





Soon the question may become - who didn't talk to the Russian Ambassador ?






Administration split over Paris Accord...






Lesson learned , one would hope.....







Hackers are getting their hands on whatever they like , it would appear..






SECRETARY OF STATE TILLERSON CALLS FOR "FULL REVIEW" OF DEAL: FOX NEWS.







BREAKING: White House proposal cuts the EPA's climate protection budget by 70%






Jared Kushner and General Flynn met with Russian envoy in December, White House says






Attorney General Sessions recuses himself from any existing or future DOJ investigation re : Presidental Campaigns.










Sessions: Russian amb sent a staffer to my office and asked for a meeting. we set up a time. we met w/ him






Sessions: two staffers there, retired army colonels. listened to the ambassador. what his concerns might be. normal things.






Sessions: my recusal should not be interpreted as confirmation of any investigation or scope of any investigation






Inbox: All House Judiciary Democrats call for criminal investigation into Sessions






JUST IN: White House dismisses Sessions recusal calls







LIVE: says no reason for Sessions to recuse himself unless he is the subject of an investigation.




Both HUD sec Ben Carson and Energy sec Rick Perry will be sworn in tonight, Sean Spicer says in gaggle aboard Air Force One.






Senate confirms Rick Perry as Energy Secretary on vote of 62-37; earlier, Ben Carson was okayed as HUD Secy 58-41






TRUMP WEDNESDAY: --visit aircraft carrier USS Gerald Ford, meet with leadership, ship's crew and shipbuilders. --give speech aboard ship.







Trump calls for "great rebuilding" of military while aboard new ship whose construction is delayed and over budget.



Trump promised "12-carrier Navy we need.” Currently 10 carriers in service. Audience of hundreds of shipbuilders roared.







NEW: Putin critic Fiona Hill is White House’s new senior director for Russia, a senior aide confirms. "She wrote 'the book' on Putin."







Europe.....







US Briefing 02-Mar-17: Eurozone Inflation Hits 2% For 1st Time In 4-Years, Fillon Undamaged By Yesterday's News In Opinionway Poll







Greece.....





Greece Gov't now seeking financial assistance from the World Bank ! This is flashing red light...







July deadline for income tax statements







Banks forgive 2.5 bln euros of corporate NPLs in 2016








Rifts appear in government, opposition over bailout stance







EU threatens members with legal action over refugees








Greek Govt Spokesman: Precondition Of Conclusion Of 2nd Review Is Clarity On M-Term Debt Relief – RTRS









Bailout monitors said to resist offsetting measures








France.....






France: ahead of by 2 points in first round of Presidential election (Ifop poll).







Pressure building on Fillon...






Fillon supporters jump sinking ship as calls grow for Juppé to return








Interesting chart. It also confirms how attractive Front National is to disappointed socialist voters.









LafargeHolcim may have "indirectly funneled" money to sanctioned armed groups....








"Undamaged" meaning he hasn't lost further ground....







UK.....





Some of this may fall under "Brexit" but still indicative of the importance of symbolism over substance on immigration 1/2










Gina Miller is considering another legal challenge to the Brexit process







UK PM Spokesman: PM Has Been Clear That Article 50 Should Be Passed Unamended - RTRS








Compare and Contrast: Mandelson quoted in Hansard a few days ago. And Mandelson quoted by the Evening Standard 16 months ago.








Odds & Ends....




Syria....




: Agreement between Russia, Syria and -affiliated Manbij military council reached.








MAP: Manbij Military Council and make an alliance on western ( and are going to work together !)







Turkey issues ultimatum to YPG to leave within a week or else....








Iraq......






official speaks to press, says we have deployed troops to prevent from exporting Kirkuk’s oil to Mosul and Baghdad.









Kurds give Baghdad a week to retract decision to export more oil from Kirkuk or else....









Update: Mosul Operation / West Bank Green = Liberated Yellow = active battles (clashes) Red = ISIL Control 2/3/2017 – 12:00 PM









Udpate 1/3/2017 11pm Mosul Green = Liberated Black = ISIL Control Red = (clashes) Blue : PMU, 9th Divison.







Libya....





1 hour ago







Unity Govt FM Mohamed Taher Siyala meets with FM Sergei Lavrov







offers $700,000 to support the the World Food Programme in








Fayez Serraj meets with Russian FM Sergei Lavrov in













Next neighbouring countries’ conference to be held in Algiers before end of this month -








Tripoli reported tranquil today








Libya's PM designate Serraj today in Moscow. Why did Russians invite him? I spoke with the Financial Times