Good morning from Berlin. Asia stock mkts declining on a broad Risk-Off theme following the first bigger pullback in US equities for 5 mths.
Government bonds rally in a global risk-off move!
Australia stocks just had their worst day since the US elections. Every industry group down: Miners -2.14%, Financials -2.08%, Energy -1.73%
JUST IN: Kyodo news reporting that North Korea may have launched missiles this morning; details of types of missiles unknown
China's benchmark 7-day money market drop down a massive 64 bps. From over 3% Tuesday, we're now at 2.45%
Economic data due from Asia today - BOJ & RBA speakers
PBoC Fixes USDCNY Reference Rate At 6.8889 (Prev 6.9071)
PBoC To Inject CNY 50 Bln Via 7 Day Reverse Repos PBoC To Inject CNY 20 Bln Via 14 Day PBoC To Inject CNY 10 Bln Via 28 Day
Japan data - February trade balance : Y813.4bn (expected Y807.2bn)
BOJ Minutes (January) - looks like more of the same ...
Australia Auction Of 2028 Bonds: Bid/Cover Ratio:2.19 Yield: 2.8595% Amount Sold: AUD 800m
AUS Skilled Vacancies (MoM) Feb: 0.1% (Prior 1.0%)
AUS Westpac Leading Index (MoM) Feb: -0.07% (prior 0.03%)
Overnight: "PBOC Said to Inject Funds After Missed Interbank Payments"
Iron ore tumbles below $90 after suffering its largest decline this year (via @BIAUS) https://www.businessinsider.com.au/iron-ore-tumbles-below-90-after-suffering-its-largest-decline-this-year-2017-3 … #ausbiz
North Korean envoy ramps up the nuclear weapons development talk
US stocks hit the skids. All major indices down over 1%
Forexlive America forex news wrap: Dollar down. US stocks tumble. Gold up. Yields lower
Oil ticks higher after API numbers
Crude: +4.529MM Gasoline: -4.934MM Distillates: -0.833MM Cushing: +1.968MM
Puerto Rico bond bloodbath just got worse , expect the pain to grow...
Paul Manafort allegedly tied to Putin via a Russian Billionaire....
Electronics ban in place in US & UK stems from itel gained from January Yemen raid-the widely criticized raid may have led to valuable intel
Working while traveling by plane just became much more difficult for some travelers..
Canada also to review on board devices..
TRUMP ADMINISTRATION IS NOT CONSIDERING A CARBON TAX -WHITE HOUSE OFFICIAL
GOP in danger zone with 20 Republicans opposing ObamaCare bill http://hill.cm/Ovuf6D8
Trump warns GOP in closed-door meeting: Repeal and replace Obamacare or lose your seats http://hill.cm/Nr6vZ7b
Will Trump’s support for the health care bill be enough to bring it across the finish line? http://www.realclearpolitics.com/articles/2017/03/17/trump_gop_press_for_coalition_to_pass_health_care_bill_133370.html#2 …
State Department working to reschedule NATO meeting for Tillerson http://washex.am/2mSace1
NATO offered new schedule but Secstate rebuffed. WH doesn't care; thinks we coddle Europeans and NATO anyway.
So S.S had alarm sensors removed and fence jumper happened to pick the right spot to climb...interesting.
I think Roger will get his wish.
In other news , the Captain of Titanic wished he tried harder to turn the boat away from that Iceberg quicker....
This is an alarming bit of news and hopefully someone considers where this could lead and puts a halt to this quickly !
PM May: Rejects demands for Scots Referendum -Times
UK bans tablets and laptops for inbound flights originating from KSA/TUR/JOR/LEB/EGY/TUN.
UK PM MAY TOLD TOP TEAM OF MINISTERS THAT ARTICLE 50 LETTER WILL SET TONE FOR BRITAIN'S RELATIONSHIP WITH REST OF THE WORLD
Tusk calls April Brexit summit, says priority is to make divorce 'least painful for EU'
I will call #EUCO on 29/4 to adopt EU27 Brexit Guidelines. Priority must be certainty, clarity for all: citizens, companies & member states.
Within 48 hours of the UK triggering Article 50, I will present the draft #Brexit guidelines to the EU27 Member States.
ITALY'S PADOAN SAYS DISCUSSED WITH EU'S VESTAGER PRACTICAL APPLICATION OF PRECAUTIONARY RECAPITALISATION FOR MONTE PASCHI BANK
Who's making millions of this smuggling scam ? Answer that question and the Italian Minister brain teaser also will be answered !
Latest refugee scam apparently...
Emmanuel Macron extended his lead in French presidential polls, to 26% of first round votes. Odds for Macron presidential win now 65%. (BBG)
FILLON PROBE SAID TO WIDEN TO INCLUDE FRAUD, FORGERY: LE MONDE
Here's Fillon w Putin & the Lebanese tycoon Fouad Makhzumi who allegedly paid $50k to set this up in St. Petersburg in June 2015 ~@maxseddon
1 - The many Républicains leaders tempted by the idea of a Fillon political euthanasia will have to pause and think...
2 - Acc to French Constitution, if death or "empêchement" (undefined) of a candidate, Constitutional Council must postpone the election
3 - Of course no one knows what "empêchement" is and whether or not voluntary withdrawal would qualify - up to the Const. Council to decide
France: Presidential election (run-off), Opinion Way poll: Macron (EM-*): 61% (+1) Le Pen (FN-ENF): 39% (-1)
France, Opinion Way poll: Le Pen (FN-ENF): 27% Macron (EM-*): 24% ↑ Fillon (LR-EPP): 18% Hamon (PS-S&D): 14% ↑... http://fb.me/1hGDb0Pn7
Wow ! That is quite the statement from the present EG Chief...
Bavarian finance minister sees Grexit likely http://dlvr.it/NhBBbY
SCHAEUBLE - EVEN COUNTERPARTS IN WASHINGTON NOW HAVE UNDERSTOOD THAT DEBT RELIEF FOR GREECE IS NOT POSSIBLE UNDER EU LAW greeceneedstoleave
BRUSSELS-GERMANY'S SCHAEUBLE, ON WHETHER NEXT AID TRANCHE CAN BE PAID TO GREECE WITHOUT IMF PARTICIPATING IN PROGRAMME, SAYS NO
#IMF denies reports it demanded Greek opposition (New Democracy) support for measures
IMF official says that "we have not been seeking any assurances from the opposition"
Odds & Ends.....
Libya’s Crude Production Rises to 699k B/D: State Oil Company
HoR to be in session Monday and Tuesday next week.
Informative thread ( 11 tweets ) on state of play in Misrata...
Italian MP alleges Swehli met with Al Qaeda leaders inside and outside of Libya before recent oil crescent attack.
An imminent attack by BDB militias on the oil crescent...attempt number four! #Libya
Things really shaky between groups in Misrata -threats vs municipal council, TV stations. Salah Badi et al accused.
Potential changes in #UK policy towards #Libya. Statement by The Conservative Middle East Council (CMEC) #LNA http://timesofoman.com/article/105400/Opinion/Columnist/Britain-MPs-meet-Libya-Field-Marshall-Khalifa-Haftar-indicate-policy-shift …
British MP urges London's support for the LNA and HoR - https://www.libyaherald.com/2017/03/21/british-mp-urges-londons-support-for-the-lna-and-hor/ …
Abdurahman Milad, coast guard's chief in Az Zāwīyah, would be *a key figure in the local trafficking trade*, according to analysts.
UPDATE 1-Migrant rescues increase on sea route to Italy - IOM http://dlvr.it/Nh5swd
At least 8 LNA battalion are engaged in *Quicksand Op* to liberate the south - near Sabha, Temanhint, Waddan - from the pro-Misrata militias
State of play in Mosul...
Syria peace talks to resume without U.N. envoy http://dlvr.it/Nh3TnF
Souran has fallen. HTS in full control of it.