Thursday, March 30, 2017

Economic News , Data & Views......March 30 , 2017 .......Quick Hits For Thursday -1) Markets : Asia- Economic Calendar , Market Moving News And Data ( Updated Regularly ) ; US : Major Indexes Finish In The Green , Gold Down Handily , Oil Crosses 50 Dollars , Ten Year Treasuries Yields Rise 4 BPs. 2) US Political Round Up : Judge Neil Gorusch Garners Two Democratic Senators Who Will Support His Nomination To The US Supreme Court ; White House Invites Leaders Of Intel Committees To View Certain Classified Documents - In Relation To Ongoing Russia Interference Investigations ; Katie Walsh Leaves White House - Some Say Due to HC Bill Failure ; White House Deciding Whether To Pull Out Of Paris Climate Accord ; Freedom Causcus & Trump Exchanges Words Even As Talk Of Taking Another Crack At Passing Replace & Repeal HC Is Floated , Additional Political Developments To Consider. 3) Europe In Focus : UK News - Brexit Related News Primary Lead , Latest Crazy Statement From EU President Juncker ; France Election Updates ; Additional Items Of Interest Pertaining to Austria , Greece , Ukraine , The ECB And The Ongoing Refugee Crisis. 4) Odds & Ends : South Africa's Political Tensions To Boil With The Sacking Of Finance Minister Gordhan By President Zuma ; Libya : State Of Play On International Front , Tensions On The Homefront.




Markets.....




Asia.....





Economic data due from Asia today - Japan CPI day, China PMis



Good morning from Berlin. Asia stock markets mixed on the final day of a stellar quarter. Dollar index higher but poised for quarterly loss.






China Manufacturing PMI (March): 51.8 (expected is 51.7)




China Service PMI (March): 55.1 (prior was 54.2)






China vice foreign minister says no currency devaluation policy to promote exports




Maybe the BoJ has finally won the fight against . After printing money like crazy, 's CPI has climbed for a 2nd cons month.







Japan headline inflation (February): 0.3% y/y (vs. expected 0.2%)




Japan - (Feb) Overall Household Spending: -3.8% y/y (expected -1.7%) (& more data)






South Korean Industrial Production (YoY) Feb: 6.6% (exp 8.0%; prev 1.7%; rev prev 1.4%)







South Korean Industrial Production (MoM) Feb: -3.4% (exp -0.3%; prev 3.3%; rev prev 2.9%)








1 hour ago
New Zealand Building Consents (permits) for February: +14.0% m/m (prior +0.8%)





US.....






1 hour ago
Reflation Comes Roaring Back From The Dead: Stocks Jump On Strong Dollar, Oil Above $50






Nasdaq closes at record high.





Forexlive America's Forex news wrap: US dollar recovers in NY session


US Politics....





The meeting next week with China will be a very difficult one in that we can no longer have massive trade deficits...





Replying to 
...and job losses. American companies must be prepared to look at other alternatives.






: Second Democrat announces support of Gorsuch






ANOTHER ONE. North Dakota Democratic Senator Heidi Heitkamp joins WV Democratic Sen. Joe Manchin in pledging support for Judge Neil Gorsuch.








FWIW , A House Intel Dem Aide says Michael Flynn has not offered to testify to HPSCI in exchange for immunity. Clear as mud , I see.







WHOA !!!!!!!! Mike Flynn allegedly offers to testify IF given immunity ! ? !










1 hour ago
Trump administration has invited leaders of intel committees to come view certain classified materials.





1 hour ago
In letter to House Intel leaders, White House counsel Don McGahn said he'll help make documents available for committee leaders' inspection.





White House's Don McGahn says in letter hopes intel committee leaders will investigate whether intel in the docs was "properly gathered."






Don McGahn's letter says the docs were discovered by National Security Council staff "in the ordinary course of business."






JUST IN: Two White House officials helped Nunes get Trump surveillance intel: report







Ryan: Nunes source a "whistleblower type"








Spicer says the White House will decide whether to pull out of Paris climate accord by the G7 summit in late May








1 hour ago
Trump to sign bill repealing Obama internet privacy rule







Pence casts tiebreaking vote on rolling back Obama protection for Planned Parenthood






If , and would get on board we would have both great healthcare and massive tax cuts & reform.











Top Trump aide leaves White House following failure of healthcare bill







With Katie Walsh's job shift, any more staffing shakeups expected in the West Wing? "No," Sean Spicer says.






NEW: Trump and Freedom Caucus turn on each other







A GOP leader of the House Freedom Caucus shoots back at President Trump.







The Freedom Caucus will hurt the entire Republican agenda if they don't get on the team, & fast. We must fight them, & Dems, in 2018!






U.S. will appeal injunction of Trump revised travel order







Order granting Plaintiffs' Motion to convert TRO into Preliminary Injunction. Nationwide , Court declines to stay Order if appealed.









Europe.....




UK....






EU president threatens to "break up" the US as revenge for Trump's Brexit support








Friday's FT: "HMRC warns customs risks being swamped by Brexit surge" (via )






Qatar, the UAE, Saudi Arabia, Kuwait, Bahrain and Oman could be first to sign trade agreement with post-Brexit UK






Tomorrow's Daily Telegraph front page today: 'UK will regain power to deport'







Nicola Sturgeon signs letter asking for second Scottish independence referendum





David Cameron was a closet Eurosceptic all along... good





France.....





France's feuding Socialist party left facing the end of the road






France: Presidential election (run-off), Ifop poll: Macron (EM-*): 60% (=) Le Pen (FN-ENF): 40% (=)







France, Ifop poll: Macron (EM-*): 26% Le Pen (FN-ENF): 26% Fillon (LR-EPP): 18% Melénchon (FI-LEFT): 15% ↑ Hamon...






  
Vote for French Presidency still murky..







Melenchon quietly sneaking up on the Fillon for third place...









Additional News From Around Europe Of Note...





[Bloomberg] Draghi's German Problem May Fizzle as ECB Sticks to Its Plan




[WSJ] ECB’s Knot Says Central Bank Could Soon Start Unwinding Stimulus





In Austria's zombie bank news we have: *HETA SAYS 5 CREDITORS ARE STILL SUING FOR FULL BOND REPAYMENT






Don't hold your breath waiting on the IMF to say anything about the backsliding on fighting Ukrainian corruption....










Present calm before the storm ? Former Head of British Embassy in Benghazi says up to 1 million migrants/ refugees on way to Europe...







Bid to get SYRIZA behind deal as eurozone officials meet






DIJSSELBLOEM SAYS NO STAFF-LEVEL AGREEMENT YET ON GREECE







Whether one looks at data from Brandenburg , Hesse or Bavaria , CPI in Germany fell sharply for March....





Odds & Ends....




South Africa....






South Africa Rand keeps sinking as Zuma fires Pravin Gordhan as FinMin. Risks downgrade by rating agencies. 1 notch above junk at S&P, Fitch







South African rand slides amid reports Zuma has fired Treasury head.








SOUTH AFRICA’S ZUMA APPOINTS GIGABA AS NEW FINANCE MINISTER: BBG






Zuma Does remove Pravin Gordhan as Finance Minister - keep your eyes on South Africa.






South Africa political turmoil about to be ratcheted - this on top of Zuma facing mass Cabinet walkout if he fires Pravin Gordhan.







Libya.....






On year on & situation remains tense b/w armed groups in from time to time -1 year Since the arrival of Presidential Council








Arab Summit decision to support the Presidential Council prevents communication with other authorities in







Fayez Serraj discusses developments in 's oil crescent with 's Pres. Sisi







Fayez Serraj meets with 's Deputy Foreign Minister, Mikhail Bogdanov, in Amman.









Pres. Council member Ahmed Hamza discusses securing w/ Gen. Paolo Serra.










Military council statement/Letter to command about the new appointees "Sahban" that is against 17Feb







150 mil Dinars printed in the UK arrive at the Central Bank in .








: The Libyan National Army is the only power authorized to defend all of 's vital installations