Markets....
Asia.....
Economic data due from Asia Session today
ASIA WRAP: Mnuchin to take steps to prevent US default, PBOC's Zhou says yuan will be kept basically stable, SK's Park impeached. NFPs ahead
Global bond rout deepens ahead of US jobs report, with US Treasuries heading for their longest slump in more than 40 years. (BBG)
Good morning from Berlin. Asia stocks edged up as March pullback risk appears to subside DESPITE deepening global bond rout. Yen at 1.5m low
South Korea President Ousted following biggest corruption scandals in history. Country can now move onto real fight. https://www.breakingviews.com/considered-view/park-ouster-frees-up-seoul-for-the-real-fight/?h=d8ec9fdf58ef8c4a2f39d54b699ee53b?&SID=577fdc3ae9328bc7748b4f9d&utm_source=Sailthru&utm_medium=email&utm_campaign=Park%20impeachment%2C%20China%20economy%20Fri%2C%2010%20Mar%202017%2003:47%20kgao&utm_term=BV%20-%20Eikon …
Happy Friday! And a very happy nonfarm payrolls day!!
Median forecast among U.S. primary dealers is 200k. Full breakdown >>
#NFP $USD $DXY pic.twitter.com/Kdkq8Ttpqu
ICYMI - China February lending growth slows a little
New Zealand - Electronic card spending (February), Retail -0.6% m/m (expected -0.4%)
US.....
Stocks end the day near unchanged levels
WTI crude futures settle at $49.28 /bbl
Saudi Arabia to US oil firms: Don't assume OPEC will extend cuts
U.S. 30-YEAR TREASURY YIELD HITS HIGHEST LEVEL SINCE DEC 16 - REUTERS DATA
U.S. TREASURY YIELDS EXTEND RISE, 10-YEAR YIELD BREAKS ABOVE 2.60 PCT TO HIGHEST LEVELS SINCE MID-DECEMBER
Bond bubble about to pop? US 5y yields climb to highest since 2011.
US Treasury to suspend sales of state/local debt on March 15
15 March 2017 >>
US Politics....
Trump to nominate investment banker and Marine Corps veteran Richard V Spencer as Navy secretary, I'm told.
http://www.bloomberg.com/research/stocks/people/person.asp?personId=661471&privcapId=1081952 …
Washington , Oregon & New York follow Hawaii in lawsuits against revised Travel Ban....
JUST IN: Washington attorney general says will ask judge to apply injunction on original Trump travel ban order to new travel ban order.
ROAD TRIPS: Trump will visit "several cities" to push the Obamacare repeal bill, Sean Spicer says.
JUST IN: Senate votes to repeal Obama-era education rules http://hill.cm/pQyuYtJ
Trump Campaign announces another political rally by the President next Wednesday evening in Nashville. About a month after 1st rally in FL.
Tax reform now pushed back to Fiscal 2018...
Rand Paul introduces alternative to GOP ObamaCare repeal bill http://hill.cm/1WdfPOG
Europe.....
Catch All...
Jef: Next #ECB presser falls on 27 Apr, between 1st & 2nd rounds of French Pres election. Mkts will have to wait until 8Jun for a real clue.
ECB Monetary policy decisions - press release....
ECB On Hold:
- Refinancing Rate At 0.00%
- Deposit Facility Rate At -0.40%
- Marginal Lending Rate At 0.25%
ECB: Stands Ready To Increase APP In Terms Of Size And/Or Duration
ECB: Rates Seen At Present Or Lower Levels For Extended Period Of Time
Greece......
Greek PM Tsipras: Collective Labor Agreements in Greece are a European Issue http://dlvr.it/NZzh02 #Greece
Greek Social Security System on the Decline http://dlvr.it/NZwYRb #Greece
EU Agriculture Commissioner: Greece will get €19 Bln in 7 Years for Agriculture http://dlvr.it/NZwYN4 #Greece
Metro Closures Thursday, Saturday and Sunday in Athens as Authorities Install New Ticket Barriers http://dlvr.it/NZqS3x #Greece
Measures to be agreed will be fiscally-neutral subject to #Greece meeting 2018 primary surplus target of 3.5% of GDP, gov't spokesman notes.
Progress made in discussions for both measures and counter-measures, talks on out-of-court workout concluded, #Greece gov't spokesman says.
Very close to agreement on 'positive' measures (tax reliefs and increase in social expenditure), #Greece gov't spokesman says.
Both 'positive' and 'negative' measures will be legislated at the same time, #Greece gov't spokesman says.
Following revisions, #Greece #unemployment rate remains stable for the 3rd straight month at 23.1% in Dec. #economy
France ......
Good news: France has just created more jobs than at any time since 2007 http://dlvr.it/NZtw7H
Great run-down of how a presidential hopeful can run for office in France. VERY different from the US! Interesting read...
Swiss bank deems Le Pen 'biggest risk' to Europe http://dlvr.it/NZnJmt
Macron leads Le Pen for first time but his voters are far from sure http://dlvr.it/NZkksD
France, Ipsos poll:
Le Pen (FN-ENF): 27% ↑
Macron (EM-NI): 23%
Fillon (LR-EPP): 20% ↑
Hamon (PS-S&D): 14%
Mélenchon (FG-LEFT): 12%
France, Ipsos poll:
Le Pen (FN-ENF): 27% ↑
Macron (EM-NI): 23%
Fillon (LR-EPP): 20% ↑
Hamon (PS-S&D): 14%... http://fb.me/7AZE6KTPb
France: Second round of Presidential election, Ipsos poll:
Macron (EM-*): 62% (-2)
Le Pen (FN-ENF): 38% (+2)
France: Second round of Presidential election, Ipsos poll:
Fillon: 55% (-7)
Le Pen: 45% (+7)
French election poll - Macron ahead in first round vote
Netherlands.....
Great overview on the Dutch Election from Pieter ! Really great grasp and feel for Dutch political landscape.
Netherlands, Liss poll:
VVD-ALDE: 17%
PVV-ENF: 14%
D66-ALDE: 12%
SP-LEFT: 11%
CDA-EPP: 11%
GL-GREEN: 11% ↑... http://fb.me/8jqJaTXFh
Scotland Poll....
UK: Scottish independence referendum, Ipsos Mori:
Should Scotland be an independent country?
Yes: 50% (+2)
No: 50% (-2)
#indyref2 #Brexit
Euro Summit.....
Antonio Tajani made the case for European unity in his first speech as Parliament President at start of #EUCO summit http://bit.ly/2mL5vWO
Odds & Ends....
#Duesseldorf Correction: 9 injured, one seriously. Axeman from "former Yugoslavia (@guardian ). If not rampage nor terror, what was it?
Terror attack is feared in Dusseldorf as 'axe-wielding man goes on rampage at central train station' http://dailym.ai/2mob3Uw
alle Bahnen stoppen, viel Feuerwehr und Polizei am #Hauptbahnhof #Düsseldorf
Iraq.....
#BreakingNews:
West #Mosul is totally surrounded said #Iraq General Najem al-Jouburi in Mosul and that the road with #Talafar is cut now.
Libya.....
Nassim dairies could close down within two months: Raied - https://www.libyaherald.com/2017/03/10/nassim-dairies-could-close-down-within-two-months-raied/ …
UPDATE 1-Libya's oil output drops to 620,000 bpd -NOC head http://dlvr.it/Nb1WNx
Development of separate Tripoli-based HoR moves forward - https://www.libyaherald.com/2017/03/09/development-of-separate-tripoli-based-hor-moves-forward/ …
Giorgio Starace (Italian envoy to #Libya) says decisions by Tobruk Parliament are not credible & that it doesnt work
http://alwasat.ly/ar/news/libya/135225/ …
Italy seems to be the most visible western power that apparently is supporting PC regarding Oil Crescent conflict.
General Electricity Company takes over headquarters in #Sirte after upgrades & mine clearance in the area. #Libya
http://alwasat.ly/ar/news/libya/135189/ …
#Libya Interim Govt Health Minister Dr. El-Oakley discusses financial position of the medical supply depot in Bayda
http://alwasat.ly/ar/news/libya/135141/ …
Main road in the Gurji area of #Tripoli remains closed after yesterdays clashes. #Libya
http://alwasat.ly/ar/news/libya/135201/ …
Tribes from Cyrenaica reject the PC & the offensive led by SDB, reaffirm their support to LNA, condemn support from international community.
#LIBYA: Dissenting PC member, Ali Gatrani, decries decision to deliver terminals to PFG's Bukhamada https://www.libyaherald.com/2017/03/08/qatrani-condemns-pc-decision-on-handover-of-oil-terminals-to-pfgs-idris-bukhamada/ … via @libyaherald
Aref Nayed criticises US for lack of support for LNA, accuses it of forcing Islamists ... - https://www.libyaherald.com/2017/03/08/aref-nayed-criticises-us-for-lack-of-support-for-lna-accuses-it-of-forcing-islamists-on-libya/ …
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