Markets......
Asia....
On the economic calendar due from Asia today (very little)
#China Markets Reel as $1.7 Trillion in Shadow Funds Unwinds - Bloomberg - https://bloom.bg/2pYtwsm
#China's Hidden Debt Stirs Investor Angst as Defaults Rise - Bloomberg - https://bloom.bg/2oFI2nC
Asian Stocks Extend Global Rally; Yen, Gold Weaken: Markets Wrap - Bloomberg - https://bloom.bg/2pf2S06
North Korea conducts large scale live fire drills
Nikkei 225 closes up +1.08% at 19,079.33
More from China: Rising defaults, hidden debt, banks pull out of investments
S.Korea joint cheifs of staff say the country hasn't seen any N.Korean provocation so far
Japan will be selling an additional 550bn JPY f debt today; on 2/May, will sell 200bn JPY
China fixed Yuan at 6.8833, vs 6.8673, weakens most since March 7
Japan PPI (Services) for March: 0.8% y/y (expected 0.7%, prior 0.8%)
Watch this today. Shanghai Composite closed below its 200-DMA Monday. Last time that happened, it tanked 22% over the next 6 days.
US.....
Nasdaq closes at record levels. Major indices end the with strong gains.
Forexlive Americas forex news wrap: Today was about France and risk off
BBG pre-API/EIA survey:
Crude -1.75mb
Gasoline +1mb
Distillates -1.5mb
Refinery Runs -0.45%
U.S. crude #oil futures settle at $49.23/bbl. 
$0.39. -0.79%. #CME #NYMEX #WTI $CL_M7 #OOTT
volume: ~475k
$0.39. -0.79%. #CME #NYMEX #WTI $CL_M7 #OOTT
volume: ~475kUS Politics......
April 26th has lots of moving pieces. 1st-Operation Gotham Shield concludes. 2nd-full Senate briefing by WH Team on NK. 3rd-DC Terror Drill.
S. Korea, U.S scheduled to stage a combined tactical operation and live-fire drill April 25th.
US clear "redlines" : NK attacks US or Allies military base ; and NK launches ICBM. Murky redline seems another test of nuclear device.
#NORTHKOREA: USS Michigan (SSBN-727), an Ohio-class submarine, is heading to #SouthKorea for a "show of force."
Well , if that is the position of POTUS , Russian sanctions will never be lifted.
Border wall funding looks like it may be pushed back to September.....
Canada Minister Freland & Carr condemn unfair, punitive duties on lumber
Ross: It's been a bad week for US/Canada trade relations
- DJ COMMERCE SECRETARY WILBUR ROSS INFORMED CANADIANS OF PLANNED TARIFF ON MONDAY
- DJ TRUMP ADMINISTRATION PLANS TO IMPOSE 20% TARIFF ON CANADIAN SOFT LUMBER IMPORTS
Canadian companies targeted by tariff are West Fraser Mills, Canfor, J.D. Irving, Resolute FP Canada, and Tolko Marketing and Sales
This is a surprise !
Senate Finance Chair Orrin Hatch, asked by press about Trump goal of 15% corporate tax rate: “You can’t very well balance a budget that way”
Trump administration wants to have infrastructure plan to Congress by summer or fall, Elaine Chao said in Ohio today.
Told Trump is "0 for 10" on his 1st-100-days agenda, Spicer said:
"Right."
Added "done a significant amount" on issues Trump campaigned on
Spicer declined numerous times to say if they expect a vote on health care reform this week. Three questions from @johnrobertsFox alone.
All 100 senators invited to White House campus on Weds for a briefing on North Korea by Tillerson, Mattis, Dunford, Coats, Spicer said.
WHITE HOUSE SAYS NEGOTIATIONS CONTINUE WITH CONGRESSIONAL LEADERS OVER BORDER WALL FUNDING, EXPECTS ANNOUNCEMENT SOON: RTRS
WHITE HOUSE SAYS HEALTHCARE PLAN VOTE IN CONGRESS COULD COME IN FOLLOWING WEEKS
President Trump-Chancellor Merkel on the phone/ discussed Syria, Yemen, N Korea and Ukraine according to the White House
If our healthcare plan is approved, you will see real healthcare and premiums will start tumbling down. ObamaCare is in a death spiral!
TRUMP ON SYRIA: "Council failed again this month to respond to Syria's use of chemical weapons. Great disappointment."
TRUMP ON KOREA: "Status quo in North Korea is also unacceptable & the council must be prepared to impose additional and stronger sanctions"
It appears House Intel Committee's investigation is much further along than Senate Intel Committee's investigation.
Tit for tat responses very likely...
France....
A look at the issues that distinguish Macron and Le Pen....
UPDATE — Le Pen steps down as head of National Front party in attempt to appeal to a wide range of potential voters http://sabahdai.ly/bDjzcd
Le Pen: Tonight, I am no longer the president of NF. I am the presidential candidate. More free, and above partisan considerations.'
Le Pen certainly appears to have a steep , uphill climb - but we shall see how the votes fall on May 7th !
Elabe Poll: Macron 64% vs. Le Pen 36%
CENTRIST MACRON SEEN BEATING LE PEN IN 2ND ROUND OF FRENCH ELECTION BY 60 PCT TO 40 PCT: IFOP.
France 5 year CDS shows extreme collapse ( 40 % at one point ) , after Sunday's first round results.
Le Pen has a plausible path to victory in France. Arrogance would be Macron’s worst enemy. http://nyti.ms/2pXXajZ
Macron - Le Pen TV Debate set for May 3rd. Should be "must see" television for French voters.
UK....
UK Times (4/25/17) - EU wants €2bn from UK to settle claims the UK failed to tackle customs fraud. The EU wants the cash before trade talks.
Tories tipped to win Commons majority of 150 --Tele
So what has he urged?
Tonight's blogpost: UKIP's "Integration Agenda" is a masterclass in legal ignorance and shameless racism
Latest Guardian/ICM poll has Tories on a 'stunning' 48% vs 31% in those seats currently held by Labour on a majority of less than 15%.
Greece....
Greek bond yields tumbled on Monday http://dlvr.it/Nz9TPW
Indirect tax takings compromise Q1 revenues http://dlvr.it/Nz9TCp
Confiscations of debtors’ assets grow, as do fresh debts http://dlvr.it/Nz9TM0
We have seen this movie before..
Athens aims for quick review wrap in bid to change agenda http://dlvr.it/Nz8Gnc
Nursing staff is overstretched, union warns http://dlvr.it/Nz8Gct
67% stake in Thessaloniki port goes to Deutsche Invest Equity Partners & co for €231.9 million #Greece
Death toll from migrant boat sinking in Aegean rises to 16 http://dlvr.it/Nz1CLD
7 more bodies reportedly recovered by Turkish coast guard from same shipwreck #Lesvos; at least 16 dead; search & rescue operation continues
Odds & Ends.....
Chile Quake...
Quake upgraded to 7.1
CHILE'S NAVY SAYS QUAKE HAS NOT GENERATED CONDITIONS LIKELY TO LEAD TO A TSUNAMI ON CHILE'S COAST
Libya....
In south Libya, LNA AF carried out airstrikes against 3rd force & allies in a camp near Sabha airport. No reliable reports about casualties.
Serraj to boost clampdown on fuel smugglers - https://www.libyaherald.com/2017/04/24/serraj-boosts-clampdown-on-fuel-smugglers/ …
Saleh warns downplays significance of his Rome meeting with Sewehli - https://www.libyaherald.com/2017/04/24/saleh-warns-downplays-significance-of-his-rome-meeting-with-sewehli/ …
New candidates for CBL Governor post make presentations to HoR - https://www.libyaherald.com/2017/04/24/new-candidates-for-cbl-governor-post-make-presentations-to-hor/ …
HoR announces new 24-member Political Dialogue Committee - https://www.libyaherald.com/2017/04/24/hor-announces-new-24-member-political-dialogue-committee/ …
Afghanistan...
Car bomb detonated at one of the gates to Camp Chapman , a facility used by US soldiers and miltary contractors.
U.S. defense chief arrives in Kabul as Afghan defense minister resigns in disgrace Just weird https://www.washingtonpost.com/world/us-defense-chief-arrives-in-kabul-as-afghan-defense-minister-resigns-in-disgrace/2017/04/24/b52e8828-28c8-11e7-a616-d7c8a68c1a66_story.html …
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