Tuesday, April 4, 2017

Economic News , Data & Views ......April 4 , 2017 ......Quick Hits For Tuesday -1) Markets : Asia - Calendar For Wednesday , North Korea Fires Projectile In East Sea As Trump - Xi Set To Meet , US To Deploy THAAD Anit-Missile System In South Korea Despite Chinese Complaints , Data & Additional News Updated As Appropriate ; US - Major Indexes Post Small Gains , Oil Post Moderate Gain & Private Inventory Data Reveals Larger Draw Than Expected , Gold Modestly Lower , Fed Speaker Tarullo Discusses Regulation , No Charges To Be Brought Against Fed's Lacker For Alleged Leaking Information. 2) US Politics : Alleged "Unmasker" Of Trump Team Transition Members Susan Rice On The Hot Seat , Trump - Xi Meeting Will Be A Feeling Out Process For A Key Relationship , Repeal & Replace Faltering AS Revival Talks Seem Stagnant , Additional Items Of Note, 3) Europe In Focus : French Election Data ; Greece Updates On Economy & Regarding Talks With Creditors ; Odds & Ends From Around Europe. 4) Libya Updates - Politics , Security , Economy In focus.




Markets....




Asia,,,,,






Good morning from Berlin. Asia mixed w/ Hong Kong, China & Taiwan higher as Trump-Xi summit looms. N.Korea missile launch dampens sentiment.






Economic data due from Asia today (Fed speaker up soon)



It continues: Shanghai cement makers limit up, HK-listed BBMG another +16% after Monday's 35% jump despite Morgan Stanley cut to underweight








Shares of Chinese building material companies going nuts at the reopen in Shanghai. Cheers to the new "Shenzhen/Pudong" trade








Japanese PM Abe: To Work Closely With US And South Korea Over Missile – Kyodo -Could See Another Provocation From North Korea






So whenever BOJ raises rates , we find out how long the Zombies can keep stumbling around before they topple over ?








Japan Nikkei PMIs: Services 52.9 (prior 51.3) & Composite 52.9 (prior 52.2)






1 hour ago
Australia - Services PMI for March: 51.7 (prior 49.0)




Japan Chief Govt Spokesman Suga: North Korea's Missile Launches Extremely Problematic Action – RTRS







Yonhap- North Korea fires an unidentified projectile in East Sea



South Korean BoP Current Account Balance (USD) Feb: 8400.2M (prev 5377.8M) -BoP Goods Balance (USD) Feb: 10545M (prev 7814M)








1 hour ago
WH Official: U.S. Plans No Change In Deployment Of Thaad Anti-Missile System In South Korea Despite Chinese Complaints







New Zealand data - ANZ job ads for March - higher again


US.....




US stocks squeak out gains in the major indices



OIL - Private inventory data shows bigger than expected draw in headline crude stock





1 hour ago
More from Fed's Tarullo: Fed targets its dual mandates, not specific interest rate








Fed's Tarullo remarks on regulation - nothing on the economy nor monetary policy






No charges will be brought against Fed's Lacker


US Politics....






Susan Rice controversy finally has given Republicans in Congress a viable Democratic target...








WSJ reports former National Security Adviser is on a list of witnesses drawn up by the committee as part of its probe.







Graham accuses Susan Rice of having a history of “political manipulation”







Donald Trump Jr. calls Susan Rice interview denying leaks "fake news"







Susan Rice denies Obama administration inappropriately unmasked Trump team members







Susan Rice denies "unmasking" Trump officials






Senator Rand Paul Calls For Susan Rice To Testify On Unmasking Trump Officials







Something to consider , as this story develops...







1 hour ago
WH Official: North Korea Issue Seen As "Test" For Relationship - Clock Is Quickly Running Out, All Options Are On The Table For Us"






1 hour ago
WH Official: Trump, Xi Meeting Seen As First Step In Results Oriented Relationship






1 hour ago
WH Official:Trump To Discuss With Xi A New "Elevated" Streamlined Framework For Dialogue With "Clear Deadlines For Achieving Results" - RTRS





TRUMP DELEGATION for Xi mtg to include Tillerson, Mnuchin, Ross, Kelly, Mattis, Bannon, Kushner, Cohn, McMaster, Sessions, Bossert, I'm told




Trump's chief of staff, Reince Priebus, will be at Mar-a-Lago for Xi visit, too.





Replace & Repeal Talks Faltering....






Repeal & Replace revival not going to happen swiftly , it would appear.






Europe....




France Election News & Polling...





Macron Seen As Having Best Project For France, Melenchon Second After Debate Among 11 Candidates - Elabe Poll






Melenchon Seen As Most Convincing In French Election Tv Debate, Macron Second - Elabe Poll







Melechon, Macron, Fillion Tied As Most Convincing In French Election Debate – Opinionway






CDS show growing concern. ISDA 2003 CDS outperformed 2014s this yr as latter offer protection against re-denomination risk (via BBG)






Serge Galam, who predicted Trump's unlikely victory, sees a Le Pen win as 'likely'






*FRANCE'S LE PEN SAYS EURO EXIT TO WAIT FOR GERMAN, ITALY VOTES







France, Ipsos poll: Le Pen (FN-ENF): 25% ↓ Macron (EM-NI): 25% ↑ Fillon (LR-EPP): 18% Mélenchon (FG-LEFT): 15% ↑ Hamon (PS-S&D): 10% ↓






France, Opinion Way poll: Le Pen (FN-ENF): 26% ↑ Macron (EM-*): 24% Fillon (LR-EPP): 20% ↑ Mélenchon (FG-LEFT):...






France: Presidential election (run-off), Opinion Way poll: Macron (EM-*): 61% (-2) Le Pen (FN-ENF): 39% (+2)






France: Presidential election (run-off), Opinion Way poll: Fillon: 56% (-2) Le Pen: 44% (+2)






France, Ifop poll: Age: 18-24 Macron (EM-*): 30% Le Pen (FN-ENF): 30% Mélenchon (FG-LEFT): 17% Hamon (PS-S&D): 13% Fillon (LR-EPP): 6%







France, Ifop poll: Age: 65+ Fillon (LR-EPP): 36% Macron (EM-*): 24% Le Pen (FN-ENF): 17% Mélenchon (FG-LEFT): 8% Hamon (PS-S&D): 7%







France, Ifop poll: Change s/ last Mélenchon: +3 Macron (EM-*): +1 Le Pen (FN-ENF): - Fillon (LR-EPP): -1 Hamon (PS-S&D): -3





France, Ifop poll Groups w/ majority, 2nd round vs FN-ENF voters 98% DLF-EFDD vote/ 68 Workers 58 Lowest education level 56






Greece......





EU's Dijsselbloem says meeting Greece made good progress, talks continue Wednesday





Possible deal in coming weeks means not close at present time..






general govt primary cash surplus falls to 2.6 bln in 2-month, arrears up for second month




Squeezed at home, ministers return to Brussels to look for deal with lenders




Meeting of FinMIn, Alt FinMin & Labour Min with institutions' mission chiefs in Brussels tonight, acc to EU sources (via )






. reveals effective (i.e collectable) tax debt at 11.44 bln corresponding to only 12.3% of total figure (92.88 bln).





Odds & Ends From Around Europe....






Why needs euro peg like cod needs bicycle.








*HUNGARIAN PARLIAMENT APPROVES LAW TARGETING SOROS'S CEU








SPAIN'S CONSTITUTIONAL COURT BLOCKS PART OF CATALONIA 2017 BUDGET RELATED TO INDEPENDENCE REFERENDUM - SPOKESWOMAN - Reuters









Rabobank On European Bond Spreads Alongside Tapering








RTRS - GOVERNMENT OF GIBRALTAR SAYS SPANISH NAVY PATROL SHIP MADE ILLEGAL INCURSION INTO GIBRALTAR TERRITORIAL WATERS ON TUESDAY








A 10yr Eurobond would yield between 1.2%-1.6%, according to analysis by








Resigning, First Minister of Murcia says a three-way Cs-Podemos-PSOE coalition could be governing the region "within 48 hours".







CORRUPTION: In resignation speech, as judges press range of fraud charges, First Minister of Murcia talks of honesty, respect, effort.









Libya......












1 hour ago
Transport Ministry looks to reactivation of Zuwara port expansion -






157 migrants rescued off the coast of








Ali Hibri (Head of Central Bank - Bayda) meets with the heads of Southern municipalities








Khalifa Haftar meets w/ Ageilah Saleh, Eastern Military Gov al-Nadouri & Central Bank Chief Ali Hibri at HQ.







Ahmed Maiteeg (Pres. Council VP) discusses reactivating stalled projects between and

























MSF: Detention ctrs in r human warehouses. abused, traded. Get them out, regardless why they came.