Wednesday, April 26, 2017

Economic News , Data & Views....April 26 , 2017.....Quick Hits For Wednesday -1) Markets : Asia Calendar For Thursday , Market Moving News & Data ; US Stocks Ended Session With Small Losses , US Treasuries Lower On The Day , Spot Gold Ends Up 5.35 , US Crude Ends Up 6 Cents. 2) US Politics : House Intel Committee Back On Track Regarding Russia Probe ; NK Briefing Of Senate & Other NK Related News ; HC "Replace & Repeal May Be Back On Track In House Of Reps ; Tax Reform Briefing Of Outline Of Proposal For A Plan ; House Could Pass One Week Gov't Funding Bill - Gov't Shutdown Kicked Down The /Road A Bit ; US Trade Battles With Mexico & Canada Brewing Along ; Additional Items Of Interest. 3) Europe In Focus : French Election State Of Play ; ECB Preview ; EU- Turkey Deal Hangs In The Balance , State Of Play In Turkey Post- Referendum Decision ; Additional Items Of Note. 4) Odds & Ends - Syria , Iraq & Libya In Focus.




Markets.......




Asia ...




Good morning! Asian stocks eased as US tax plan failed to inspire investors. China shares slump as margin debt unwind. Yen lower after BoJ.




Shanghai Comp slumps on a possible margin debt unwind as govt has announced to fight speculation.






10y yields keep at near ZERO as BOJ keeps mon pol unch incl 10y yield target, as expected.




Asia calendar for Thursday. Slim pickings..






PM Shinzo Abe leaves Japan for Russia for a meeting with Putin - Kyodo






Asia begins subdued after weak US lead where Trump's tax plans left much to be desired & failed to provide the impetus many were hoping for







China's Pres. Xi remarks reported overnight - financial safety “strategically important”




Its Bank of Japan day! Here is what time to expect the announcement




Its Bank of Japan day! Here is what time to expect the announcement


US says N.Korea represents an urgent threat to national security




N. KOREA MISSION TO UN SAYS NEITHER FEARS WAR WITH US NOR WANTS TO AVOID IT. WILL REACT TO TOTAL WAR W ALL-OUT WAR, NUCLEAR W NUCLEAR: TASS




US.....






Stocks failed to defend earlier gains, ending lower on the day that news of Trump's tax plan was announced







1 hour ago
Forexlive Americas forex news wrap: Trump tax plan (well outline) released



U.S. crude futures settle at $49.62/bbl. ⬆$0.06. +0.12%. _M7 volume: ~573k






US Politics......





1 hour ago
House Intel Committee getting back to work..





Nunes departure from House Russia probe and Conaway agreement w House Ds has resulted in new access to docs for House Russia investigators





Tillerson & Mattis readout of congress NK briefing: get NK to dismantle nuclear/ballistic missile prog in working w/ allies to incr pressure




"It was a sobering briefing," told White House reporters after senators' briefing. Heard "emerging plan" from admin on N. Korea.





Trump admin has a "clear-eyed diplomatic strategy" that's "well proportioned to the threat," Sen Chris Coons said after North Korea briefing






Senior natl security official at White House briefing says putting North Korea on state sponsor of terrorism "one of the things" considering




Trump admin working with partners to isolate North Korea's nuclear and ballistic missile program from any external support, WH official says




Look at the complexity of equipment that North Korea put on parade. "Even the tires are not made in North Korea," WH official at briefing.




No specific conversation today about seeking authorizations from Congress for any military action, Chris Coons told White House reporters.






WHIP LIST: Where lawmakers stand on the GOP healthcare bill






UN contacted Trump to express concern that ObamaCare repeal would violate global law:






Does Trump want to see a vote on health care bill this week? "Always," he says during Roosevelt Room spray.






WH tells Dems it will keep paying ObamaCare subsidies







WHITE HOUSE PUSHING FOR HEALTH CARE VOTE FRIDAY OR SATURDAY: POLITICO






NEW: GOP moves forward with healthcare plans, but centrists elusive





Mnuchin-Trump Tax Plan would eliminate all individual deductions except mortgage interest and charitable deductions.








1 hour ago
Trump Tax Reform, Spectacular Earnings & and Unlikely Government Shutdown Early





Ryan and McConnell say Trump tax plan to serve as guidepost




Read the one-page summary of Trump's tax plan



SCHUMER SAYS MOVING CLOSER TO BIPARTISAN AGREEMENT TO FUND GOVERNMENT BUT SOME ISSUES STILL NEED TO BE RESOLVED





House could soon pass one-week government funding bill - report

Canada is confident U.S. will lose lumber dispute, the foreign minister says






Some of Trump’s advisers want a dramatic move before Trump’s 100th day in office on Saturday to fulfill a key campaign promise on NAFTA.








WH divided on how for to take NAFTA action, mulling whether to notify of intention to withdraw from NAFTA --BBG






TRUMP CLOSE TO NOTIFYING OF NAFTA WITHDRAWL INTENT: WASH POST






Canadian foreign minister says NAFTA negotiations have not started, Canada is ready to come to the table at any time






US Coalition spokesperson says Turkey didn't give enough detail or time to ensure that its forces would not be hit by Turkish airstrikes.







US tests ICBM , while threatening NK not to test an ICBM...






Europe....






Interesting...







Melenchon still has not endorsed Macron.






Interesting...








Best thing her father can do is not saying stupid things between now and May 7th.






New ammunition for 's Le Pen: French unemployed has risen 1.3% in Mar to 3.51mln, the biggest increase in job seekers since 2013.







As the Conservatives plot power sharing with Macron (man without a political party) via the June Assembly election.











NOTE - The Republicans hope to secure enough National Assembly seats to demand a government role despite the defeat of Francois Fillon.







Path to victory for hinges on absentions..






Nomura on the ECB meeting trade




ECB preview: Is this Draghi's last chance to talk down the euro?



Good piece by on Draghi's stimulus and the part it may have played in EU politics over recent months





Turks are dumping Lira post-referendum and loading up on hard currencies like Dollars and Euros. via








That chart shows how tricky the situation is for 's CenBank: Misery index jumps above 24% as AND keep rising






Lira jumps after Turkey’s CenBank has announced a surprise 50bps rate hike in the Late Liquidity Lending Rate from 11.75% to 12.25%.






  Retweeted
LATEST — Turkey’s Central Bank hikes late liquidity window rate by 50 basis points to 12.25 pct, keeps benchmark rate unchanged







Erdogan continues to threaten to walk away from EU and the EU -Turkey Migrant Deal.









Frontex chief to meet with top ministers on Aegean patrols






Tsipras: Immediate return to markets after review





Parts of Italy to be hit by a month's worth of rain in just 48 hours






No state rescue on the cards for Alitalia






Is the special relationship between Germany and Israel in trouble?






Germany claims it is finally bringing down large trade surplus






Odds & Ends....






REPORT: Power struggle between regime, Self-Administration plays out in region’s largest public hospital.







Replying to  
: SOHR says YPG fired on Turkish military vehicle that had crossed the border into Syria near border town of Darbasiyah - via







Turks, Kurds clash along northeast Syria border: monitor






BREAKING Fighter to me: "All operations in Raqqa and Tabqah were halted, until the coaltion takes action against Turkish attacks."







Replying to 
If you have problems opening the link , try this link to the report.






FM Lavrov in joint press-conference with Saudi FM: We do not see Hezbollah as terror org & IRGC are in Syria by permission of legitimate Gov






Turkish President , PM make phone call to President Barzani, insist that attack on was a "mistake" and "not intentional at all"






Turkish strikes were conducted without proper coordination with the Coalition or the Government of Iraq.













Ali Hibri (Bayda Central Bank Gov): Appointment of new central bank governor is a conspiracy against army.






Head of 's Armed Forces meets w/ Stuart Jones (U.S. Assistant Secretary of State), discuss developments







Ahmed Langhi: political agreement will be amended within two weeks






FM Angelino Alfano: We can not allow to return to chaos, we will continue to move in favor of peace







Fezzan local govt at Temanhint wants forces in base and surrounds to leave. including 3rd force. from






Meanwhile in south Libya, Tebu and Awlad Suleiman held a meeting to find a peaceful solution regarding the deadly clashes in Sabha.







Fresh Suicide case in Bieda city this afternoon. 19 years old girl. Case no. 16 within less 2 months. Bieda#Libya














Tuareg representatives in the constitutional assembly reject consensus committees draft.