Tuesday, May 16, 2017

Economic News , Data & Views .....May 16 , 2017.....Quick Hits For Tuesday -1) Markets : Asia - Economic Calendar For Wednesday , Market Moving News And Data As Released ; US Market - Another Day Of Mixed Markets With Nasdaq Powering Ahead Again , Dow & S&P Modestly Lower , API Data Drives US Crude Price Lower After The Regular Market Close , US Treasury Yields Generally Lower , Gold Catches A Bid Today And Ends $6.40 Higher. 2) US Political Round Up , Another Crazy Day ( Another Day , Another Scandal Pro-offered ) : Comey Memo Leaked To Press That Alleges Trump Asked Him To End Flynn Investigations Items ; McMaster Stands By Prior Remarks Regarding POTUS Meeting With Russian Officials , Says Communications By POTUS Wholly Appropriate ; FBI Director "Red Hot , Hot Potato" Job Not Sought By Judge Garland , Senator Gowdy Or Senator Cornyn ; Trump - Erdogan Meet At White House ( Would Have Been A Lead Story On Any Other Day ) ; Additional Items Of Note. 3) Europe In Focus On Tuesday : Greece - Economy , Austerity Measures , Appeasing Creditors In Focus ; France - Merkel - Macron Meeting , Gov't Formation Delayed For A Day , Challenges For Macron Moving Forward , Additional Items Of Note ; Germany - Local News , Political Items Of Note ; UK - General Election 2017 Items , Remain / Leave Items . 4) Odds & Ends - North Korea - Aftermath Of Latest Ballistic Missile Test In Focus , Syria Peace Talks , Iraq State Of Play In West Mosul , Libya News De Jour , Unreported ( Western Media ) Saudi Siege Of Shia Town Reaches 7th Day


Markets.....





Asia.....







Economic data due from Asia today ... here is what the RBA will be watching



Good morning from Berlin. Asia markets in risk-off mood on rising concerns over Trump. Dollar index erases almost all post-election gains.







Analyst says Indian banks are in trouble and asset quality is much worse than being let on.














The collapse of Noble Group ! How much China PPT loses? Hedging in Coke/Coking Coal the lethal weapon...






PBOC sets USD/CNY central rate at 6.8635 (vs. yesterday at 6.8790)





Japan data: Machinery orders for March +1.4% m/m (expected +2.5%)



NBS: 's crude output increased 9.9% y/y in Apr to 290m tonnes; daily output at 9.82m tonnes, 150,000 more than Mar





Offshore surging after raised 's fixing to the strongest level in 3 months






1 hour ago
Industrial futures opens mostly higher in , led by , trading near 4% higher








1 hour ago
net inject 10bn yuan via today.






1 hour ago
Replying to 
10-year yield falls back below 2.3%; treasuries well bid in Asia







RISK OFF IN ASIA: Kospi -0.2% Nikkei 225 -0.5% ASX 200 -0.7% USD-JPY 112.58 S&P, Dow, Nasdaq futures -0.6% Gold +0.5% US 10Y yield 2.29%







NZ data - PPI for Q1: Output 1.4% q/q (prior 1.5%) Input 0.8% q/q (prior 1.0%)




ICYMI - Japan data yesterday was soft. Not positive for Thursday's Q1 GDP



US.....





Nasdaq gains. S&P and Dow down marginally.






Forexlive Americas FX news wrap. Dollar the weakest of the major currencies today. Housing weaker.




What would the Red Queen say about all of this ?







Private oil inventory data out - oil price drops



US Political Round Up....



( Much more at Twitter T.L.)






Fox's Bret Baier: No Republicans "willing to go on camera" after Comey memo






Israeli intel "boiling mad" over Trump sharing info: report





*DJ SOURCES: EX-FBI DIRECTOR COMEY WROTE MEMO SAYING TRUMP ASKED HIM TO DROP FLYNN INVESTIGATION




*DJ SOURCES: COMEY MET WITH TRUMP DAY AFTER FLYNN WAS FORCED TO RESIGN





Hear we go , Comey has been given the invitation to the public hearing , he says that he wants.





Chaffetz Demands FBI Hand Over All Comey's Notes, Memos, & Recordings Related To Trump






Comey's Revenge: Leaks Memo To NYT Saying Trump Asked Him To End Flynn Investigation






Welcome to your daily 'latest leak from Washington' post



Replying to 
“What reasons do you have to doubt it?” is a standard for people who have abandoned critical thinking. It is not a useful standard. (1)






House Oversight Committee chair wants Comey memo by May 24




Jake Tapper: CNN was asked by administration to withhold info that Trump shared with Russia






McMaster has to be asking himself " Why exactly did I take this job ? " Trump is going to make him grow hair...









Judge Garland not interested in FBI job: sources






John Cornyn takes himself out of running for FBI post


Replying to 
Trump at event with Turkey's Erdogan: 'Had a very, very successful meeting' with Russian foreign minister. Adds 'our fight is against ISIS.'





Replying to 
Trump at event with Turkey's Erdogan: 'Had a very, very successful meeting' with Russian foreign minister. Adds 'our fight is against ISIS.'





Key items... 2








Key items ...1









Deputy AG: My focus is on the Constitution, not my reputation







McMaster: Real issue is leakers, not Trump revealing intel







White House says Trump info-sharing with Russia ‘wholly appropriate,’ rips leaks






US National Sec Adviser McMaster: Not Concerned That Intelligence Sources Will Stop Providing Information To US After Trump Reports





US National Sec Adviser McMaster: Washington Post Story Is False





US McMaster: No One In The Room Felt Trump-Lavrov Talk Was Inappropriate




US McMaster: We Do Not Specify What Is And Isn’t Classified Information






Replying to 
McMaster: 'The president wasn’t even aware of where this information came from.' Trump not briefed on source, so 'premise' of story false.






Very much FWIW - Fox News identifies DNC staffer Seth Rich as a source of emails to WikiLeaks.







Gowdy withdraws name from consideration for FBI director:





As President I wanted to share with Russia (at an openly scheduled W.H. meeting) which I have the absolute right to do, facts pertaining....




...to terrorism and airline flight safety. Humanitarian reasons, plus I want Russia to greatly step up their fight against ISIS & terrorism.





I have been asking Director Comey & others, from the beginning of my administration, to find the LEAKERS in the intelligence community.....











Europe.....




Greece....




Greek coalition MPs and multi-bill clear first hurdle as tension builds


Eurozone Growth at 1.7% in First Quarter; Greece Is the Only Country in Recession





Public Entities, Unions React Strongly to Greek Gov’t Austerity Measures





Greek gov’t seeks to put positive spin on bill






France.....





Can Merkel and Macron build on a pleasant first date? via






France fines Facebook for collecting users' data without them knowing






Macron delays unveiling government to ensure ministers are squeaky clean






Why does France's president choose a PM and a government before June's elections?








Merkel greeted Macron with pomp that reflected a rare moment of hope for the EU







These are the biggest tasks facing President Emmanuel Macron in France





Germany....





Schoolchildren witness public prosecutor's death in Augsburg






Half of major German companies favour a 'hard' Brexit, study shows





Here's how Merkel's party won a shock victory in North Rhine-Westphalia






Turkey says Germany must choose between Ankara and alleged coup plotters





UK.....






Based on the EU's own figures, and as it stands today, UK taxpayers fund our own government AND the governments of Poland and Slovania.





: Labour is cultivating the politics of envy with its economically illiterate manifesto






ICYMI WATCH Labour frontbenchers flounder on cost of major nationalisation pledges







Tory support on rise in every part of the country, according to huge poll







The Labour Party has released its full manifesto today ahead of the General Election





I always think this is an intuitively powerful point for Leavers; more than both sides recognise. via




David Willetts on Cameron doublechecking the Libdems were against an EUref before he put it in 2015 Tory manifesto




Westminster voting intention: CON: 47% (+3) LAB: 29% (+1) LDEM: 8% (-3) UKIP: 6% (-2) GRN: 4% (-1) (via / 11 - 15 May)







Theresa May and the battle for the Tory party's soul - my latest for













Odds & Ends....





North Korea...





: "Recent nuclear tests and missile launches demonstrate that is a liability for China, not an asset."






A force of North Korean hacker sleeper cells is under new scrutiny after a global cyberattack





GOP Senators to U.N.: Take action on North Korea





US willing to talk to North Korea if missile, nuclear tests stop: ambassador to UN Nikki Haley





UNITED STATES DRAFTS UN SECURITY COUNCIL RESOLUTION IMPOSING STRICT SANCTIONS ON NORTH KOREA - SOURCE: IFX




Syria....





Replying to  
: Government delegation headed by Bashar al-Jaafari has arrived at UNHQ in to meet de Mistura. 6th round has officially opened






First day of talks begin. An overview.









Replying to  
: Opposition HNC delegation currently meeting with UN envoy at UNHQ. They've already made it a bit longer than govt meeting.







State of play updates..




Replying to  
: Two-a-days. Syrian government back at UN at 7:30 for talks with de Mistura, followed by HNC at 9:00 PM.






Iraq....




map update. Green= completely liberated. Orange= frontline clashes. White= control.





ISIS area of control in West Mosul is down to 12 square kilometers.







IMPORTANT Joint Operation officially announced that (16467) militants killed since the start of operation on October 2016






was very well prepared for the battle of but forces well better and all of ISIS tactics couldn't stop forces.








Joint Operations officially announce that 89.5% of city is liberated.






IMPORTANT carried out a surprise assault on after midnight near Al-Qayrawan region west .







Libya....










Ahmed Gaddaf al-Dam: Former Gaddafi supporters looking to participate in politics if elections are held.






LNA marks third anniversary of Operation Dignity with impressive show of force -
























GNA Defense Minister Mahdi Barghathi meets w/ Italian Interior Minister Minniti, discuss developing 's Navy








Official: oil production declines to 739,000 barrels per day due to technical issues






Khalifa Haftar: We will not leave our capital to become a haven for terrorists.






Saudi Arabia....





Not covered by Major media , but Saudi town of Awamiyah under "siege" by security forces. Under-reported siege enters its seventh day










security forces conduct military operation in , killing at least one and injuring over a dozen:















Saudi regime has totally isolated the Shia town Awamiyah with cement blocks! The situation is worsening, residents reporting!







leading military operation in , terrorizing 10ks of civilians & opposing in protecting







Photos: Saudi Arabia Raids Al-Masoura Neighborhood in Eastern Awamiyah Town