Tuesday, May 23, 2017

Economic News , Data & Views ....May 23 , 2017.....Quick Hits For Tuesday -1) Markets : Asia - Calendar For Late Tuesday For US & Asia Wednesday , Market Moving News And Data As It Becomes Available ; US - US Stock Indexes Continue Recent Rally Trend Albeit Modestly Today , Gold Sells Off Moderately , Treasury Yields Head Back Up Again Today , US Crude Higher In Regular Trading But Smaller Draw From API Data Hits Price In After Hours Trading. 2) UK - Post Manchester Attack , PM May Hikes Alert Level To Critical As Further Attacks A Key Concern , Additional News From UK Today. 3) Greece - State Of Play On Creditor Negotiations Post - EG Meeting Of May 22nd , Economic Items On Greece. 4) Europe Broadly - Italy , Germany , Spain , France , EU In Focus. 5) US Politics : US Attack On North Korea Imminent - As Per George Friedman ; US-Libya Interaction Involving AFRICOM Commander ; Brennan Testimony Nuggets From Today's Hearing ; Trump Pushback Item ; Trump Budget DOA Says McCain ; Trump Tweets & Discussion With PM May On Manchester ; Russia Probes Updates ; Additional Items Of Note . 6) Philippines Hit By Massive ISIS Attack , Martial Law Imposed On Part Of Philippines. 7) Odds & Ends For Tuesday. - Qatar , Bahrain , Libya , North Korea , Iraq In Focus



Markets......




Asia.....





1 hour ago
Economic data, Fed, RBNZ & BOJ speakers also, due from Asia today



futures in plunging over 5% after prev 3.1% drop







investory in 45 Chinese ports continued to rise, up 1.49m tonnes to 139.42m last week, 10th consecutive week above 130m (Mysteel)








Composite plunging near 1%






cut 's fixing by 97bp to 6.8758 per USD, vs prev 6.8661






NOBLE GROUP SHARES EXTEND DROP TO LOWEST SINCE 2000







Updated--> Moody's downgrades China, changes outlook





Moody's Downgrades China's Rating To A1 From Aa3 And Changes Outlook To Stable From Negative





Moody's On China: Rating Reflects Expectation That China's Financial Strength Will Erode Somewhat Over The Coming Years






Offhshore weakening agst USD. 's downgraded 's ratings to A1 from Aa3; changed the outlook to stable from negative






Offshore yuan weakens after downgrade from Moody's






Replying to 
And there goes Aussie...







Philippine President Duterte declares martial law in the country's south and we may just have seen the initial reaction in markets. USD-PHP






More corruption uprooted in China...






Offhshore weakening agst USD. 's downgraded 's ratings to A1 from Aa3; changed the outlook to stable from negative






saw a slowdown in rail freight volume growth in Apr, up 15.3% y/y, vs 17.3% growth in Mar and 19.4% in Feb





Japan Reuters Tankan Index May: 24 (prev 26)






China Banks Should Prevent Liquidity Risks – Information Daily





New Zealand Exports (NZD) Apr: 4.75B (prev 4.65B) -Imports (NZD) Apr: 4.17B (prev 4.31B)





New Zealand Trade Balance (MoM) (NZD) Apr: 578M (prev 332M) -Trade Balance (YoY) (NZD) Apr: -3.481B (prev -3.67B)





1 hour ago


New Zealand: Fonterra raise 2016/17 milk price forecast 15 cents to $6.15/kg (NZD)



US....





US stocks end the day with modest gains





ForexLive Americas FX news wrap: Dollar catches a bid




Gold hits the target in $8 slide





OIL - private inventory data shows smaller than expected draw for US crude stocks



UK In Focus....





Bombing suspect reportedly of Libyan descent and returned from Libya three weeks ago, says









Breaking: PM also announces Operation Temperer has been enacted - allowing police to call on immediate help of 5,000 troops.






Troops are to be deployed on UK streets under Op Tempora contingency plans - PM describes this as sensible and proportional response





Sources confirm no national or local campaign for tories tmrw - other parties likely to follow suit





It is possible that a "wider group of individuals" is responsible for the Manchester explosion, Prime Minister Theresa May says.




UK PM May: Change In Threat Level Means Further Attack May Be Imminent




UK PM May: On Basis Of Today's Investigation Threat Level Will Be Increased From Severe To Critical





Manchester bomber is from Al-Abedi family. This is one of the the biggest tribes in East Libya.






Asked how long election campaign would be suspended, PM's spokesman points out it is "until further notice".






This appears to be the most recent statement from G M Police...fwiw.








Informative thread of 3 this morning from Rita re : ISIS claim of responsibility for Manchester.









releases English-language version of claim for bombing






Thread on Manchester to consider...





As mentioned previously , theories on causation likely to change as facts are gathered during an investigation.





A 23-year-old man has been arrested in South Manchester in connection with the Manchester bomb attack, Greater Manchester Police said.






Greece.....






Coalition feeling the heat after failing to secure funds, debt relief






PPC gets shareholder approval for grid spin-off






Aegean Air sees losses grow






Handelsblatt Reporting That German FinMin Schaeuble & IMF Have Reached A Compromise On Greece





Tzanakopoulos says confident Greece will get 'clear' deal in June






Greek government goes full circle with info that it did not accept an agreement offered as it was not specific enough for IMF to participate





BRUSSELS - GERMANY'S SCHAEUBLE SAYS IMF PROVED TO BE DIFFICULT IN NEGOTIATIONS





BRUSSELS - GERMANY'S SCHAEUBLE SAYS IF EVERYTHING GOES WELL, WE WILL GET A DEAL IN THREE WEEKS





Europe Broadly....






BERNANKE: ESSENTIAL TO GET INFLATION UP IN JAPAN. Oh, did the 400% debt/GDP give it away?




Tomorrow's will report on an alleged property scandal involving the secretary-general of Macron's party.






Germany marches ahead: Business Confidence keeps rising (Ifo index now at record high) in tandem w/ benchmark index Dax (near record).







After Brexit, EU plans 'offer you cannot refuse' to expand euro zone: Moscovici






*PROSECUTORS:11 PROPERTIES RAIDED ACROSS GERMANY IN DAIMLER CASE





*DAIMLER RAIDS CONDUCTED BY 23 PROSECUTORS, 230 POLICE OFFICERS





Italian Tsy Official Pagani: Close To Deal With EU On Monte Paschi - RTRS





Italian Tsy Official Pagani: Expects Deal Within A ‘Matter Of Days’, Securitization Deal Being Finalised - RTRS







Spanish King and Queen, Deputy PM, Catalan First Minister hold minute of silence in Barcelona after Manchester Arena attack. Via






LATEST: Podemos motion of no confidence in Mariano Rajoy to be debated on June 13.









EDITORIAL: The Rebirth Of Pedro Sánchez & The Risk For Rajoy







US Politics....





Here are the 66 programs eliminated in Trump's budget







Senate healthcare bill focused on killing ObamaCare Medicaid expansion





Trump called Kim Jong Un “a madman with nuclear weapons”: report







Senate Intel committee issues subpoenas to businesses associated with Michael Flynn







1 hour ago
Trump seeks $1.5 billion for cybersecurity program in budget proposal










Replying to 
Fwiw-action by US against N.K could come sooner , rather than later-George Friedman -Chairman of Geopolitical Futures , previously Stratfor.





Statement from AFRICA Commander regarding PM Serraj meeting.







Brennan from today's Hearing..








BRENNAN: "I encountered ... intelligence that revealed contacts ... between Russian officials and US persons involved in the Trump campaign"






Gowdy: Did evidence exist of collusion between Trump and Russia. Fmr DCIA Brennan: I don't know if such collusion existed






Allegation of pushback on Russia story request made by POTUS , which also was allegedly declined.









McCain: Trump's budget is "dead on arrival" in the Senate






Trump budget: DHS +7% VA +6% Def +5% DOJ -4% Ener -6% Int -11% HUD -13% Trans -13% Ed -14% HHS -16% Labor -20% Ag -21% State -29% EPA -31%




Israel, Saudi Arabia and the Middle East were great. Trying hard for PEACE. Doing well. Heading to Vatican & Pope, then and .




All civilized nations must join together to protect human life and the sacred right of our citizens to live in safety and in peace.





Sen Warner says the Intel Cmte will soon be announcing 'interim steps' in regards to Gen Flynn saying he will not comply w/ their subpoena




Trump said to May looks forward to meeting this week and discussing ways both countries can work w allies around world to defeat terrorism




Trump-May agreed that "attack, which targeted teenage children and their friends at a joyous event, was particularly wanton and depraved"





Philippines....





Replying to 
Martial law in southern Philippines could last a year: Duterte






- Preliminary figures say over 500 Asian -linked jihadis are attacking the city.









- Scene of -linked jihadis setting up checkpoints.








JUST IN: to cut short his trip to Russia due to Marawi situation. SFA Cayetano to stay behind to sign deals.






READ: Statement of Vice President Leni Robredo on Marawi clash






Extended CNN Philippines report on the ISIS incident in . Looks the most serious ever seen in East Asia







Replying to 
controls Prison, Police HQ and the central in the city.





Odds & Ends....




Qatar....



BREAKING: Qatar's official news agency website hacked and pro-Iran and pro-Hezbollah messages posted





Qatar State News Agency allegedly hacked by unknown entity...





Bahrain....





: At least five killed and nineteen wounded in bloody anti-government protests in .





: Clashes renew in the street leading to Sheikh 's house as residents attempt to break the siege |





Statement of people: The forces are isolating Ayatollah Issa Qasim and his destiny remains unknown







Libya....











1 hour ago






Head of AFRICOM says supports EU operations to secure 's borders





The Times of London: Gaddafi family announces support for Marshal Khalifa Haftar.






and the EU agree to intensify dialogue on





North Korea...





More evidence has been found linking North Korea to the global cyberattack earlier this month.





Replying to 
CorrectionUnidentified North Korean projectile flies across the border with South Korea, according to South Korean military






Object was a drone border






South Korea fire shots into





Brazil....





BRAZIL FEDERAL POLICE CONFIRMS ORDER TO ARREST TEMER'S AIDE




Brazil Carwash Prosecutors Press Charges Against Lula: BBG





Iraq....











Made in . Federal police units remote controlled rocket launcher will be used in Old city soon.








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







Joint Operations announced results of a swift ops in west Anbar desert. 43 suicide bomber killed 70 IEDs defused.







Airforce carried out multiple airstrikes on Al-Qaim west Anbar, over 20 high ranking commander killed.






forces put up a ribbon bridge and connected west with east .








images from inside Al-Qayrawan region west after liberated it in a swift night raid.