Monday, May 22, 2017

Economic News , Data & Views......May 22 , 2017....Quick Hits For Monday-1) Markets : Asia - Economic Calendar For Monday , Market Moving News & Data As It Becomes Available ; US Markets - US Stocks Indexes , Gold , Oil Start Off The Week With Solid Advances Today , Ten Year Treasury Yields Back Up A Tad Today ; Additional Items Of Interest. 2) US Politics : POTUS Trip To Israel - Highlights For Day One , Comey Public Testimony On Hold Until Comey Speaks To Special Counsel ; Russia Probes Heat Up - Flynn , Manafort , Stone & Page In Focus Today ; Obamacare Updates - Insurer Subsidies To Continue For 90 Days While Trump Admin Decides Whether To Seek Appeal ; Additional Items Of Interest.3) Europe In Focus : Greece - EG Meeting Does Not Result In Deal Today On Tranche Disbursement Or Debt Relief , Additional Items Of Note ; Spain - Political Scene Heating Up Again ; UK Political Scene Also Becoming More Interesting As June General Election Comes Into Focus , Race Between Tories & Labor Tightens And PM May Comes Under Pressure. 4) Odds & Ends : Tunisia Protests Become More Heated And Violent ; Libya Updates For Monday ; Mosul Operation Updates ; North Korea News De Jour.



Markets.....



Asia.....




Economic calendar in Asia today ... we get a bonus Fed speaker (actually 2)!






One for the China stock traders - MSCI decision on A-shares due June 20





US.....







1 hour ago
US stocks end the session with decent gains






Forexlive America FX news wrap: Dollar mixed (except against the NZD)





Brent Crude Futures Settle At $53.87/Bbl, Up $0.26




LiveSquawk: WTI Futures Settle At $50.73/Bbl, Up $0.40




*IRAQ PM GAVE OIL MINISTER PERMISSION FOR 9 MOS EXTENSION: FALIH: BBG





Additional Items Of Interest From Financial Sphere...






just hits $2200, up now almost 10% on the day!






US Politics....




If correct , Flynn's problems are deeper than previously known..








Manafort & Stone turn over at least some of requested documents , Flynn to plead 5th , Page hasn't complied yet.






Not surprised that Flynn is not just declining to cooperate w/ Senate Intel Committee subpoena-but also taking 5th.









First on CNN: Mueller has been briefed on some of Comey's memos regarding his conversations with President Trump.






Comey Hearing Delayed...not a shocker...









Spoke with Comey. He wants to speak with Special Counsel prior to public testimony. Hearing Wed postponed.





NEW: James Comey will consult with special counsel Robert Mueller before testifying at Senate Intel Committee, aide confirms to .







Highlights from first day in Israel. 1









Trump visit to Israel highlights.2







Trump hardened stance wins approval from Prime Minister Netanyahu. Highlight 3









President and First Lady visit Western Wall...







Pres Trump and Melania at the Church of the Holy Sepulchre






Delay sought is for ninety days , subsidy payments to continue during period of delay.








Turkey is complaining about protesters faces injuring fists and feet of Erdogan bodyguards apparently. ..





While subject to "Swampland" & media speculation-both Bannon & Priebus returns to DC stated as being "pre-planned."






Greece...


( Much More On Greece Today At Twitter T.L )














Translation - disbursement will be made in time for July loan payments due to ECB and IMF.




Euro Zone Holds Off Releasing New Funds To Greece For Now, No Deal On Debt Relief -Diplomats





No deal on debt for now , prior actions focus between present and June meeting.





A surprise ending - no deal , see everyone come June !






1 hour ago
Contrast between first and second draft noted for primary surplus. But note endpoint of 2060 ! 43 more years..







1 hour ago
IMF research: We can’t accurately forecast GDP growth 2 years out. : we can predict Greek surpluses 43 years from now.







Under 500 euros per month for 1.2 mln pensioners







Savvidis acquires stake in Mega TV as ND cries foul






Dijsselbloem echoes Schauble in declaring no debt relief for Greece before end of current program (June 2018.)









Ground Hog Day for Greece...








After vote on measures, which way next?





Macron tells Tsipras France hopes to ease Greek debt






Germany’s Schaeuble pushes back in Greece debt relief row






UK....





BBC reporting at least 20 dead in Manchester Arena (UK) explosion






UK EXPLOSION - At Manchester arena - During Ariana Grande show - Many confirmed dead






Explosion at Manchester Arena was NOT a balloon explosion. Actual explosion with several dead !







Blast was so strong at Manchester Arena people could feel it hit them in the chest.








UK, ICM poll: CON-ECR: 47% ↓ LAB-S&D: 33% ↑ LDEM-ALDE: 9% UKIP-EFDD: 4% ↓ SNP-G/EFA: 4% Greens-G/EFA: 2% ↓ PC-G/EFA: 0%







1 hour ago
Tuesday's front page






WATCH: Brillo Hammers May on Honesty | No Answer on Social Care, NHS, Immigration | Full Interview Highlights >>






The U-turn is coming across well on BBC1 10 O'clock news. Folk will interpret it as TMay fixing the problem/addressing their worries.






Race between Conservatives and Labour tightens !







Rattled UK PM May forced into 'dementia tax' U-turn after poll lead halves






Theresa May got through that on what she will hope is the worst day by far of this Election campaign. But boy do the Tories need to regroup







Worth remembering Corbyn will be subjected to the same forensic examination by and I suspect it will be equally painful experience







By 2025 all countries remaining in the EU must adopt the Euro, maybe a EU budget aka EU tax. via FAZ (German)





Introducing a week-long series on what WTO would mean




Spain....




Spain, Invymark poll: PP-EPP: 32% ↓ PSOE-S&D: 22% ↑ UP-LEFT: 21% C's-ALDE: 14% ↑






Spain becoming a focal point in Europe once again...









Catalan President Raises Stakes in His Push for Independence





Rajoy cannot call an early election at the moment because Podemos has tabled a motion of no confidence.







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




FULL STORY: Podemos Offers New PSOE Parliamentary Olive Branch As Rajoy Rejects Early General Election In Spain






PSOE + different versions of Podemos = 156 MPs, so they'd need 20 from other parties for a joint motion of no confidence in Rajoy to work.






FULL STORY: Pedro Sánchez Elected New PSOE Leader. El País Compares His Victory To Brexit, Trump, Corbyn.








Odds & Ends....





Tunisia....




Update on clashes today between security forces and protesters -one person dead , 300 sent to the Hospital !







Ominous news from Tunisia...








Libya...





Brak massacre a “war crime” by terrorists that sabotages reconciliation efforts, says Majbri via





NSG blames PC for current crisis in South Libya..





Key interview to Haftar in Egypt's Al Ahram where he outlines his proposals to Serraj. See thread below




Gen Waldhauser: Creation of joint CT force of both backers of GNA & Haftar could be “a positive step frwrd to bring 2 sides together”








'S PRODUCTION HAS RECOVERED TO 788,000 BARRELS PER DAY AFTER POWER PROBLEMS AT EASTERN FIELDS - NATIONAL OIL CORP: RTRS.









Iraq....






ERD has recaptured Mosul Hotel, 3d Bridge and they are very close to recapturing Ibn Sina, and Juhuri Hospitals.







Joint Operations officially announce Al-Najar district west completely liberated by Counter Terrorism Units.









North Korea....



















UPDATE: U.N. Security Council condemns North Korea's latest ballistic missile launch, expresses concern at 'provocative defiance'








U.N.'s North Korea sanctions monitors hit by 'sustained' cyber attack







North Korea says its missile is ready for mass production:







North Korea: New missile an "answer" to Trump's policies