Wednesday, May 3, 2017

Economic News , Data & Views.....May 3 , 2017.....Quick hits For Wednesday -1) Markets : Asia Calendar For Thursday , Japanese Markets Closed For Holidays , Market Moving News And Data Posted As It Becomes Available ; US - Mixed Markets For Stocks With S&P And Nasdaq Down Today , DOW Slightly Higher , Oil Slightly Higher Despite Turnabout In EIA Data ( When Compared With API Data ) , Gold Off 15 Bucks , US Ten Years Spike Higher , Puerto Rico Files For Largest Municipal Bond Bankruptcy In History. 2) US Political Round Up : House HC Bill Vote May Occur Thursday ; FBI Director Gives Testimony On Russia Hacking & Election 2016 To Senate But Susan Rice Refuses To Testify ; Budgetary Concerns , Travel Concerns & Swampland News . 3) Europe In Focus : French Election Updates With Primary Focus On Macron - Le Pen Debate With Post-Debate Polling Data ; UK-EU Negotiation - Latest Updates On Divisive Start For this Two Steel Cage Match ; Russia - Syria & Turkey In Lead for Russia Related News. 4) Odds & Ends - Venezuela , Syria & Libya In Focus.



Economic data due from Asia today - MOAR China PMIs & RBA

Good morning! Asia stocks retreat, Dollar hold gains following slightly hawkish Fed & soft data. Shanghai Comp drops below key level.

Chinese companies cancelled/put off total 132.6bn yuan worth of in April amid rising borrowing cost (21 Century Business Herald)

Borrowing cost in rose in April, average coupon rate on credits up near 200bp (21 Century business herald)

Caixin Composite (which covers both manufacturing & service) hit 10-MONTH LOW of 51.2 in Apr, vs prev 52.1

's service sector gowth also slowing, Caixin service fell to 11-MONTH LOW of 51.5 in April, vs prev 52.2 and est. 52.6

Probably nothing

1 hour ago
cut 's fixing by 65bp to 6.8957 per USD, vs prev 6.8892

futures PLUNGING in , down over 7% now

Commodities on Chinese exchanges: Iron Ore -7% Rubber -5.5% Copper -2.3% Palm Oil -1.2% Aluminum -0.1%

The deleveraging of China's $4 trillion shadow banking system just accelerated massively as Bank Wealth Product Issuance crashes 15% (MoM)

Number of issued by Chinese banks fell to 10,038 in Apr, 15% lower than 11,823 in Mar, following intensified govt restrictions

PBoC To Inject CNY 30 Bln Via 7 Day Reverse Repos -Inject CNY 10 Bln Via 14 Day Reverse Repos -Inject CNY 10 Bln Via 28 Day Reverse Repos

1 hour ago
Australia Exports (MoM) Mar: 2.0% (prev 1.0%) - Imports (MoM) Mar: 5.0% (prev -5.0%)

1 hour ago

Australia Trade Balance (AUD) Mar: 3107M (exp 3250M; prev 3574M)

Australia HIA New Home Sales (MoM) Mar: -1.1% (prev 0.2%)

New Zealand ANZ Commodity Price Index (MoM) Apr: -0.2% (prev 0.4%)

1 hour ago
ICYMI - Japanese markets are closed today


US major stock indices end the day mixed.

ForexLive Americas FX news wrap: Fed brushes off weak Q1, dollar climbs

U.S. crude futures settle at $47.82/bbl. ⬆$0.16. +0.34%. _M7 volume: ~611k

Local Puerto Rico bondholders say governor & legis leaders have promised to make up their losses in bk

Puerto Rico bankruptcy today. $73B bond debt + $50B unfunded pension promises = $35,406 for every man, woman, and child in Puerto Rico.

Biggest ever Municipal Bond Bankruptcy is underway..

Puerto Rico officially triggers bankruptcy protection proceedings

June rate hike odds jump from 70% to 90%

US Politics....

Imagine that ?

Over 100 House Republicans push to end cap on defense spending

GOP sounds alarm over travel concerns..

News broke during dinner with religious leaders House has votes to pass health care bill, but Trump didn't mention in his remarks, I'm told.

1 hour ago
Here's the one-pager White House aides handed out in briefing room tonight on tomorrow's religious liberty executive order.

1 hour ago
US House Rules Committee Clears Republican Healthcare Bill For Vote By Full House On Thursday – RTRS

BREAKING: US House now expected to vote on revived GOP health care bill Thursday, GOP sources tell -

1 hour ago
No additional amendments expected on health bill tomorrow aside from Upton's, per GOP aide.

1 hour ago
give it another try ➞ GOP Sets Health-Care Bill Vote Thursday Amid Doubts About Count via

1 hour ago
Republican and Democrat aides confirm health care vote scheduled for tomorrow, official announcement expected soon.

Basically, the vote is tight. GOP hopes to pass AHCA tomorrow, but they're still short. The whip operation tonight & tomorrow will be brutal

Upton expects amendment to be posted this afternoon -- and possible floor vote tomorrow. But also says he thinks still a few votes short.

1 hour ago
Obamacare Implosion: Last Major Healthcare Provider Pulls Out Of Iowa Leaving No Options In 2018

Replying to 
Aetna just announced it will leave Virginia's Obamacare market next year, likely creating additional bare counties in 2018.

Asked about weakening guarantee of health coverage for people with pre-existing conditions, Spicer: "We're not. We're strengthening."

GOP 131 yes to 103 no Dem 178 yes to 15 no (via )

Minutes after he said it's "literally impossible" to come out with a complete analysis on its impact.

Email: Trump “directly involved” in post-inauguration hunt for rogue tweeter

This is interesting to note..

What else can he say ?

True. But difficulty is NYT etc has stories that are little more than "wow spies and classified stuff" sometimes too

Comey from his testimony today..

Poll: Voters oppose letting states opt out of requiring coverage of preexisting conditions, 38/50

Wow. Comey says he saw 2 doors on HRC emails, "one was labeled speak, the other was labeled conceal."

This is very serious! Both and Turkey are members of and supposed to work united against . ⤵

Tense call between Tillerson and Cavusoglu - as rumors heat up that Cavusoglu is soon to be replaced....


French Election News....

( Much more On Debate at Twitter Timeline , Just some highlights here )

Macron- Le Pen final televised debate on Wednesday expected to be bitter, personal and potentially decisive ahead of voting this weekend.

30% des électeurs de Mélenchon et 38% des électeurs de Fillon ont jugé Le Pen plus convaincante, selon le sondage d'Elabe pour BFMTV
Translated from French by 
30% of voters of Mélenchon and 38% of the voters of Fillon found Le Pen more convincing, according to the survey of Elabe for BFMTV

Poll's details -Better understanding of people: Macron 55%, Le Pen 45% -More honest: Macron 62%, Le Pen 34% Gap shows no opinion

Post-debate poll's details: -Best project: Macron 64%, Le Pen 33% -More presidential: Macron 64%, Le Pen 33% 1/2

Elabe Poll: Macron Found More Convincing Than Le Pen In French Election Tv Debate With 63% - RTRS

Elabe Poll: 34% Of People See Le Pen Winning Debate

VIDEO - Marine Le Pen on Europe: "I want to organize a referendum to leave the EU in September"

VIDEO - Emmanuel Macron to Marine Le Pen: "you are promoting civil war!"

Reminder: Macron's plan for new EZ gov't parl& budget requires treaty change& GER previously opposed common financing structure


Tell you what is extraordinary: the delusional Brexit divorce settlement.

No deal prospect being observed and at some point will be discounted by markets...

. says the leaks from the dinner were "deliberately timed to affect the outcome of ". Punchy

Juncker won't spend more than 30 mins a week on Brexit, Selmayr says



PM May says Brussels officials , presently unidentified, are meddling in the UK Election..


Trump, Putin signal new effort to cooperate on Syria

LIVE — Putin with Erdoğan: Normalization with Turkey complete, mutual trade stopped falling, is recovering

| Rosneft boosts output 2.2% in Q1, average daily output down 70,000 bpd compared with Oct. Interfax.


Odds & Ends....


Not a good look for Maduro.....

Vergüenza el gobierno apoya a Maduro.Yo soy Boliviano y no apoyo a Maduro.,,,,.
Translated from Spanish by 
Shame the Government supports to Maduro.Yo I'm Bolivian and don't support Maduro. ,,, and .

On top of everything, rumors swirling tonight that Venezuela's most famous political prisoner was rushed to hospital

regime denies media reports in hospital Easy to clear up.Allow wife access to him after preventing for over month

Senador Marco Rubio: I have confirmed has been taken to a military hospital in in very serious condition.

Venezuelan National Guard truck runs over opposition demonstrators in Caracas during violent protests

Venezuela street protests again turn deadly, bringing death toll to more than 30, as overhaul of constitution begins


Replying to  
: De-escalation zones (DZ) aim to "put an immediate end to the violence" & "provide conditions for safe, voluntary return of refugees"

Replying to  
: Russian draft calls for 'de-escalation zones' in rebel-held territory in Idlib, parts of Homs, in Syria's south, & in Eastern Ghouta

Replying to  
: Before suspension of talks, rebels & regime were due to discuss a Russian draft on 'de-escalation zones'. Details below:

Replying to 
: Astana talks remain suspended. Rebel representative tells they had yet to meet with anyone today.

Replying to  
: Rebels had also published a list of 10 demands ahead of talks, inc halt to hostilities, detainee release, humanitarian aid

Replying to 
’s armed opposition has suspended participation in -led talks, in protest at continued regime bombing today.

Replying to 
Earlier, ’s armed opposition issued a list of 10 demands, while warning against violations & ’s complicity: [English]

Replying to 
High ranking JaI commander killed by FaR, JaI say they are unable to retrieve the body due to JaR snipers

After several days of clashes/shelling, SAA have reportedly taken full control of al-Shawmariyah mountain range in east Homs countryside

Replying to 
Colonel defects from Faylaq al-Rahman and joins Jaish al-Islam


Gunmen force 's Mayor to resign at gunpoint after storming a meeting he was holding w/ 's Mayor

's Foreign Ministry welcomes dialogue b/w Libyan parties for a political solution

Mufti call for protests against both Haftar and Serraj is a sign these Talks are substantive.

They seem to be getting along just fine..

MP Abubaker Buera: The Army and Khalifa Haftar seem convinced they can work under civilian leadership.

Banks in receive 50 mil Dinars from 's Central in attempt to ease liquidity crisis

The Guardian: Serraj and Haftar to meet with 's Sisi next week.