Wednesday, May 31, 2017

Economic News , Data & Views....May 31 , 2017.....Quick Hits For Wednesday -1) Markets : Asia - Economic Calendar For Thursday , News & Data Of Note - As Available ; US : Dow/ S&P And Nasdaq End In The Red , But Off Lows Of The Day ; Gold Hits 5 Week High , US Crude Ends Regular Session Down A Tad , US Treasuries See Yields Tread Water Today ; API Data Shows Larger Than Expected Draw In Crude Stocks , Oil Price Pops A Bit. 2) UK : General Election Items Including Recent Polling Data ; BBC Debate Snippets / Closing Statements ; Additional Items Of Note. 3) US Politics For Wednesday Including : Russia Congressional Probes Updates ; NAFTA & Trade Updates ; Paris Accord Decision Near For POTUS ; HRC Out Of The Woods To Whine. 3) Broader Europe : Greece - Creditor Talks Updates , Economy & Business Related Items ; Local News From France , Italy & Germany. 4) Odds & Ends : Iraq - West Mosul & Iraq ISIS Battle Updates ; Libya Round Up For Wednesday / Thursday ; Additional Items To Consider.




Markets.......




Asia....



Economic data due from Asia: Japan, Australia capex; BOJ, Fed; China - big day coming




China Caixin manufacturing PMI: 49.6 (expected 50.1)






Australia - April retail sales: 1.0% m/m (expected +0.3%)



Australia Q1 Capex, 'headline' is 0.3% (vs. expected +0.5%)



People’s Bank of China sets yuan reference rate at 6.8090 (vs. yesterday at 6.8633)






Check out Wednesday's move in the Chinese currency.







Japan - Nikkei / Markit Manufacturing PMI for May (final) 53.1 ('flash' 52.0)



More on yesterday's BOJ announcement re JGB buying plans for June




Japan capex data for Q1: +4.5% y/y (expected +4.0%)







Australia (May) manufacturing PMI: 54.8 (prior 59.2)





Australia retail sales data (April) - previews





S Korea CPI May 0.1% m/m vs 0.2% fcast (prev -0.1%) CPI May 2.0% y/y vs 2.0% fcast (prev 1.9%) Core CPI May 1.4% y/y vs 1.4% fcast







NZ terms of trade data for Q1, up 5.1% q/q


US....





Forexlive Americas FX news wrap





US stocks end the day down, but could have been much worse...


WTI Futures Settle At $48.32/Bbl, Down $1.34






1 hour ago
OIL - Private inventory data shows bigger than expected draw in crude stocks



US Yields... 1-Month, 3-Month, 6-Month, 1-Yr: highest levels since 2008. 10-Yr & 30-Yr: near 2017 lows.







1-month Treasury yield ends May at 0.86%, highest level since Sep 30, 2008. Market: 91% chance Fed hikes in June.






UK.....





UK poll, Cons 42, Labour 38 (You GOv)



Sun/Survey Monkey poll has Conservative lead trimmed by 2pts with Cons on 44% (44%) and Labour 38% (36%)







Latest Tory poll leads: YouGov: 3pt Survation: 6pt Kantar: 10pt FT poll of polls: 9pt ICM: 12pt ComRes: 12pt Panelbase: 15pt Help!







1 hour ago
Labour neck and neck with Tories for second in Scotland - poll







EXCL Brussels prepared to postpone start of Brexit talks if Jeremy Corbyn becomes Prime Minister







Time for closing statements (stop cheering)





Amber Rudd: "A vote for anyone other than Theresa May is a vote for Jeremy Corbyn and that coalition [of chaos]"










Angus Robertson: "Our pledge is this: to work every day to make Scotland the best country it can be.”



Jeremy Corbyn: “On 8 June, you have the power to decide: vote Labour – for the many, not the few.”


Replying to 
"On 8 June, it’s your decision, your country, your vote. Vote Ukip," Paul Nuttall says



Theresa May on the defensive over TV election debate snub after Corbyn ambush






LISTEN: Jeremy Corbyn unable to spell out how much Labour childcare policy will cost in painful radio interview





Dutch bank ING to cut Amsterdam trading jobs, move some to London





We shall see how this works out..






Ex-ECJ judge Franklin Dehousse says EU is "exaggerating in its demands for Brexit, especially about future ECJ role"







US Political Round Up...




Russia may be getting its US facilities back...






including subpoenas to FBI, CIA, NSA for any unmasking requests by Samantha Power.





Things Clinton is pointing to for her 2016 loss --> - Comey - Russia - DNC data - misogyny - emails - DNC fundraising - fake news - media






Nothing is ever Hillary Clinton’s fault (especially last year’s election loss)






*DJ HOUSE INTELLIGENCE COMMITTEE ISSUES SEVEN SUBPOENAS IN RUSSIA PROBE, SOURCES SAY





*DJ FOUR RELATE TO RUSSIA INVESTIGATION, THREE RELATE TO 'UNMASKING' CONTROVERSY





*DJ THE GOP-LED COMMITTEE TO TARGET OBAMA ADMINISTRATION OFFICIALS




COMMERCE DEPARTMENT WILL IMPOSE ANTI-DUMPING, ANTI-SUBSIDY DUTIES IN MEXICAN SUGAR, CANADIAN LUMBER CASES IF SETTLEMENT CANNOT BE REACHED





""Gary Cohn, has informed counterparts in European Union nations that the president intends to withdraw"




Questions on Russia to Marc Kasowitz from now on, Spicer says.





Spicer says announcements coming on agreements between Vietnam and U.S. companies-- including GE, Honeywell, Hilton, Caterpillar, UPS.





Breaking: Special Counsel Robert Mueller has cleared James Comey to testify publicly next week, a source close to Comey tells NBC News




Head of Justice Dept fraud section joins Robert Mueller’s probe into possible Trump-Russia collusion



COMEY PLANS TO CONFIRM IN TESTIMONY THAT TRUMP PRESSURED HIM TO END INVESTIGATION INTO FORMER TRUMP ADVISER FLYNN'S TIES TO RUSSIA -CNN,





"Trump admits White House staff is source of damaging leaks"





Broader Europe....





Greece....





Banks to put pressure on strategic defaulters







1 hour ago
Greek/Indian venture aims to start work on Crete airport in early 2018






1 hour ago
Watsa: End capital controls, open up







1 hour ago
Gov’t receives triple warning






Shipowner Marinakis expands his media holdings acquiring the Lambrakis group








1 hour ago
Athens Airport facelift coincides with 20-year concession extension






EU funds to go toward Attica waste facilities





No national rail service Thursday







More yada yada yada from Tsipras...




ESM urges Greece to act fast on reforms to get new bailout loans in June





France...




Macron stands by cabinet ally Ferrand as ethics row rages on





Paris bar owner fined for selling terror attacks video to Britain's Daily Mail newspaper






What you need to know about France's petrol shortages






: stands ready, but there can be no disbursement in July without 's compliance with the Prior Actions list






Italy...





Rome mayor promises to close Roma camps in the capital






Berlusconi hopes to turn love for animals into votes with new pet project







'We barricaded ourselves in': Veteran Italian seaman speaks about his experience of the migrant crisis







Huge job cuts on the horizon at Italy's scandal-hit Ilva steel plant







Germany...





Up to 100,000 asylum cases to be checked after German soldier became refugee






Church creates 'robot priest' to bless visitors in Martin Luther town








Germany postpones deportation of Afghan asylum seekers after Kabul attack






GERMANY FINANCE MINISTRY SPOKESWOMAN WE REJECT EURO BONDS AND MUTUALISATION OF DEBT - RTRS






20,000 homes in Hamburg hit by eight-hour power outage





Odds & Ends.....




Iraq.....




Replying to 
announced that they started operations to clear the : border from south Sinjar all the way down to Al-Qaim.





IMPORTANT has denied reports that claim that forces crossed into & said they are building trenches to restore borders.





booby-trapped civilians cars and filled the streets of Al-Zanjali west in a desperate move to slow down forces advance.






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







Libya...





's security chief hold talks to form new joint security room.





Tarek al-Werfali, Commander in the 'Martyr Salah Berki' Brigade, kidnapped in .






Abdulrahman Swehli receives high level African delegation on in








UNHCR launches appeal for additional $75.5 million in humanitarian aid to






coast guard asks to quickly send spare-parts for boats to keep anti-smuggling operations going







Water and electricity return to Ghat after 45 hours of loss of service.




















Huge queues in front of Jamhouriya banks as ppl wait for cash. Also promised subsidized food hasn't materialized yet.






's Sisi and 's Macron agree to coordinate on







Completion of the reconciliation agreement between Tabu and Tawareq






Catch all...





devalues currency 64%. Says first Dicom forex auction yields rate 2,010 bolivars.














Looks as if Goldman already sold some of their controversial bonds, profiting off nation's despair. 2022 bond dropped 18% in 2d.















Kabul terror attack rises to 90 dead , 400 or so wounded.






ISIS expected to claim massive Kabul blast..







Replying to 
2) Attack appears similar to -claimed suicide operation near US Embassy in earlier this month.





: A Russian warship & submarine fired cruise missiles at IS positions near , military said today - via





Replying to  
: No Russian strikes in proposed 'de-confliction zones' recorded in month of May, according to SOHR.





Replying to  
: 4 Russian strikes on mil hardware/IS fighters who had left Raqa, defence min said. Unclear when strikes happened exactly - via






: Turkey says US arming of Syrian Kurdish militia 'extremely dangerous' - via