Markets.....
Asia....
Economic data due from Asia today (and Australian budget later)
#Shanghai Composite opened 0.4% lower at NEW LOW in over three months
China 10-year yield jumps to highest since July 2015
AU Retail Sales (MoM) Mar: -0.1% Est. (0.30%), Prior (-0.10%)
AU Retails Sales Ex-inflation (QoQ) Q1: 0.1% Est. (0.50%), Prior (0.90%)
IMF Says Accommodative Policies To Underpin Domestic Demand In Asia-Pacific Region - RTRS
IMF Warns of "Significant Uncertainty" To Near-Term Economic Outlook for Asia-Pacific - RTRS
Take note if you're applying for a loan in China.
BOJ's Kuroda: Aggressive monetary easing still necessary
Japan - Labour cash earnings (March): -0.4% y/y (expected +0.5%)
China May See Trade Deficit In 2017 As Imports Grow – 21st Herald
Australia press: Ratings agency Moody's puts federal government on notice
Japan's Abe To Ask Trump To Not Withdraw From Paris Pact: Kyodo
Australia budget day - preview
IMF on New Zealand - "banking system is resilient to severe shocks"
IMF Executive Board Concludes 2017 Article IV Consultation with New Zealand http://www.imf.org/en/News/Articles/2017/05/08/pr17153-new-zealand-imf-executive-board-concludes-2017-article-iv-consultation …
US...
Nasdaq closes at a record level but gains are small today
Forexlive Americas FX news wrap: Macron wins, EURUSD falls
Oil.....
"A third source said an oil production cut extension of up to one year could be an option." RTRS
And another: OPEC, NON-OPEC OIL PRODUCERS CONSIDERING EXTENDING GLOBAL SUPPLY CUT FOR NINE MONTHS OR MORE - SOURCES IN OPEC, INDUSTRY
" Almost Consensus "... devil always found in the details and also in reaching consensus..
US Politics....
( Senate Intel Committee Testimony Eye-Openers)
Director Clapper reiterated what everybody, including the fake media already knows- there is "no evidence" of collusion w/ Russia and Trump.
Sally Yates made the fake media extremely unhappy today --- she said nothing but old news!
The Russia-Trump collusion story is a total hoax, when will this taxpayer funded charade end?
Biggest story today between Clapper & Yates is on surveillance. Why doesn't the media report on this? #FakeNews!
VP Pence may be a witness to a crime - Flynn noose getting tighter.....
Asked if they were an anonymous source for a news report about Trump: Clapper "No," Yates "Absolutely not"
Yates: NSD officials and Yates discussed possibility of criminal prosecution of Gen Flynn with WH counsel McGahn
McGahn said concerned taking action on Flynn could interfere with FBI investigation. Yates said they explained to him it would not
McGahn asked why matter if one WH official lied to another. Yates said we explained to him whole lot more than that. don't want NSA
compromised by the Russians.
Yates: I had 2 in person meetings and 1 phone call with WH about Mr. Flynn. first meeting Jan. 26.
Yates: FBI interviewed Flynn Feb. 24. Got detailed readout from FBI agents who conducted interview Feb. 25.
Yates: asked if i am aware of any evidence of collusion. said can't answer b/c classified. Believe that's same answer Mr. Comey made.
Yates says Flynn talked to the FBI without a lawyer, and made untrue statements about his dealings with Russia. Wow.
Public setting limits scope of testimony from Sally Yates...
Ex-Director of National Intelligence James Clapper tells a Senate subcommittee, per his prepared remarks, not aware abuse of "unmasking."
Clapper: “Unmasking” of identities people caught in surveillance of foreign targets wasn’t unusual; different from leaking classified info.
Obama warned Trump during transition against hiring Michael Flynn as his national security adviser. https://www.bloomberg.com/politics/articles/2017-05-08/obama-warned-trump-against-hiring-flynn-former-officials-say … @margarettalev
( Additional US Political News For Monday.....)
During call today, Trump congratulated Macron, "emphasized his desire to work closely," and agreed to meet during May 25 NATO mtg, per WH.
White House:President Trump & President elect Macron agreed to a meeting during the May 25th NATO leaders meeting in Brussels.
White House:Pres Trump during call w Macron noted the long and robust history of cooperation between the US and its oldest ally, France
White House:Pres Trump emphasized his desire to work closely w President-elect Macron in confronting shared challenges
Trump promised Georgia's prime minister, Giorgi Kvirikashvili, cooperation in economic, security & political development, per Kvirikashvili.
On @Morning_Joe @ChrisCoons predicts @SenateMajLdr will go slow on health care, w/ no conference bill until after 11/18. (!!)
Judges weigh Trump's Muslim remarks as they consider appeal of blocked travel ban
A federal appeals court hears arguments today on Trump’s temporary halt on travel from 6 mostly-Muslim countries.
Europe.....
France....
Honeymoon periods are brief for politicians these days..
GERMANY REJECTS IDEA OF JOINT EURO BONDS AFTER MACRON VICTORY: RTRS
Labor reforms still a white hot concern in France and will await President Macron..
Le Pen is now fighting to keep control of her own party https://www.bloomberg.com/politics/articles/2017-05-08/le-pen-fights-for-control-as-party-s-old-guard-slams-strategy … via @bpolitics #France2017
Macron will have the "mother of all battles" with Germany , regarding his agenda.
EU’s Juncker: France Is Spending Too Much On The Wrong Things
Macron won a convincing victory but he will probably need to build a governing coalition http://eurointelligence.com/public
Focus now shifts to National Assembly Elections in June...
Greece...
New migrant center planned on Chios as tensions simmer http://dlvr.it/P5T9LQ
NPL handling to determine stress test result http://dlvr.it/P5Sb3W
Imports outpace exports in March http://dlvr.it/P5SZv6
Greek leaders hail Macron victory, hope for fruitful ties http://dlvr.it/P5SZXQ
Mitsotakis eyes tax cuts http://dlvr.it/P5SZkc
Local News From Europe....
UN defends migrant rescue groups after Italian accusations of trafficking links http://dlvr.it/P5M2pl
Eleven dead, 200 missing after Mediterranean boat sinkings http://dlvr.it/P5M30H
Three-man jihadist cell arrested in Spain and Morocco http://dlvr.it/P5H2tf
More asylum seekers detected by Swedish border controls after ID checks end http://dlvr.it/P5NK9G
Oslofjord tunnel has serious omissions: former lead engineer http://dlvr.it/P5Jxyz
Odds & Ends....
Syria....
#SYRIA: "Armed men & some of their families have begun leaving Barzeh on 40 buses heading towards northern Syria," state TV reporting
Libya....
Will #Libya devalue its dinar?
#Libya's neighboring countries call for the removal of the freeze on Libyan assets abroad
http://alwasat.ly/ar/news/libya/141251/ …
Fayez Serraj holds meeting with Libyan army officers in #Tripoli. #Libya
http://alwasat.ly/ar/news/libya/141249/ …
Mohamed Siyala (Unity Govt FM): Khalifa Haftar is the commander of the Libyan army
http://alwasat.ly/ar/news/libya/141248/ …
Egyptian Air Force foils attempt to smuggle weapons on border with #Libya
http://alwasat.ly/ar/news/libya/141243/ …
Libya's neighbours want to meet in Tripoli and deny they are interfering - https://www.libyaherald.com/2017/05/08/libyas-neighbours-want-to-meet-in-tripoli-and-deny-they-are-interfering/ …
Another terrible tragedy hits ayslum seekers...
Libya output up to 780,000 bpd , highest output since 2014..
Mitiga airport authorities ban entries of five countries to Tripoli
http://www.libyanexpress.com/mitiga-airport-authorities-ban-entries-of-five-countries-to-tripoli/ …
HoR's Ubari rep calls on Def & Nat'l Security committee to withdraw statement on Messahel violating sovereignty
http://alwasat.ly/ar/news/libya/141133/ …
Iraq.....
100,000 in Mosul reconnected to electricity grid but only getting 1/3 of power needed http://musingsoniraq.blogspot.com/2017/05/mosul-campaign-day-202-may-6-2017.html …
Pensions being paid in Mosul Some govt salaries as well Need to be fully restored to revive city's economy http://musingsoniraq.blogspot.com/2017/05/mosul-campaign-day-202-may-6-2017.html …
Severe food shortages continue in areas of WMosul Many suffering malnutrition Little aid available http://musingsoniraq.blogspot.com/2017/05/mosul-campaign-day-202-may-6-2017.html …
Tigris River flooding shut down only bridge connected east & west Mosul http://musingsoniraq.blogspot.com/2017/05/mosul-campaign-day-202-may-6-2017.html …
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