Monday, May 8, 2017

Economic News , Data & Views....May 8 , 2017......Quick Hits For Monday -1) Markets : Asia- Economic Calendar For Tuesday , Market Moving Data & News Posted As Pertinent ; US - Dow & Nasdaq Make Tiny Gains Today - S&P Unchanged , US Crude & Gold Also Make Very Small Gains On The Day ; Europe - DAX & CAC Sell Off Somewhat ( Looks Like "Sell The News" Played Out After Macron Win ) , FTSE Up Very Slightly .2) US Politics : Sally Yates & James Clapper Testify Before Senate Intel Committee - Lots Of Items To Ponder With Yate's Testimony In Particular ; POTUS Meets With Georgia's Prime Minister and Talks By Phone With President Elect Macron Today ; Healthcare Bill Updates - Senate In Particular Focus ; Travel Ban Appellate Court Updates; Additional Items Of Note. 3) Europe In Focus : France - Pondering The French Political Landscape The Day After Macron Massive Victory Over Le Pen ; Greece Political & Economic News For Monday ; Local News From Across Europe , Including Norway , Sweden , Spain & Italy. 4) Odds & Ends : Libya , Syria & Iraq In Focus.


Markets.....



Asia....




Economic data due from Asia today (and Australian budget later)





Composite opened 0.4% lower at NEW LOW in over three months






cut ' fixing by 90bp to 6.9037 per USD, weakest in over one month, vs prev 6.8947





refrained from for 3rd day in a row; 20bn reverse repo matures today






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







1 hour ago
Australia budget day - preview




IMF on New Zealand - "banking system is resilient to severe shocks"











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




| Energy Ministry monday: Russia is ready to extend the production cut agreement with OPEC. Tass.




| we are holding final negotiations on extending cuts & are inclined to think that extension is reasonable - Novak. Tass.




" 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? !







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





Replying to 
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.




( 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 predicts 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..












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





Focus now shifts to National Assembly Elections in June...








Greece...




New migrant center planned on Chios as tensions simmer






NPL handling to determine stress test result






Imports outpace exports in March





Greek leaders hail Macron victory, hope for fruitful ties






Mitsotakis eyes tax cuts







Local News From Europe....






UN defends migrant rescue groups after Italian accusations of trafficking links






Eleven dead, 200 missing after Mediterranean boat sinkings







Three-man jihadist cell arrested in Spain and Morocco






More asylum seekers detected by Swedish border controls after ID checks end





Oslofjord tunnel has serious omissions: former lead engineer





Odds & Ends....




Syria....




: First evacuations begin from rebel district of Barzeh in Damascus: state TV - via





Replying to  
: "Armed men & some of their families have begun leaving Barzeh on 40 buses heading towards northern Syria," state TV reporting





Replying to  
: pictures from Barzeh this morning, where hundreds of rebels + family members will be evacuated today in 1st Damascus evac deal







Libya....




Will devalue its dinar?






's neighboring countries call for the removal of the freeze on Libyan assets abroad







Fayez Serraj holds meeting with Libyan army officers in .






Mohamed Siyala (Unity Govt FM): Khalifa Haftar is the commander of the Libyan army






Egyptian Air Force foils attempt to smuggle weapons on border with













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








Replying to 
HoR's Ubari rep calls on Def & Nat'l Security committee to withdraw statement on Messahel violating sovereignty






Iraq.....




Great day as Counter Terrorism units resumed ops and Army completely surrounds from the north axis.







100,000 in Mosul reconnected to electricity grid but only getting 1/3 of power needed






Pensions being paid in Mosul Some govt salaries as well Need to be fully restored to revive city's economy






Severe food shortages continue in areas of WMosul Many suffering malnutrition Little aid available






Tigris River flooding shut down only bridge connected east & west Mosul