Friday, May 19, 2017

Economic news , Data & Views.....Quick Hits For May 19 , 2017......Quick Hits For Friday -1) Markets : US Stocks Indexes Rip Higher Again , US Crude & Gold Power Ahead , US Treasury Yields Move Higher As Stocks Recover From Wednesday's Sell Off , Lot Of Today's Action Centered On Dollar/ Euro & Pound ; Europe Indexes Also Recover On Friday ; Brazil Political Tremors Continue ; Additional Financial News Of Note. 2) US Politics : Comey Firing Items ; Trump First Trip Abroad News ; Russia Probe News ; ObamaCare Item ; Puerto Rico Update ; Additional News Of Note. 3) Europe In Focus : Greece News For Friday ; UK Political Round Up ; France In Focus ; Additional News Touching Upon Europe. 4) Libya - After Yesterday's Massacre At Brak Al Shati , Reverberations Felt throughout Libya. 4) Odds & Ends For Friday !



Markets.....




Global bonds gained $813bn in value this wk as inflation expectations collapsed, China curve went inverse & on safe haven bid w/ Trump chaos






New Russia probe leaks threaten to derail Trump's first foreign trip. Watergate's ghosts haunt Trump in Saudi Arabia






Global stocks have lost $180bn in mkt cap this week on Trump slump as investors switched to risk-off. Volatility surged on US pol headlines.






US.....




Treasury yields suffer largest weekly fall in a month, as stocks stage a rebound



US 10y-2y yield spread has fallen below the critical 100bp mark and brought S&P Financial sector down as well.







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1 hour ago
ForexLive Americas FX news wrap: The euro cracks 1.12



Yesterday's sudden drop in cable and jump in the US dollar still reverberates



WTI futs settle up 98c at $50.33/bbl





Europe.....





British Pound has risen above $1.30 as speculators have cut their short positions dramatically.







1 hour ago
Euro trades above $1.12 for 1st time since Nov. Has a lot more upside potential when measured by speculator's positions that turned bullish.







Merkel & Schäuble to push for Buba's Weidmann to become 4th ECB pres, arguing it’s Germany’s turn after NL, FR & IT, Spiegel says. (via BBG)







Brazil........













Will Brazil Rebound Last? Tape Alleges 3 Presidents Took Bribes via






Brazil securities watchdog probes JBS currency, stock purchases via




Brazil Prosecutor Says Temer, Neves Sought to Halt Carwash







PLEA-BARGAIN TESTIMONY INDICATES BRAZIL PRESIDENT TEMER ALLEGEDLY RECEIVED 15 MILLION REAIS IN BRIBE IN 2014




JBS PLEA-BARGAIN TESTIMONY SAYS EX PRESIDENT DILMA ROUSSEFF RECEIVED $30 MILLION IN BRIBES IN OFFSHORE ACCOUNTS





JBS PLEA-BARGAIN TESTIMONY SAYS EX PRESIDENT LUIZ INACIO LULA DA SILVA RECEIVED $50 MILLION IN BRIBES IN OFFSHORE ACCOUNT





Fitch affirms at BB; Outlook neg as pol events related to Temer have increased uncertainty regarding reforms





US Politics ....







White House lawyers researching impeachment process: report






Comey will have his opportunity to be heard...







Trump tells Russia he fired "nut job" Comey --NYT





White House reacts to story saying Trump told Russians Comey was a "nut job"






Current White House official is 'significant person of interest' in Russia probe - WaPo



This is interesting piece on the status of Obamacare. Not a death spiral , but clearly ailing.






Update on Puerto Rico -3 Creditors Committees to be appointed by the US Trustee.






Appointment of Mueller could complicate other probes into alleged Russian meddling



First trip highlights..








Trump’s 1st foreign trip is key test for Jared Kushner, entrusted with Mideast portfolio and big-picture planning.



Trump team hopes trip's substance --big natl security, business announcements--generate headlines that push Comey, Russia off front pages.





Saudi Arabia won 1st stop after promising US investments -- US infrastructure, and purchases of hundreds of billions in military equipment.




No announcement today regarding FBI Director Nominee selection.





BOEING MILITARY SALES DIVISION WORRIED ABOUT CANADIAN THREAT TO SCRAP PROPOSED SUPERHORNETS PURCHASE- SOURCE FAMILIAR WITH SITUATION






BOEING MILITARY SALES DIVISION SEEKING TO CONTACT CANADIAN OFFICIALS TO MITIGATE POSSIBLE IMPACT ON SUPERHORNET SALE- SOURCE





Trump asked Comey when FBI would announce he was not personally under investigation: report





Europe In Focus....



Greece....




KEPE: Stem 'brain drain' and make the most of it






Municipal workers launch four-day strike







Moscovici Urges Lenders to Agree on Comprehensive Deal for Greece






EU Commission Welcomes Voting of Measures in Greek Parliament






Athens Medical Assctn condemns police's use of tear gas agnst demostrators on Thur, says they pose serious health risks+should b abolished






UK.....






UK police say WikiLeaks' Assange will be arrested if he leaves Ecuador's embassy








1 hour ago
LISTEN: PoliticsHome podcast, featuring Vote Leave top dog and an in-depth party manifesto review -






1 hour ago
Theresa May: Jeremy Corbyn too weak to stand up for the Union even if he wanted to -





Tories set to have more female MPs than Labour for first time ever






John McDonnell: Theresa May demanding 'blank cheque' with uncosted manifesto






EU has a long history of misjudging UK politics - this is the biggest danger to Art 50 deal





Echoing remarks from earlier this week, Angela says UK will pay "price" if it fails to accept free movement of citizens






France.....





French IT experts release fix for








▶️ Emmanuel Macron in Mali: France committed to fighting terrorism






Protest over “no-go zone for women” in Paris immigrant district









FRENCH SECURITY RESEARCHERS SAY THEY HAVE FOUND METHOD TO DECRYPT WINDOWS FILES LOCKED BY WANNACRY RANSOMWARE





Replying to 
FRENCH RESEARCHERS SAY "WANNAKEY" METHOD ONLY WORKS IF INFECTED COMPUTERS HAVE NOT BEEN REBOOTED








Macron riles media with reporter ban





Europe Polling Data.....




Germany, Civey poll: CDU/CSU-EPP: 38% SPD-S&D: 26% LINKE-LEFT: 9% FDP-ALDE: 8% AfD-ENF: 8% ↓ GRÜNE-G/EFA: 7%





Germany, YouGov poll: CDU/CSU-EPP: 38% ↑ SPD-S&D: 25% LINKE-LEFT: 9% ↑ FDP-ALDE: 9% AfD-ENF: 9% GRÜNE-G/EFA: 7%








Italy, Ixé poll: PD-S&D: 29% ↑ M5S-EFDD: 29% ↑ FI-EPP: 13% LN-ENF: 12% ↓ FdI-*: 5% ↑ AP-EPP: 3% DP-S&D: 3% SI-LEFT: 2%





UK (Scotland): Scottish Independence Referendum, YouGov poll: Remain Voters Yes: 54% No: 46%





UK (Scotland): Scottish Independence Referendum, YouGov poll: Yes: 45% (+2) No: 55% (-2)





France, Harris poll: EM+-ALDE: 32% FN-ENF: 19% LR+-EPP: 18% ↓ FI-LEFT: 16% ↑ PS+-S&D: 6% EELV-G/EFA: 3%...







Libya .....






Arab League condemns Brak airbase attack







President Council suspendes MoD al-Barghathi & Third Force leader Jamal Tariki during the investigation time after Brak al Sathi attack.









Serraj suspends Barghathi & Al-Treki over Brak killings. But unclear if PC has control over Treiki’s militia




141 died in Brak massacre says Mismari -





Misratan lawmakers deplore Brak Al Shatti slaughter but military justify it -






Replying to 
3rd Force account has published a message stating that the brigade was established under Zeidan GVT & can prove orders from MoD, PC, Kajman.





PC passes a resolution that includes suspension of their Min.Of Defense+3rd Force commander pending an investigation into Brak attack






Spox of 3rd Force also told the BBC they had no casualties in Brak al-shati and that they captured 15 combattants And ammunition.





Replying to 
Note: The deaths in yesterday's Brak Al-Shati massacre are basically all from head wounds. Al-Qaeda/LIFG did the executions.





Misrata forces involved , if there were doubts to the contrary...very bad sign.








Egypt blasts yesterday's massacre as brutal assault and terrorism. Heat just got turned up on PC/GNA/MoD.







Libya air base attack that killed dozens could be war crime, warns UN envoy - Irish Independent



Statement from PC re. Brak el shati attack - denied instructing the Ministry of Defence to order the attack 1/2




2/2 PC says ordered an investigation into Brak-vowed to hold ppl to account "even if they were claiming loyalty to the government"




Spox of 3rd Force to BBC- denied their fighters carried out executions of LNA fighters, said fighting was in close quarters.





More evidence of the massacre committed by forces that have links with UN-bakced GNA in








Important from independent dialogue member Fadel Lamen re massacre yesterday







UK Libya ambassador calls for investigation into reports of mass executions at southern air base






UN Envoy to Libya Kobler weighs in on yesterday's massacre..







Replying to 
The Brigade *13* entered in the base following clashes around it. At least one plane was destroyed and vehicles + ammunitions seized.









Odds & Ends....





Rouhani re-elected by wide margin in Iran !






Vote counting starts after heavy turnout in








1 hour ago
Mattis: North Korea Military Solution Would Be "Tragic On An Unbelievable Scale"






That North Korean missile really worked, U.S. officials say







The final casualty numbers for the double car bomb that rocked Abu Dashir southwest are 4 dead and 14 wounded.







Replying to 
Medical reports indicate over 30 civilians were wounded in the double blast, numbers are not final yet.








Joint Operation officially announce the Northern part of 17 Tamouz district NW completely liberated.







Poland defies EU over asylum seekers. Will the EU now takes steps to sanction Poland and others who defy EU asylum seeker edicts ?






: 6th round of talks wrapping up today in . Govt negotiator Bashar al-Jaafari has left UN, opposition HNC expected in afternoon






Replying to  
: Responding to question from , govt negotiator Bashar al-Jaafari said 4 baskets 'were not discussed at all' in this round






Replying to  
Jaafari: 'We had one expert meeting yesterday b/w our experts & those of the special envoy. This is the only result from this round.'





Replying to  
: Technical meetings seem to be watered-down version of SdM proposal on team tasked w/ 'specific options for constitutional drafting'






DoD-backed Maghawir al-Thawra just confirmed to me no reversal yet to the request to relocate from al-Tanf. See here