China Avg. Wealth Management Product Yield Rises to 4.66% on Week: PY Standard
Good morning! Asia stocks drop as risk appetite turns sour, led by a slide in crowded Tech. Bond rout continues due to CenBank hawkishness.
Non-manufacturing activity also expanded in Jun, non-manufacturing #PMI at 54.9, vs prev 54.5, shows data from National Bureau of Statistics
Economic calendar in Asia today is a biggie - Japan inflation!
Japan Industrial Production (May, preliminary): -3.3 % m/m (expected -3.0%)
Tokyo June CPI Ex Food 0.0pct (Est 0.2pct, Prev 0.1pct) Tokyo June Ex Food, Energy -0.2pct (Est 0.0pct, Prev 0.0pct)
Japan May CPI Ex Food 0.4pct (Est 0.4pct, Prev 0.3pct) Japan May CPI Ex Food, Energy 0.0pct (Est 0.1pct, Prev 0.0pct)
Japan May Overall Household Spending -0.1pct (Est -0.7pct, Prev -1.4pct)
Japan May National CPI 0.4pct y/y (Est 0.5pct, Prev 0.4pct) Tokyo June CPI 0.0pct (Est 0.3pct Prev 0.2pct)
Japan May Jobless Rate 3.1pct (Est 2.8pct, Prev 2.8pct) Japan May Job-To-Applicant Ratio 1.49 (Est 1.48, Prev 1.48)
New Zealand Building Consents (permits) May: +7.0 % m/m (prior -7.6%)
RBA monetary policy meeting - what to expect
US, S Korea And Japan To Hold Trilateral Talks At G20 Reports Yonhap
Japan inflation data (and more!) due today - get set for another preview
BNZ Pushes Out Expectations For New Zealand Rate Hike From RBNZ To Mid-2018 From Feb 2018
Forexlive Americas FX news wrap: USD takes a tumble helped by falling stocks, higher German inflation.
US stocks tumble but it could have been a lot worse
US crude oil ends higher at $44.93
Welcome To The Third World: Illinois About To Default? - John Rubino https://www.sprottmoney.com/Blog/welcome-to-the-third-world-illinois-about-to-default-john-rubino.html?platform=hootsuite …
Reminds me of Greece at the lowest point of its ongoing crisis , but this is Illinois in the "ICU" folks.
2 media retractions and NYT makes a big correction today. Beat goes on !
U.S. STATE DEPARTMENT SAYS HAS NOTIFIED CONGRESS OF ARMS SALES TO TAIWAN WORTH ABOUT $1.42 BILLION
In her post as UN Ambassador- likely Haley received report before officially released. Which is Friday , by the way.
"Van Susteren's slightly wonky right-centrism didn’t catch."
House Intel says it wants more from White House on whether any recordings or documents on Trump conversations with Comey exist/ever existed.
4 Chinese entities and individuals targeted in latest round of sanctions...
“We have no specific agenda,” National Security Adviser H.R. McMaster says of upcoming Trump-Putin meeting at the G20 in Germany
National Security Advisor McMaster: Trump Will Meet With China's Xi On The Sidelines Of G20 Summit In Germany
National Security Advisor McMaster:Trump Will Meet With Russia's Putin On The Sidelines Of G20 Summit In Germany
CBO: TREASURY CAN FUND U.S. GOVT THROUGH EARLY TO MID-OCTOBER
Joe , Mika and Donald all merit red noses and big floppy shoes today -clowning each other but also themselves.
JUST IN: Ryan: Trump's attack on Brzezinski's looks not appropriate, doesn't help civility http://hill.cm/WvyR96q
DHS Sec Kelly says it "offends me" when mbrs of Congress "threaten me" over sanctuary cities
DHS Sec Kelly on local police in sanctuary cities. Says it's "beyond my comprehension" that police don't enforce laws
Should be interesting....
#US | *SENATE MAY MEET FRIDAY HEALTH BILL DEADLINE, CORKER SAYS - BBG
PM urges investors to come to Greece http://dlvr.it/PR3kdP
Tsakalotos sings the creditors’ tune on market return and reforms http://dlvr.it/PR363w
Garbage cleanup begins as workers halt strike action http://dlvr.it/PR360h
Gov’t drops case against sell-off officials http://dlvr.it/PR2nzj
#Tsipras says Greece will not need credit line after end of program in 2018, which would mean new measures+a 'diguised memorandum' 1/2
#Tsipras says Greece will make a 'clean' exit from the bailout program 2/2
EPP Weber: Germany will grant debt relief but not to this government
Man attempts to drive car into crowd outside mosque in Paris suburb http://f24.my/1Pzq.t
France 'far off course' in efforts to hit deficit targets http://dlvr.it/PQzWky
France's Fin Min: Labor Market Reform Is The Most Difficult Hurdle
Jeremy Corbyn sacks frontbench rebels after 49 Labour MPs defy him over Brexit - http://bit.ly/2s6iems
Queen's Speech passes the Commons as DUP MPs back Theresa May's plans http://bit.ly/2tqfYKc
Hearing that Labour frontbenchers who voted for the Umunna amendment are being SACKED by Jeremy Corbyn. Andy Slaughter among them.
Major blow for Rupert Murdoch as 'political influence' fears delay Sky takeover bid: http://bit.ly/2umDFjZ
MAY'S GOVT DEFEATS LABOUR PARTY AMENDMENT TO QUEEN'S SPEECH
Qatar & Arab Quartet - " Gulf Rift"
"As Gulf Rift Turns" , latest chapter in geopolitical soap opera.
Qatari FM: we've made clear to Saudi that if they have problems with Al Jazeera, they should talk directly w/ Al Jazeera, it's independent
Qatar's Foreign Minister al-Thani rejects 13 demands from Arab Quartet. Says Qatar won't surrender its sovereignty.
Riyal exchange issues also popping up in India..
Gulf Rift has effects showing up in UK now....
Italy mulls over shutting down its ports to rescue migrants ships coming from Libya http://www.libyanexpress.com/italy-mulls-over-shutting-down-its-sports-to-rescue-migrants-ships-coming-from-libya/ …
Dutch to reopen Tripoli embassy - https://www.libyaherald.com/2017/06/29/dutch-to-reopen-tripoli-embassy/ …
Serraj on official visit to Holland - https://www.libyaherald.com/2017/06/29/serraj-on-official-visit-to-holland/ …
#Libya: UN convoy attacked yesterday west of Tripoli between Surman & Zawia. No explanation why they were in Surman http://www.news24.com/Africa/News/gunmen-attack-un-convoy-in-libya-briefly-hold-staff-20170629 …
Odds & Ends....
Puerto Rico GO Bondholders File ‘Clawback’ Suit in Bankruptcy: BBG
There are lots of apologists for Maduro's regime and so called outside interference ( in contrast to rebellion.) 1
#Aleppo | Turkish military build-up at border ready to target YPG-held Afrin, Tal Rifat https://www.dailysabah.com/war-on-terror/2017/06/29/turkish-military-build-up-at-border-ready-to-target-ypg-held-afrin-tal-rifat …
Italy says crap the heroic crap , give us real help !
China doesn't play around with financial fraud. Potential of death penalty is very real , if convicted.
Map update #Mosul Old city. Green= Completely liberated. Red= clashes.
#DeirEzzor | Coalition jets hit Kuniku gas plant near Khasham
Senior Saudi claims NYT report is " untrue , completely false and baseless." Suggests bin Nayef may sue NYT.
This is an important statement by the Assad regime about how important retaking Deir ez-Zor is to the Syrian authorities.
Ah , people finally figuring that out...
Germany -Turkey rift still going strong. ...
Both The Telegraph and NYTs reporting Ex Crown Prince essentially in "house arrest" status in Jeddah.
Mohammed bin Nayaf reportedly confined to his palace in Jeddah , banned from leaving KSA & his personal bodyguards replaced.
RUSSIAN PM MEDVEDEV SAYS GOVERNMENT SUGGESTS EXTENDING COUNTER SANCTIONS ON EU UNTIL DEC 31, 2018