Monday, June 5, 2017

Economic News , Data & Views .....June 5 , 2017..... Quick Hits For Monday -1) Markets : Asia - Economic Calendar For Tuesday , Breaking Data & Market Moving News As It Develops ; US - Dow / S&P / Nasdaq All Modestly Down , Oil Also Red Today , Treasury Yields A Tad Higher, Morning Data Splash , Deer In Headlights Day For US Markets. 2) Qatar Vs The "Avengers" ( AKA KSA , Egypt , Bahrain Yemen / UAE Libya's Interim Gov't ) Definitely Geopolitical Event Of Past Day. All The Pertinent Bits - Divided Into Three Sections ; A) Back Story ; B) Sunday Events ; Monday Events. 2) US Political Round - Believe It Or Not , Lots Happened Here Today As Well. 3) Europe Round Up : Greece - Creditor Review Updates & Pertinent Items For Monday ; Spain - Banco Popular Update ; Italy - Electoral Law Debate Set To Occur , Could Pave Way For General Election In Fall ; UK - London Bridge Investigation Updates , General Election Items In Focus ; & Germany - Turkey Relations Not Improving , Germany to Pull Soldiers & Planes From Turkish AB In. 4) Odds & Ends for Monday.



Markets.....



Asia....





Good morning! Asia stocks drop as caution reigns. hits 7mth low in wake of soft econ data. extends decline on Mideast tensions.






Economic data due from Asia today, and its RBA day



Strange - Philippine CPI data 2 hours early. Headline inflation eases to 3.1% (estimate 3.3%). Core inflation falls to 2.9% (estimate 3%)






Police treat Melbourne siege as "terrorism"







Replying to 
ISIS has officially claimed the Melbourne attack.













Australia - RBA decision day - previews





US....






1 hour ago
US stocks end the day lower. Bond yields are higher.



ForexLive Americas FX news wrap: Dollar hangs tight, AUD higher ahead of RBA



Crude oil futures wobble....End the day down.




US Factory Orders (MoM) Apr: -0.20% (est -0.20%; rev prev 1.00%) -Factory Orders Ex-Transportation (MoM) Apr: 0.10% (rev prev 0.20%)





US Durable Goods Orders (MoM) Apr F: -0.80% (est -0.30%; prev -0.70%) -Durables Ex-Transportation (MoM) Apr F: -0.50% (prev -0.40%)






ISM non-mfg - Priced paid 49.2 from 57.6 - Imports 48.5 from 53.0 - Employment 57.8 from 51.4





Qatar vs The Avengers....

( Much more at timeline)



A) Backstory....Prior to Sunday Night , events had caused concern within GCC about Qatar , in particular , the Emir....





This definitely added fuel to the fire. Not very much coverage on Qatar payoff when the deal was struck...







Qatari King’s Pro-Iranian Statement False or Authentic?





Qatar Incident Confirms Riyadh Summit Unity Façade







Hamas Official Urges Improved Ties with Pro-Resistance States, Chiefly Iran







Iran Leader Says Saudi kingdom Doomed to Collapse: Motto or Prediction?








Saudi Wahhabis Disown Qatar Emir over His Pro-Resistance Remarks







Four Factors Fueling Fresh Qatari-Saudi Rifts








Qatar Emir Expected in Kuwait as Regional Tensions Rise






Release of hacked emails also may have played a role Sunday's power move against Qatar.








B) Sunday Night Slam....





Qatar rifts with KSA , UAE and Bahrain is widening....





Whoa - things are lit ! Qatar citizens given 14 days to leave country. Diplomats given 48 hours.







Replying to 
BAHRAIN HAS CLOSED ITS AIRSPACE TO QATAR





Replying to 
QATAR JUST RETURNED THE FAVOR: NO BAHRAINI CITIZEN IS ALLOWED TO ENTER QATAR ANYMORE






Replying to 
QATAR HAS BEEN KICKED OUT OF THE COALITION THAT IS BOMBING YEMEN. ALL SOLDIERS AND MILITARY HARDWARE HAVE BEEN ORDERED TO LEAVE SAUDI






GCC has openly ruptured as Qatar sees all diplomatic ties severed by Saudi Arabia , UAE , Bahrain & also Egypt. OPEC is in trouble now too.






Saudi Arabia, Egypt, Bahrain, UAE Sever Diplomatic Ties with Qatar





Monday Morning....














benchmark index now down 7.5%, lowest level since Jan 2016.






As of this morning , six countries have cut ties with Qatar - among the GCC nations , note Oman and Kuwait have not cut ties with Qatar.






Qatar will need Turkey to step up bigtime to deal with KSA led onslaught. ..






Qatar Airlines to be banned from Saudi airspace; non-Qatari to/from Qatar must apply for transit --







Border closure triggers panic buying in Qatar supermarkets (via )







Meat and chicken shortages already appearing in Doha's main supermarket (via )







Crazy to see how swiftly this is playing out..









Food for thought about de facto blockade imposed on Qatar.





Libya Interim Gov't also cuts off diplomatic ties with Qatar. One can see how forces & power centers are lining up.






Replying to  
Al-Jazeera reported trucks carrying food for are now lining up across the border, unable to enter the country.





There is an effort underway to depose Qatar Emir - bet Qatari Opposition getting a big boost from foreign backers.





Some Egypt banks cutting off dealings with Qatar - won't be shocked to see that followed by KSA , UAE et al.








Iran willing to ship food by sea. Sole land border with KSA , blocked today.





SAUDI PORTS AUTHORITY TELLS SHIPPING AGENTS NOT TO RECEIVE ANY VESSELS WITH QATARI FLAG OR OWNED BY QATARI COMPANIES OR INDIVIDUALS- TWITTER





UAE AND SAUDI ARABIA HALT WHITE SUGAR EXPORTS TO QATAR – TRADE SOURCES





: offered 2use its water & air space 4commercial airlines & to coordinate between respective Transport ministries.






Greece to represent Egypt in Qatar after diplomatic break





Something to consider, as Qatar siege is now in place....






Flights suspended by Qatar Airways to KSA , UAE , Egypt and Bahrain.




BREAKING: Saudi Arabia shuts Al-Jazeera's office in the kingdom, in new measure against Qatar after severing ties with the emirate




Turkey playing role of mediator for now. We shall how successful their efforts at mediation turn out to be.








Significant: adviser Prince Khaled bin Faisal arrives in for talks, most likely involve spat w .




Replying to 
Lavrov has held a telephone conversation with Qatar's MFA Mohammed bin Abdulrahman al-Thani,conversation was initiated by Qatar.





Replying to 
Russia’s Deputy Foreign Minister M.Bogdanov met with Qatari Ambassador in Moscow to discuss situation.




Replying to 
Erdogan calls Putin to discuss situation.






Egyptian & Saudi Banks announce they are discontinuing trading in Qatari real.Pressure on economy of Qatar increased






Army units sent to Qatar border. All crossings closed w/ large anti-tank concrete blocks. More than a "spat" folks.






Replying to 
💥⬆️ This is how you know they are in total denial😅: FM: " will not affect normal life in the country"






💢 AlJazeera 2broadcast an intrvw w/ FM, Emir of Qatar delays speech 2give Emir of Kuwait efforts a chance:)






Replying to 
💥⬆️ Kuwaiti newspaper citing sources: Emir of Kuwait to visit Riyadh tonight and Doha later. "





Replying to 
💥⬆️And its only the beginning: loses 82 percent of its Gulf imports due to sanctions









1 hour ago
Replying to 
💥⬆️ Cabinet: KSA will always support the 'Qatari people", regardless of their "regime's policies of aggression". "








1 hour ago
Coup in Qatar ? First of several tweets..








1 hour ago
Alleged coup...tweet 2





Qatar coup ? Tweet 3








Qatar Coup - Tweet 4


Replying to 
💥⬆️ The stmnt: We apologize to Egypt, Syria and all other countries affected by the terrorist policies of the ousted Qatari regime. 😅







1/2Qatar Foreign minister said the emir of Kuwait was traveling to Saudi Arabia on Tuesday to assist in "containing the crisis".





2/2Qatar's Emir Sheikh Tamim bin Hamad Al-Thani will give a speech to the nation on Tuesday to address the situation.




1/2Kuwait's Emir Sheikh Sabah al-Ahmad al-Sabah has called Qatar's Emir Sheikh Tamim bin Hamad Al-Thani





2/2Qatar's Emir Sheikh Tamim bin Hamad Al-Thani will give a speech to the nation on Tuesday to address the situation.





US Politics...




German bank asks Dems for more time before sharing Trump-Russia financial info: report







Meet Reality Leigh Winner. The 25-y-o was charged today with leaking top secret NSA report on Russian hacking to





JUST IN: Government contractor arrested, charged with leaking classified info to news outlet: report







(1) The document doesn't show NSA finding evidence of election systems being hacked. (2) IC has said this repeatedly







Replying to 
We have this question Obama answered on December 16







Replying to 
Then you have the January IC assessment, which says this






Replying to 
And this






Replying to 
V dubious game by some folks to conflate 2016 disinfo campaign (IC says happened w/ high conf) with vote tampering (IC says didn't happen).






More than 1,000 mayors, governors and businesses announce they will uphold Paris climate agreement








Supreme Court strikes down North Carolina districts drawn using race







Theresa May blasts Trump: "Wrong" to criticize London mayor







Russian intelligence attempted to hack US voting machine maker in days before election: report






Major networks will air Comey testimony live







JUST IN: Acting US ambassador to China resigns over Trump's Paris decision: report








انقسام في فريق ترمب بين مؤيد لإدراج الاخوان على قائمة الارهاب (بانون) ومعارض لهذه الخطوة (مكماستر وماتيس) بسبب مصير قاعدة العديد - فوكس نيوز








GRAHAM says he doesn't think Republicans will pass a health care bill in 2017. "I just don't think we can put it together among ourselves."






US Commerce Sec. Ross: Deadline For US, Mexico Sugar Talks Extended By 24 Hrs - RTRS






Desiring a swift examination of the facts, Trump will NOT exert executive privilege on Comey’s testimony, Sarah Huckabee Sanders says.





. Trump kicks off "infrastructure week" - plans to privatize air traffic control & infrastructure investment

















Europe Catch All





UK....





May Under Pressure As Ministers Plan More Cutbacks For Anti-Terror Budget – Times




Despite everything, Brussels and the UK largely agree on how to implement Brexit







UK BRC Retail Sales Monitor Y/YMay: -0.4% (epx -0.2%; prev 5.6%)






Survation Poll: UK Conservative Party On 41.5%, Labour On 40.4% - RTRS - Conducted June 2-3, Before Attack In London On Saturday Night






You literally can't make this up. True life killer jihadist , previously featured in "Jihadi Next Door" ... ...




MORE: British police say Butt was British citizen born in Pakistan; Redouane claimed to be of Moroccan and Libyan descent





MORE: British police say Butt was known to police and MI5 but no evidence to suggest attack was being planned




Scotland Yard say they're "pretty sure" on the identity of third attacker but are withholding his name citing "international issues"










Tories attack Jeremy Corbyn's anti-terror record after he slams police cuts -






Ringleader of London Bridge /Borough Market attacks was an open jihadist. How did UK Authorities miss all of this ?






How does he believe simply adding more police solves the problem , with his view on shoot to kill ?







This may backfire against Corbyn...







Interesting..







after lots of Qs to May on police cuts, Lord Carlile, often govt critic, says terror cops have enough resources + debate on cuts wrong one






Theresa May: "Sadiq Khan is doing a good job and it's wrong to say anything else. He is doing a good job."





Germany...





German Alliance With Turkey Cracks as Gabriel Snubbed in Ankara - Bloomberg







Germany Foreign Minister snubbed by Turkey..








Germany announces withdrawal of some 260 airmen from base in Turkey





Italy....





PIMCO on Italian politicals: baseline Italy stays in EUR, but Italexit not a "crazy idea"






Italian MPs prepare to debate new electoral law. If adopted by early July, it could clear the way for general election in September/October.





Spain....





Spain's unresolved bank problem slowly coming to the surface...






Greece...





Handelsblatt: IMF’s Lagarde Offers Eurozone Greek Debt Compromise






Greece’s Public Sector Is Aging






More of the same..






Cyprus leaders agree to push on with reunification talks







Power union dismisses climate change as conspiracy, hails Trump






Odds & Ends....



Syria...



Replying to 
Jordan would not oppose the Syrian Arab Army in regaining control of border posts, Daraa city would also meet same fate as Homs and Aleppo.





If GCC infighting continues, it could be the end of MOC in southern Syria






SDF backed by US-led Coalition is 3km from the eastern and western entrances to al-Raqqa city






Iraq....



Map update for the current operations in west desert by . forces control more of / border.






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