Wednesday, June 7, 2017

Economic News , Data & Views ....June 7 , 2017.....Quick Hits For Wednesday -1) Markets : Asia- Economic Calendar For Thursday , South Korea Suspends Deployment Of US Anti-Missile System THAAD Even As North Korea Allegedly Gearing Up For 10th Ballistic Missile Test & Perhaps 6th Nuclear Test , Market Moving News & Data As Released ; US : US Stock Indexes Modestly Higher Today , Gold Off 7 Bucks While Oil Smashed $2.42 Lower After Surprise US Crude Build. 2) UK Election Polling & News For Wednesday. 3) US Political Round Up : Comey Statement Ahead Of Hearing Thursday & Reactions To Same ; Trump Statement On Iran Terror Event Today ; Items From Hearing With Coats , Rogers & Rosenstein ; Additional Items Of Note. 4) Europe In Focus - Key Economic , Financial Items From Broader Europe - Spain ( Banco Popular "Rescued By Santander For 1 Euro ) , Italy ( Early Election Caution Provided & Local News Of Note ) , Germany ( Key Local For Consideration) , Greece ( Items For Wednesday . 5) Iran Terror Attack In Tehran Allegedly By ISIS - Comes On Day After Saudi Threat To Iran. 6) Qatar - KSA Et Al "Battle Royale" For GCC Supremacy Continues Today , Key Updates. 7) Odds & Ends - Lebanon , Iraq , Venezuela & Libya In Focus.



Good morning from Berlin! Asia stocks on edge before 3 risk events: Comey, and UK election. Dollar index, US bond yields near 7mth low.

Economic data due from Asia today (and some UK election polls due also)

PBoC Fixes USDCNY Reference Rate At 6.7930 (prev fix 6.7950 prev close 6.7945)

PBoC OMOs: - Inject CNY 30 Bln Via 7 Day Reverse Repos - CNY 50 Bln Via 14 Day Reverse Repos - CNY 70 Bln Via 28 Day Reverse Repos

1 hour ago
Foreign Buying Japan Bonds (JPY) 08-Jun: 484.5B (rev prev 456.5B) Foreign Buying Japan Stocks (JPY) 08-Jun: 543.3B (prev 129.6B)

1 hour ago
Japan Buying Foreign Bonds (JPY) 08-Jun: -350.4B (rev prev 733.5B) -Japan Buying Foreign Stocks (JPY) 08-Jun: 443.7B (rev prev 629.8B)

1 hour ago
Japan GDP Private Consumption (Q/Q) Q1: 0.3% (exp 0.4%; prev 0.4%) -GDP Business Spending (Q/Q) Q1: 0.6% (exp 0.5%; prev 0.2%)

1 hour ago
Japan GDP Private Consumption (Q/Q) Q1: 0.3% (exp 0.4%; prev 0.4%) -GDP Business Spending (Q/Q) Q1: 0.6% (exp 0.5%; prev 0.2%)

(URGENT) N. Korea fires multiple ground-to-ship missiles: S. Korean military

North Korea launches several more ballistic missiles...



North Korea probably thinking this is the perfect time to stir the kettle...


1 hour ago
US stocks recover early losses. End the day higher despite sharply lower oil.

ForexLive Americas FX news wrap: Dollar cheers Comey's opening statement

Oil smashed on surprise US inventory build

Iran connecting dots between terror attack and Trump visit to Saudi Arabia.


Exclusive: Times/YouGov final poll for 2017 election - Tory lead of 7 points

UK election poll - Kantor has Cons on 43, Labour on 38

Westpac sees cable at 1.35 on a 75-100 seat majority

Panelbase poll: Conservatives 44%, Labour 36%

Panelbase poll: Conservatives 44%, Labour 36%

Diane Abbott's office say 'no basis' for reports of non consultation because 'Lyn is her number 2'

Friends of Diane Abbott (not a euphemism for DA herself) say she was moved without consultation -not at her request

Lyn Brown to replace Diane Abbott as shadow home sec 'during the period of her ill health' says

US Politics.....

There's just nothing here folks.....

Pence cancels interview with PBS shortly before it was set to occur

Trump warns Iran that states backing terror risk 'falling victim to evil they promote'

I do--actual obstruction of justice.

So Comey's done it again--thrown the entire political system into confused chaos. What a guy. What a public figure. What a putz.

Trump obviously behaved jaw-droppingly inappropriately but Comey's full statement is much less damning than the leaks suggested

( First tweet of 10 on my T.L From Ben Shapiro On Subject) 

Here is what Comey testimony says: 1) Comey told Trump privately he wasn't under investigation. Repeatedly. Comey wouldn't say it publicly.

Facing Comey testimony that Trump not under investigation, pivots: "Nobody was saying Trump was under investigation."

's opening statement doesn't look like it holds any smoking guns, equity markets & USD edge a tad higher

Here we go , Comey statement ahead of TH Hearing.

Snippet from Rosenstein testimony today.

Two US intel chiefs say they were never pressured by White House

NSA Director Rogers denies ever being directed or pressured to do anything unethical or inappropriate.

Coats: "I've never felt pressured to intervene" in any investigation. Warner: Ok, but did Trump ask?

Naturally , Coats isn't going to discuss that in an open session.

POTUS in tweet announces his nomination of Christopher Wray for FBI Director - one day before Comey Hearing !

Europe Grab Bag...


Bad day for Banco Popular's equity holders and Coco AT1 holders - almost a complete Wipeout in value since March.

Popular taken over for nominal 1 euro by larger Spanish rival. Santander will raise 7 billion euros in rights issue for deal.

Ouch! says Banco Popular was failing or likely to fail in accordance w/Art18 of Single Resolution Mechanism as liquidity deteriorated.


Italy's police chief on London attacker: 'Our conscience is clear'

Another fire has broken out at an Italian waste depot

Italy Econ Development Min: Early Vote Would Be A Mistake

OPINION: 'Italy's mandatory vaccine law should be adopted worldwide'


Air Berlin desperately seeks partner, after flight cancellations pile on misery

Ferries between Denmark and Sweden, Germany paused due to 'threat'

Good morning from Berlin! Asia stocks gain ahead of the 3 big risk events tomorrow: ECB, UK elections, Comey testimony. Haven assets retreat


Moody's: Less ELA dependence boosts banks

Piraeus Bank to sell assets, tackle bad loans in recovery plan

Numerous factors hamper manufacturing

State is paying its arrears at snail’s pace

Iran Terror Attack....

Iran blames KSA and US for today's attack..

Iran connecting dots between terror attack and Trump visit to Saudi Arabia.


Thread on today's ISIS attack in Tehran. Unique just because of location, but overall timing with GCC Rift.

Unprecedented attack today allegedly by ISIS..

: All attackers inside Iranian parliament killed — State Media.

Serious attempt to provoke Iran into reacting underway....

KSA's Foreign Minister must be clairvoyant- just one day after saying Iran needs to be punished , ISIS attacks Tehran. Imagine that ?

Replying to  
: Amaq says parliament attack is "ongoing." Rare live updates make this sound much more like hostage situation than typical IS claims

Replying to  
: "The two martyrdom operatives blew themselves up inside the Khomeini mausoleum in the centre of Tehran," Amaq said - via

Replying to  
: "Fighters from the Islamic State attacked the Khomeini mausoleum and the parliament building in Tehran," Amaq said - via

: Islamic State group claims attacks in Tehran: Amaq agency - via

Qatar - KSA Battle Royale....

( Reverse Chronology)

Reminder on Hasan Sari's thread on 10 point ultimatum and 24 hours to answer - ultimatum given approximately 12 hours ago.

Replying to 

Replying to 
💥⬆️ French Government Spox: must have complete transparency and answer the question raised by its neighbors. "

Replying to 
💥 Comoros cuts its ties with . "



So , no response until now to Saudi ultimatums by Qatar...


If Turkey sends troops to Qatar , the GCC rift faces prolongation of situation and chance of wider conflict》

Iran gives Qatar a lifeline (access to airspace & sea access) , Turkey may also intervene. Did KSA misread this ?

Replying to 
💥 's Civil Aviation Authority shuts down offices across the country. "

Replying to 
💥⬆Significant: Emir of Sheikh Sabah Al-Al-Sabah 2 visit this evening, then head 2 later tonight. "

Negotiation between Qatar and KSA et al , proceeding swimmingly. ..

Bill on deployment of soldiers to Qatar and a/o bill on military training cooperation - expected to be approved Wed.

Replying to 
💥⬆️ recalls ambassador, backs in Gulf row. "

Replying to 
💥⬆️ lowers its diplomatic representation in . "

- also reduces its diplomatic ties with Qatar.

Heat continues to be turned up by Saudi Arabia.

Turkey's Parliament approves Bill to allow training of Qatar Security Forces by Turkey.

Emirati diplomat: "Nothing to negotiate" with Qatar: Jazeera


UAE foreign minister, has acknowledged that leaked emails published by news outlets from Emirati ambassador to the US were true: Jazeera

Deployment bill has passed. Turkish troops can now be deposed to Qatar.

Kuwaiti Emir Met Saudi Ruler over Qatar Diplomatic Crisis

Replying to 
💥⬆️ Emir of just left Doha after talks w/ 's rulers.

Trump changes course on Qatar, offering to mediate among Gulf nations in a phone call with the Qatari Emir

Replying to 
💥⬆️ 's FM just told a Saudi daily that 's policies didn't help Kuwaiti efforts to succeed. "

Qatar military placed on highest state of alert. Issue warnings on maritime borders

1 hour ago
's Senior State Minister for Defense, Foreign Affairs Meets 's Ambassador

1 hour ago
Replying to 
💥 Libyan National Army Spox now releasing documents, photos as evidence on sponsoring terrorist groups in . "

Replying to 
Emir returns home after whirlwind diplomacy tour to KSA, UAE, to resolve crisis. After return he spoke to Turkey's Erdogan

Replying to 
💥 Libyan National Army Spox: A Qatari general operating from is in charge of arming,funding Daesh, other terror militias in

Replying to 
Not new though.Libyan army have made these accusations on Qatar 100s of times.Timing significant. They want 2 take Qatar 2 ICC now

army reveals documents proving ’s interference in Libya

Trump call with Crown Prince of UAE- US read out.

Qatari Ministry of Defense warns Saudi, UAE and Bahrain they would fire on any naval ships from those countries that enter into its waters.

Odds & Ends...


Replying to 
- Interior Minister al-Mashnouq confirms plot to blow up restaurant was foiled -


province and Mosul city map update. Green= completely liberated. Orange= frontline clashes. White= control.

Iraq Kurds plan independence referendum for September 25th...


Strange vapors in the air...

Venezuela, China Hold Bilateral Meetings to Review Agreements... one day after Haitong was said to be dumping billions in Venz bonds


Pres. Council forma committee to address crisis in .

Mayor of inspects banks in the city as citizens complain about the lack of liquidity.

Pres. Council allocates 3 million dinars for maintenance at Central Hospital.


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