Markets.....
Asia.....
Good morning from Berlin! Asia stocks on edge before 3 risk events: Comey, #ECB 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
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)
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)
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%)
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 http://english.yonhapnews.co.kr/news/2017/06/08/0200000000AEN20170608001400315.html …
North Korea launches several more ballistic missiles...
SOUTH KOREA SUSPENDS DEPLOYMENT OF US ANTIMISSILE SYSTEEM 'THAAD' REACHING OUT TO NORTH KOREA AND CHINA
Wonderful...
North Korea probably thinking this is the perfect time to stir the kettle...
US....
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 http://bit.ly/2sfEFsI
Iran connecting dots between terror attack and Trump visit to Saudi Arabia.
UK.....
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 #Labour
US Politics.....
There's just nothing here folks.....
Pence cancels interview with PBS shortly before it was set to occur http://hill.cm/X6MBccQ
#BREAKING 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, @CNN pivots: "Nobody was saying Trump was under investigation."
#Comey'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.
#BREAKING 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...
Spain....
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! #ECB says Banco Popular was failing or likely to fail in accordance w/Art18 of Single Resolution Mechanism as liquidity deteriorated.
Italy...
Italy's police chief on London attacker: 'Our conscience is clear' http://dlvr.it/PKSTHP
Another fire has broken out at an Italian waste depot http://dlvr.it/PKR5R1
Italy Econ Development Min: Early Vote Would Be A Mistake
OPINION: 'Italy's mandatory vaccine law should be adopted worldwide' http://dlvr.it/PKQR1N
Germany...
Air Berlin desperately seeks partner, after flight cancellations pile on misery http://dlvr.it/PKSbd8
Ferries between Denmark and Sweden, Germany paused due to 'threat' http://dlvr.it/PKSG3r
Good morning from Berlin! Asia stocks gain ahead of the 3 big risk events tomorrow: ECB, UK elections, Comey testimony. Haven assets retreat
Greece....
Moody's: Less ELA dependence boosts banks http://www.ekathimerini.com/219007
#Greece
Piraeus Bank to sell assets, tackle bad loans in recovery plan http://dlvr.it/PKS3YC
Numerous factors hamper manufacturing http://www.ekathimerini.com/219008
#Greece
State is paying its arrears at snail’s pace
http://www.ekathimerini.com/219006
#Greece
Iran Terror Attack....
Iran blames KSA and US for today's attack..
Iran connecting dots between terror attack and Trump visit to Saudi Arabia.
Interesting....
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..
#BREAKING: 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 ?
#IRAN: Amaq says parliament attack is "ongoing." Rare live updates make this sound much more like hostage situation than typical IS claims
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.
#Iran-ian foreign minister @JZarif to visit #Turkey on Wednesday: sources
http://theiranproject.com/blog/2017/06/0 …
#QatarCrisis… https://twitter.com/i/web/status/8 …
French Government Spox: #Qatar must have complete transparency and answer the question raised by its neighbors. #France #QatarCrisis"
TURKEY'S RULING AKP TO FAST-TRACK BILL ON TROOPS TO QATAR: MUS
Divergence...
So , no response until now to Saudi ultimatums by Qatar...
KREMLIN: REPORTS ON HACKING OF QATARI NEWS AGENCY BY RUSSIAN HACKERS ARE LIES: IFX
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 ?
#UAE's Civil Aviation Authority shuts down #QatarAirways offices across the country. #SeveringTiesWithQatar"Significant:
Emir of #Kuwait Sheikh Sabah Al-Al-Sabah 2 visit #UAE this evening, then head 2 #Qatar later tonight.
#SeveringTiesWithQatar"
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.
#Senegal recalls #Qatar ambassador, backs #Saudi in Gulf row. #QatarMB #QatarCrisis #SeveringTiesWithQatar" #Djibouti lowers its diplomatic representation in #Qatar .
#QatarMB #QatarCrisis #SeveringTiesWithQatar"
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
QATAR CUT TO AA- FROM AA BY S&P; MAY BE CUT FURTHER: BBG
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
Trump changes course on Qatar, offering to mediate among Gulf nations in a phone call with the Qatari Emir http://cnn.it/2rWKEC6
#Bahrain's FM just told a Saudi daily that #Qatar's policies didn't help Kuwaiti efforts to succeed. #QatarCrisis"
Qatar military placed on highest state of alert. Issue warnings on maritime borders
#Singapore's Senior State Minister for Defense, Foreign Affairs Meets #Qatar's Ambassador
http://bit.ly/2sgXCek
#MOFA
Libyan National Army Spox now releasing documents, photos as evidence on #QatarMB sponsoring terrorist groups in #Libya . #QatarCrisis"
Not new though.Libyan army have made these accusations on Qatar 100s of times.Timing significant. They want 2 take Qatar 2 ICC now
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...
Lebanon..
Iraq....
Iraq Kurds plan independence referendum for September 25th...
Venezuela...
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
Libya...
Pres. Council forma committee to address crisis in #Tripoli. #Libya
http://alwasat.ly/ar/news/libya/144148/ …
GNA education minister banned from visiting east - https://www.libyaherald.com/2017/06/07/gna-education-minister-banned-from-visiting-east/ …
Mayor of #Sebha inspects banks in the city as citizens complain about the lack of liquidity. #Libya
http://alwasat.ly/ar/news/libya/144067/ …
Pres. Council allocates 3 million dinars for maintenance at #Tripoli Central Hospital. #Libya
http://alwasat.ly/ar/news/libya/144064/ …
Roundtable discussion on Libyan ports held at Tripoli Chamber of Commerce - https://www.libyaherald.com/2017/06/07/roundtable-discussion-on-libyan-ports-held-at-tripoli-chamber-of-commerce/ …
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