Economic data due from Asia today - China the focus
China data: (May) Industrial Production 6.5% y/y (expected 6.4%)
China data: (May) Retail Sales 10.7% y/y (expected 10.7%)
China (May) Fixed Assets (excluding rural) YTD y/y 8.6% ( expected 8.8%)
PBOC sets USD/CNY reference rate for today at 6.7939 (vs. yesterday at 6.7954)
SK Unemployment Rate SA May: 3.6% Est (3.9%), Prior (4.00%)
Updated--> NZ largest quarterly current account deficit since December 2008 http://news.forexlive.com/!/nz-data-q1-balance-of-payments-current-account-bn-prior-2335bn-20170613 …
NZ data - Q1 Balance of Payments Current Account $ 0.244bn (prior -2.335bn)
New Zealand - Food Price inflation (May): 2.4 % m/m (prior -0.8% m/m)
China industrial production data due today - preview
New Zealand house price data for May (REINZ)
S&P and Dow has record closes. Nasdaq still working on reversing declines.
Record # of Fund Managers say stocks overvalued, 3/4 say internet stocks expensive/bubble, long Nasdaq #1 crowded trade, BofAML survey shows
44% of Fund Managers say equities are overvalued, the highest response on record, up from 37% in May, acc to BofAML Fund Manager survey.
"Long Nasdaq" tops the crowded trade list again in June's Fund Manager Survey, up 12 ppt from May.
Private oil inventory data shows a surprise build in crude stocks
US Politics ....
Is Trump taping conversations inside White House? No updates on that, Sarah Huckabee Sanders tells press gaggle.
"There aren't any final decisions on that front yet," Sarah Huckabee Sanders says on AF1 when asked about Cuba policy.
Trump to Republican senators: The House health-care bill was “mean”
Sarah Huckabee Sanders in gaggle on AF1 says "while the president has the right to, he has no intention to" fire special counsel Mueller.
Few details are known about US Senate's version of GOP health care plan: the working group is operating in secret.
Deputy AG Rosenstein: “I have not" seen any reason to fire the special counsel in the Russia investigation.
A very important read..
When is someone to ask whether North Korean hackers "possibly" attempted to hack into US state electoral systems?
Apparently has been in a coma for a year. Sounds like the poor kid was brutalized while imprisoned.
AG Jeff Sessions told Senate Intel he has never had any conversations with Russians or other officials about interference in U.S. elections.
BREAKING: Sessions says he was not silent when FBI director Comey expressed worry on Trump meeting, contradicting Comey testimony.
AG Sessions says he recused himself from the Russia investigation, but not from defending himself from "scurrilous and false allegations”
AG Sessions say he told Comey that he agreed with need for proper communication protocols with the White House for ongoing investigations.
Sessions provides his account of discussions with Russian Officials..
SESSIONS SAYS "NOT ONE THING IMPROPER" HAPPENED IN EITHER OF HIS TWO MEETINGS WITH RUSSIAN AMBASSADOR
AG Sessions: Suggestion that I colluded, or was aware of collusion, with Russians to undermine US "is an appalling and detestable lie."
SESSIONS SAYS HAS NO KNOWLEDGE OF ANY COLLUSION BETWEEN TRUMP CAMPAIGN AND RUSSIAN OFFICIALS
BREAKING: WH gives SECDEF/DoD authority to determine troop number limit in #Afghanistan, a defense official tells BuzzFeed News
Dem leaders try to kibosh on quixotic impeachment push...
U.S. ambassador to Qatar steps down after several Gulf nations cut ties with Doha http://nbcnews.to/2s77kgO
TRUMP PERSONAL LAWYER COHEN SAYS HE HAS BEEN SUMMONED TO TESTIFY BEFORE HOUSE INTELLIGENCE COMMITTEE ON SEPT 5 -BLOOMBERG
This @realDonaldTrump firing Mueller business seems to be a case of REAL fake news that could have been avoided with a simple fact check
Sounds like Chris Ruddy won't be invited back to the White House anytime sooon...
Sean Spicer says Ruddy never spoke to Trump about this, and only the president or his attorneys "are authorized to comment" on this subject.
U.S. SECRETARY OF STATE TILLERSON SAYS U.S.-RUSSIA RELATIONSHIP IS AT AN ALL-TIME LOW, AND DETERIORATING, OBJECTIVE IS TO STABILIZE THAT
DEFENSE SEC MATTIS: WILL TAKE ALL MEASURES TO PROTECT US FORCES IN #SYRIA, STRIKES AGAINST PRO-SYRIAN GOVT FORCES WERE SELF DEFENSE: RTRS
A.G. Lynch made law enforcement decisions for political purposes...gave Hillary Clinton a free pass and protection. Totally illegal!
Insurer exits bolster GOP case for ObamaCare repeal: http://hill.cm/owAp56Z
Leading health groups launch joint campaign against GOP's Obamacare repeal bill: http://hill.cm/8RAeW0D
EU tussle with Hungary , Poland & Czech Republic over refusal to take asylum seekers taken to next level..
ECB COMPLETES FOREIGN RESERVES INVESTMENT IN CHINESE RENMINBI EQUIVALENT TO €500 MILLION
German FinMin Schaeuble: Before Common EU Deposit Insurance, Risks Must Be Cut
SCHAEUBLE SAYS THE ECB HAS TO IMPLEMENT A MONETARY POLICY THAT SUITS THE NEEDS OF ALL EURO ZONE MEMBERS
UK PM May: Had ‘Productive Talks’ With DUP On Stable Govt
UK PM May: Brexit Talks To Begin Next Week, Wants To Maintain Close Relationship With EU
1. The language of "hard" vs "soft" Brexit is so misleading. We need a good, clean exit which minimises disruption and maximises opportunity – at Houses of Parliament
2. In other words, we need the "softest" exit consistent with actually leaving and controlling laws, money, borders and trade
3. (of 3) and that means delivering on the whitepaper so @tradegovuk can get on with improving UK and global trade https://www.gov.uk/government/publications/the-united-kingdoms-exit-from-and-new-partnership-with-the-european-union-white-paper … – at Houses of Parliament
NEW Furious DUP MPs hit back at 'bile, hate and venom' against party amid Tory deal talks, PolHome reveals http://bit.ly/2swKO3F
Michael Gove hints at compromise on Government’s Brexit plans - http://bit.ly/2sweVs3
British Cabinet Discussed The Ongoing Talks With The DUP To Secure A Confidence And Supply Arrangement - RTRS
Drive to house quake victims, assess damage on Lesvos http://dlvr.it/PM3GdT
Employers expect more hirings this summer across the economy http://dlvr.it/PM2wSC
Greece lags most EU peers in GDP figures, consumption http://dlvr.it/PM2wJP
Govt spox:Tsipras trusts Tsakalotos but he's not sure whether a body in which Schaeuble participates (€group) can provide positv solutn 4 GR
Schäuble on @atsipras "He keeps calling the whole time& the chancellor says again and again 'Alexis, this issue is for the finance ministers
BOARD OF ITALY'S INTESA SANPAOLO HAS DISCUSSED ISSUE OF VENETO BANKS BUT HAS NOT MADE ANY DECISION- BOARD MEMBERS
ITALY-GERMANY 10-YEAR GOVERNMENT BOND YIELD SPREAD TIGHTEST IN THREE WEEKS AT 173 BASIS POINTS - TRADEWEB
Renzi again rules out Italian general election this year. Key question of what electoral system will be used remains unanswered, though.
Veneto Banca solution looks like senior bailout, Junior/Perpetual bail-in.
TURKISH FOREIGN MINISTER SAYS HE WILL TRAVEL TO QATAR ON WEDNESDAY, AND TO SAUDI ARABIA "IF POSSIBLE"
Airlift of cows to minimize impact of blockade...
Iraq opposes KSA , et al blockade imposed on Qatar...
QATAR, WORLD'S SECOND-LARGEST HELIUM PRODUCER, SHUTS ITS HELIUM PLANTS DUE TO ECONOMIC BOYCOTT -INDUSTRY SOURCES
Few things •Jubair: sovereign right for #Saudi to close airspace •Tillerson takes no Qs •Jubair says no blockade,Tillerson used word on Fri.
#Qatar crisis Day 9: •Jordan King in Kuwait today •Putin called Saudi King •Macron will talk to Tamim+Erdogan •Doha Defense Minister in DC
MHP leader parrots AKP line on purpose of Turkish base in Qatar....
ODDS & Ends...
Kobler indicates giving up UN job during Tripoli visit - https://www.libyaherald.com/2017/06/13/kobler-indicates-giving-up-un-job-during-tripoli-visit/ …
Italian embassy mocks HoR’s terrorist list, attracts criticism - https://www.libyaherald.com/2017/06/13/italian-embassy-mocks-hors-terrorist-list-attracts-criticism/ …
CBL unity unlikely in short term: UN report - https://www.libyaherald.com/2017/06/13/cbl-unity-unlikely-in-short-term-un-report/ …
Who rebuilds Raqqa ?