Wednesday, June 21, 2017

Economic News , Data & Views......June 21 , 2017.....Quick Hits For Wednesday-1) Markets : Asia-Economic Calendar For Wednesday , Market Moving Data & News ; US - Mixed Market Day - Nasdaq Strong / Dow Weak / S&P Basically Unchanged , Gold Up 3 Bucks / Oil Off About A Buck / Ten Year Treasury Yield Basically Unchanged . 2) US Politics : Domestic Items ( Iowa Trip By POTUS & Various Officials , Senators Meet With Special Counsel Mueller , Dems Fallout From Special Elections Losses Tuesday , Obamacare / Replace & Repeal Updates , House Whip Steve Scalise Update ) ; International Items ( Qatar , Trump-Saudi Crown Prince Phone Conversation , North Korea) ; Additional Items Of Note.3) UK : Queen's Day Speech ; Tories - DUP Talks Updates ; Trump Visit Deferred ; Other News Of Note. 4) Europe In Focus - Items From Germany , France , Italy , Brussels. 5) MENA Updates - Qatar & Gulf Crisis , Saudi Arabia Succession Surprise , Iraq CT Move Closer To Routing ISIS In West Mosul , Syria Updates , Libya News For Wednesday.



Markets......




Asia....





Good morning from Berlin. Asia stocks rise despite oil rout. Yen climbs with Gold. US yield curve flattest in almost a decade on hawkish Fed






Here is what's on the economic data calendar in Asia today today - RBNZ soon



PBOC sets USD/CNY mid-point today at 6.8197 (vs. yesterday at 6.8193)



PBOC drains net CNY 80bn in reverse repo







1 hour ago
Takata To File For Bankruptcy In Japan June 23 Or 26 – Asahi






1 hour ago
RBNZ announcement - on hold (as expected)



1 hour ago
Japan economy - on the up (but the BOJ is missing its target)



US....




It's the Nasdaq's turn to steal the spotlight





ForexLive Americas FX news wrap: The oil slide continues to lowest since August



Oil falls to the lowest since August




US Gulf Of Mexico: 17% Of Oil Production Shut In By Hurricane Cindy Around 5% Of Gulf Of Mexico Platforms Evacuated, 7% Of Rigs Evacuated








US oil production +0.2% w/w to 9.35 mbpd



Weekly US oil inventories -2451K vs -1200K expected



As if Iran & Saudi Arabia/ UAE would all of a sudden lock arms & work together-as the current "Gulf Rift" continues.








US Politics....




Trump's Lindsay Walters on Air Force One, asked about Comey tapes, says: "I can tell you there will be something this week."





Trump in Iowa will highlight precision agriculture and "his commitment to work with Congress on increasing broadband connectivity."




Part of reason Trump in Iowa is to send off "the favorite son of Iowa, former Gov Branstad," press spokeswoman Lindsay Walters said on AF1.





PRESIDENT DONALD TRUMP'S LEGISLATIVE TEAM HAS BRIEFED HIM ON DETAILS IN SENATE HEALTHCARE BILL - WHITE HOUSE SPOKESWOMAN






Trump aboard AF1 for IOWA. Also: -Ag Sec Perdue -Commerce Sec Ross -Rep Rod Blum -Terry Branstad -Gen Kellogg -Commerce COS Wendy Teramato





NEW: Sens. Feinstein, Grassley, Graham and Whitehouse release statement on meeting with Special Counsel Bob Mueller:





Michael Moore is correct..






Backburner time..






One day after SoS Tillerson called out Saudis/UAE/Bahrain/Egypt for dragging feet on list of demands-list drawn up.1






Tillerson hopes demands in exchange for ending blockade against Qatar are "reasonable"







Anthem ending ObamaCare plans in Indiana and Wisconsin






Trump and new Crown Prince talked today..






"Steve Scalise continues to make good progress. He is now listed in fair condition" and is healing, hospital says.


Fmr DHS Sec Johnson to Hse Intel Cmte: The Russian gov't at the direction of..Putin hacked and tried to affect our election. That is a fact.




FBI's Priestap to Senate Intel Cmte: Absolutely Russia will continue influencing..operations targeting the US





An interesting read. Before forming opinions , always wise to consider different perspectives and points of view.







Rand Paul weighs in support of POTUS decision to w/d from Paris Agreement, noting manifest unfairness & job losses.







"Oscar" plans to enter 5 O-Care Exchanges-today is preliminary deadline for insurers re: notice of intent to sell.









North Korea floats notion of moratorium - if its varioua,conditions are met. No sale.






Top of Trump's mind last 24 hours: --keeping Rs in congressional seats --frustration with Dem "obstruction" --annoyance about North Korea.







Dem lawmaker after Georgia loss: "Time to stop rehashing 2016 and talk about the future"






UK.....





Backburner time..






Tories and DUP Talks make some progress..







Theresa May forced to ditch key manifesto pledges on foxes, school meals and more in watered-down Queen's Speech






READ The FULL Queen's Speech laying out the Tories' legislative plans -






ANALYSIS: What was the point of that election?






Ministers plan eight new laws to deliver Brexit






Fresh doubt over Donald Trump state visit after no mention in Queen's Speech





Speech By BoE’s Haldane Titled ‘Work, Wages And Monetary Policy’






News Across Europe...




German finance ministry monthly report: Brexit brings opportunity



France's Macron: I've not stated that Assad's departure is a pre-condition for everything because nobody has shown me a legitimate successor





France's Macron Rules Out Bi-lateral Talks With UK on Brexit Macron Says It's Difficult To Stop, Reverse Brexit Talks





Italy Tax Police Search Offices Of Several Banks In Prove Over Alleged Diamond Sale Fraud - Reuters




EU Plans To Limit European Investment Bank Payback To UK To EUR3.5Bln Reports Spiegel




Germany's Merkel: German Economic Outlook Remains "Good"




INTESA SANPAOLO BOARD APPROVES OFFER FOR GOOD ASSETS OF VENETO BANKS




"the transfer of the assets and liabilities, if finalised, will be against a token payment."



*INTESA SAYS PRICE OF TRANSACTION WILL BE SYMBOLIC




Schaeuble: We Will Promote Home Ownership In Germany If Merkel's Conservatives Win September Election - RTRS




Schaeuble: Will Have To Do Something With Corp. Tax In Coming Years, Partly Because Of Possible Tax Competition From Elsewhere - RTRS




Schaeuble: We Will Have Wriggle Room Of Around EUR15 Bln A Year If We Pursue A Modest Fiscal Policy In Coming Years - RTRS




Schaeuble: The Longer The Period Of Expansive Monetary Policy Lasts The Greater The Danger Of Risks




Italy spread over Germany shrinks to lowest since Jan as investors chasing higher yielding paper on deflationary impact of lower oil. (RTRS)






As France Turns......







Macron suffers second notable resignation in two days !








Breaking - - Prosecutor says Brussels Gare Centrale bomber was Moroccan aged 36. Device was bag that contained nails and gas bottles






Qatar....





Qatar's SWF has transferred over $30 bn worth of domestic equity holdings to Finance Ministry-may sell other assets in restructure drive.









Here is a list of the key players who have been involved in the GCC rift








Yes , this really happened...





crisis Day 16: •Tillerson rushes list of demands •UAE's MBZ meets Macron •Qatar Emir sends letter to Putin •15000 🐫 leave to Qatar





QATAR'S EMIR CONGRATULATES SAUDI CROWN PRINCE ON NEW ROLE: QNA




QATAR SOVEREIGN FUND MOVES STAKES TO FINANCE MINISTRY: REUTERS





Saudi Arabia....




Absolutely correct..






stocks surge over 4 pct on appointment of new crown prince







King Salman throwing weight behind son at time when MBS projects collapsing ...







's new crown prince has been central in efforts to isolate . Ouster of Bin Nayef is not good for the Muslim Brotherhood 😏😁







As per royal decree published by SPA , King Salman called for a public pledging of allegiance in Mecca today to the new crown prince.









Iraq.....





Slow and steady advancement. ..








Old city map. Before and after (24hrs later).








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





Horrific news-ISIS deadenders blow up Al Hadba Minaret in Old City Mosul today as it became clear it would be taken.






Replying to 
Blowing up Nuri Mosque indicates how desperate sure of its defeat in its last stronghold in the old






First image of Al-Nuri Mosque after detonated in Old city.






Syria....





YPG💩 couldn't have supported and cheered the US downing of a Syrian jet at a worst time... and then held the pilot hostage... smh








Great take on present and future state of play...






To all those asking about the intervention in : FYI, there is a military ops room n w/ , , & +







Replying to 
follows daily every battle taking place in , coordinate tactics along the borders btw both countries.









Libya.....





Reps and member of the High Council of State from , establish a new bloc named after ’s capital, Tripoli








1 hour ago
Speaking at migration conference in Brussels, Sarraj rejects any proposals to establish reception centers in








1 hour ago
At conference, Sarraj asks for additional support to Libyan coast guard to curb illegal immigration







Following & accord, Tripoli Municipal Center urges IDP to return to their homes after coordination with the






Libya Banks getting worse-not better. Why don't meetings with interested countries ever address this meaningfully?









Fayez Serraj to meet with NATO's Secretary-General in Brussels on Thursday.







Serraj welcomes appointment of Prince Muhammad Ibn Salman as crown prince of Saudi Arabia -






126 dead after migrant boat capsizes off the coast of















Abdulrahman Swehli meets the head of 's National Commission for Human Rights








Invitation sent for Serraj, Haftar and Ageilah Saleh to hold meeting in Zintan.