Markets.....
Stocks....
STOCKS RISE: Here's what you need to know http://buff.ly/2u7GplS
June Gloom: Nasdaq Suffers Biggest Loss Since October As Dollar, Bonds, Economy Plunge http://www.zerohedge.com/news/2017-06-30/disappointing-est-economic-data-6-years-sparks-nasdaqs-worst-month-october …
Forexlive Americas FX news wrap: PCE inflation in-line, Chicago PMI beats
Oil.....
WTI now just shy of the 38.2% retracement of the May/June slump http://bit.ly/2s9D8Be
Baker Hughes US oil rig count 756 vs 758 prior
Illinois & Connecticut....
Currently Dems on board with a four year temporary freeze but have strongly resisted a temporary income tax hike. Who gives in?
Rauner has said if income tax hike permanent, income tax freeze must be permanent. He calls it parity.
Even if Democrats and Republicans work out the ancillary issues surrounding the budget, the main question is tax hike.
Judge orders Illinois to pay more toward Medicaid bills: "Other people who are not as needy" are getting bills paid
Durkin back in Madigan's office. Says things fluid, tax bill a huge outstanding question
Senate not expected to take up any major action today. Waiting to see what House does tomorrow.
Update from Illinois-House work done for Friday , however meetings will continue. House in session 11am Saturday. 1
State budget passes first House vote, but huge hurdles remain on deadline day
Moody's has "no comment" on the letter.
Here's a letter Madigan sent to bond houses asking to delay cutting credit rating to junk status. Calls it the "governor's budget crisis."
CONNECTICUT GOVERNOR SIGNS EXECUTIVE ORDER TO TAKE CONTROL OF STATE SPENDING AFTER FAILURE TO PASS FY 2018/19 BIENNIAL BUDGET
US Politics....
Republican lawmakers call for cancellation of August recess http://hill.cm/Q8a9CsI
More fake news claims batted away - this time by a former Medicare Trustee.
White House: Focused On Getting Best Healthcare Legislation, Rather Than On Timeline - RTRS
Sanders says primary WH focus is on passing pending Senate bill to repeal and replace ObamaCare. Seek repeal only if bill doesnt pass.
White House: Fully Committed To Draft Senate Healthcare Bill, Looking At Every Option For Repealing & Replacing Obamacare - RTRS
Trump hasn't made a final decision on the issue of tariffs on steel imports, Sarah Huckabee Sanders says at press briefing.
McCabe in crosshairs...
#Cyberattack Forces West Virginia Hospital to Scrap Computers https://www.wsj.com/articles/cyberattack-forces-west-virginia-hospital-to-scrap-its-computer-systems-1498769889 … via @WSJ #Petya
Nothing left in the pipeline ? WSJ piece was a epic flop.
"National security leaves no room for either compromise or concession," Moon says.
Says North Korea shouldn't underestimate US and S Korea.
Trump and Moon declined to take press questions.
Talk is cheap. Just exactly what does US , Japan , South Korea , China and Russia intend to do ?
Trump says he is sending federal help to quell Chicago violence http://hill.cm/SfPghXB
Discussions about Turkey's intentions regarding Afrin and Northern Syria perhaps ?
GOP chairman: Trump’s infrastructure plan may slip to next year
Ground work laid for Putin -Trump meeting on sidelines of G-20. Note , POTUS also shall meet with China's Premier.
Puerto Rico OBoard approves bankruptcy filing for electric utility although Congress already approved deal. Legal fight to come #muniland
The response from China had to be expected...
Greece.....
Tsipras Promises Hundreds of New Health Clinics as Unionists Protest Cuts (video) http://dlvr.it/PRGFd2 #Greece
Greek State Gets Very Little From Much-Discussed Lagarde and Borjans Lists http://dlvr.it/PRFcsC #Greece
Wildfires Break Out in Attica, Peloponnese in the Midst of Heatwave http://dlvr.it/PRFcn7 #Greece
Corruption Prosecutor Files New Charges in Connection With Chinook Arms Deal http://dlvr.it/PRFcZg #Greece
Greek PM: ‘We Will Not Seek Credit Line Under Supervision After Bailout Program Ends’ http://dlvr.it/PRBY09 #Greece
GREEK CENTRAL BANK REPORT SAYS GREECE NEEDS TO SPEED UP PRIVATISATIONS, IMPLEMENT GROWTH-FRIENDLY POLICY MIX
GREEK CENTRAL BANK REPORT SAYS DELAYS IN CONCLUSION OF SECOND BAILOUT REVIEW HAVE HIT GROWTH
Bank Of Greece Sees Greek GDP Rising 1.6% In 2017
France....
#FRANCE | MARINE LE PEN CHARGED FOR MISAPPROPRATION OF FUNDS, LAWYER SAYS - BBG
#BREAKING Marine Le Pen charged over EU parliament funding scandal: lawyer
New high-speed train lines from Paris to Bordeaux and Rennes set to open http://dlvr.it/PRCxTX
Simone Veil: French Auschwitz survivor who legalised abortion dies aged 89 http://dlvr.it/PRBgx1
Gulf Rift......
How does KSA & UAE Plato liberate Qatar after Sunday July 2nd ? Fireworks before the 4th of July ?
my second-latest:
UPDATE 1- #Bahrain invokes @WTO/s "national security" clause in #Qatar row http://reut.rs/2susy7d via @Reuters
Saudi Arabia, Bahrain and UAE say their decision to cut economic ties with Qatar adhere to @wto GATT XXI national security exemption. Uh oh.
Trump tells fundraiser that Qatar is funding terrorists http://washex.am/2tsyhP6
#Qatar crisis Day 25:
•No breakthrough in DC talks
•More Turkey troops arrive in Doha
•Deadline for response Monday
•
escalation cud follow
escalation cud follow
Most exchange houses in the Gulf have stopped accepting Qatari riyals. Foreign exchanges in many countries have also followed suit.
Saudi Arabia and Qatar are still friends when it comes to oil tankers https://bloom.bg/2t7Ps6b
Tomorrow, Day 1 of British Airways strike, #Qatar Airways will fly for BA on the following routes: LHR to HAJ, ORY, DUB, HAM, LIS, PRG & VIE
Arab Quartet blockade only draws Qatar closer to Turkey and Iran....
Five armored vehicles , 23 military Turkish soldiers arrived to Doha on 6/18. Turkish soldiers sent to Qatar could eventually reach 1,000.
UN pans Arab Quartet demand to close down Al Jazeera.
Odds & Ends...
Syria....
This seems to be an accurate summary of what is going on regarding Al Tanf...
#Syria/n War Report – June 30, 2017: Government Advance Against #ISIS https://youtu.be/W791JvxkB1M via @southfronteng
#BREAKING Islamic State group fully withdraws from Syria's Aleppo province: monitor
ISIS counterattack inside Raqqa District of Al Senaa today. SDF pulls back after fierce attack.
Iraq...
Map update for #Mosul Old city.
Green = completely liberated
Red= clashes.
Libya...
HoR bans visits by Italian ambassador over tweet - https://www.libyaherald.com/2017/06/30/hor-bans-visits-by-italian-ambassador-over-tweet/ …
OK. Some perspective: #Libya’s ’17 budget=$26bn. If Brent=$48 & prod=1mm bpd ⇒ deficit wd still be >$10bn per annum. Breakeven @~1.65mm bpd.
Total blackout in western and southern Libya - https://www.libyaherald.com/2017/06/30/total-blackout-in-western-and-southern-libya/ …
Western #Libya plunged into total blackout on Friday, General Electricity Company reported, adding work is underway 2 restore electric grid.
Libyan NGOs condemn Zawia UN staff kidnapping – call for action against criminal militias - https://www.libyaherald.com/2017/06/30/libyan-ngos-condemn-zawia-un-staff-kidnapping-call-for-action-against-criminal-militias/ …
Libya is a failed state and LPA needs to be adjusted: French Foreign Minister Le Drian - https://www.libyaherald.com/2017/06/30/libya-is-a-failed-state-and-lpa-needs-to-be-adjusted-french-foreign-minister-le-drian/ …
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