Markets......
Asia.....
Economic data due from Asia today (Vote #1 ForexLive!)
China's May CPI a tad better, but PPI misses expectations
From @FastFT: The pound is down more than 1 per cent against not just the dollar but all of its international peers http://on.ft.com/2s9BAuw
PBoC Fixes USDCNY Reference Rate At 6.7971 (prev fix 6.7986 prev close 6.7995
PBoC Drains A Net CNY 10 Bln Via Open Market Ops This Week Against A Net CNY 30 Bln Injection Last Week
PBoC Open Market Ops:
- CNY 20 Bln Via 7 Day Reverse Repos
- CNY 20 Bln Via 14 Day Reverse Repos
- CNY 20 Bln Via 28 Day Reverse Repos
BoJ To Buy JPY 880 Bln Worth Of JGBs:
- JPY 280 Bln 1 - 3 Year
- JPY 300 Bln 3 - 5 Year
- JPY 200 Bln 10 - 25 Year
- JPY 100 Bln 25+ Year
SLJ has answer to new bond conundrum (low long-term yields): Shortage of safe haven assets is serious & has been exacerbated by worldwide QE
US.....
Nasdaq composite index closes at record level
Forexlive Americas FX news wrap: ECB, Comey done. UK election up next
UK General Election...
A) Initial data and reactions..
UK election: Houghton & Sunderland South win for Labour
UK election - First seat to declare is for Labour
May majority might be in doubt but a softer Brexit deal could be potentially better for the pound
Tory and Labour sources both v skeptical about the poll, ranging from 'i don't believe it', to 'it's wrong' - let's see
Get your popcorn or your tums...
Exit poll reaction. Pound pummeled for now.
Exit polls see conservatives fall short of majority. Would complicate everything. #brexit #GE2107 @dw_europe
#Breaking: no seats majority for Tories, minority govt next?
B) 10pm ( EST) Round Up....
Theresa May has given a statement on the election results so far - read it here:
http://bit.ly/2r6FNyV
Jeremy Corbyn: We have changed the face of British politics http://bit.ly/2r0Pnzu
Tory Leavers in government stunned and apoplectic about these comments
BREAKING: An SNP source tells me "Salmond's gone".
More incredible gains in Scotland for the Tories. It's saving their ass.
They will
(a) have a 2 seat majority
or
(b) a working majority with NI unionists
Or
(c) just scrape in with Scottish conservatives miracle
Clegg out. Cable back
322 seats would mean Tory govt (just) given Sinn Fein abstention (and likely DUP deal). But surely need broader Brexit approach than that
BBC's 322 estimate for the Tories seems a stretch
But when you take a step back, AS THINGS STAND results suggest Tories may get slightly more seats than the 314 exit poll forecast. V tight.
UPDATE ON #GE2017
(91/650)
Labour 49
Conservative 30
SNP 7
Others 5
(91/650)
Labour 49
Conservative 30
SNP 7
Others 5
Ministers now saying not expecting to outperform exit poll
Euro rises to highest level against the Pound since the start of this year #GE2017
The denial is fading: Cable falls to fresh lows
Sterling headed back to session-lows. Labour retains Darlington
Labour 15
Conservative 10
(15 of 650)
#GE2017
Examining how the cards are falling..
Lib Dem source at Clegg's count says he has lost
The exit poll is broadly right.
Theresa May is finished.
So is the hard Brexit.
Another election soon.
And who knows what else.
Both parties will have to review their intel gathering on the ground after this election. Neither saw this coming #GE2017
US Politics.....
Comey Hearing......
( Some Highlights From 4 Hour Hearing . Much More At Timeline...)
Today's testimony by Comey certainly has some eyebrow raising moments. This was one of those moments.
Two questions: Did Comey "memorialize" his "matter/investigation" conversation with AG Lynch - and why did it take so long to come out?
US Pres. Trump’s Personal Lawyer Kasowitz: Comey Testimony Confirms Trump Never Sought To Impede Russia Investigation – RTRS
WH sources add that Trump was kept busy this morning w/ Mattis, Tillerson, McMaster convos + prep for Faith & Freedom lunchtime speech.
WH sources tell me they're relieved Trump hasn't live tweeted. That was a fear/expectation earlier in week. Don Jr. channeled his father,
Comey says he's not trying to suggest something "nefarious," just doesn't want to weigh in on ongoing probe.
Comey took a huge shot at Loretta Lynch...
#Comey says there have been "Many, many" news stories about Russia probe that are just "dead wrong" (Reuters) #ComeyTestimony
Rubio gets to the crux of the matter,& gets Comey to concede,that Trump said he was happy for associates to be investigated in Russian probe
Rubio makes important pt--"the cloud" was Russia, but Trump's ask was always about saying he himself wasn't under investigation
Comey tells Risch Trump personally was not being investigated.
COMEY: TRUMP DIDN'T ORDER HIM TO LET FLYNN PROBE GO
COMEY: TRUMP HAS NEVER ASKED ABOUT ANY OTHER ONGOING PROBE. NEVER ASKED TO INTERFERE WITH ANY INVESTIGATION: TESTIMONY
BIG DENIAL: President did not say he wanted Comey's loyalty or ask Comey to drop case against Michael Flynn in any way, Trump source says.
Comey says he knew there might come a day he needed to defend himself, and defend the integrity of FBI and independence of FBI's functions.
THANKS, BILL. Comey confirms ex-Pres. Clinton's tarmac meeting with Loretta Lynch last yr sparked his decision to speak out about his probe.
Comey also says he was directed by the AG at some point in 2016 to call email investigation a "matter" which "confused me"
Law Professor: I don’t see obstruction of justice in Comey’s testimony
Comey Day a thing , because no other Circus is in town today...
Bill To Repeal Parts Of Dodd-Frank Passes House...
US House passes bill to repeal parts of Dodd-Frank financial regulations that were enacted in response to 2008 crisis; bill goes to Senate.
US-Qatar ...
President Trump is offering Secretary of State Rex Tillerson to mediate the crisis between Qatar and other Arab nations
DOHA, Qatar (AP) - Qatar diplomat tells @AP emir won't leave while country 'in blockade,' can't attend Trump mediation at White House
Prolonged isolation of Qatar by KSA & its allies could see the collapse of GCC & Turkey’s entrance to the region.
Political Odds & Ends Today
When you lose Chris Matthews......collusion theory circling the drain....
Exclusive: Deutsche Bank says privacy laws prevent Trump disclosures
Wall Streeter Anthony Scaramucci, bumped from a key role in the early days of the administration, makes a comeback.
BREAKING: Jared Kushner will meet with Senate Intelligence Committee staffers mid-month.
#BREAKING: Comey told senators of third undisclosed Sessions-Russia meeting: report http://hill.cm/aJWsg07
US Attorney General Session Had Undisclosed 3rd Meeting With Russia - NBC
Permits can take "well over 10 years" to obtain, Trump says. "We think we can get it down to a number that is 2 years and maybe even less."
Infrastructure's "going to take off like a rocket ship," Trump tells governors & mayors at White House. Waterways "crumbling" in many ways.
TRUMP to evangelical Christians: "We're under siege, you understand that....But we will come out bigger and better and stronger than ever."
Qatar Vs KSA Et Al....
( Much More At T.L )
Full list of individuals and organizations designated as supporting terror organizations..
Following joint statement by Saudi, Egypt, UAE &vBahrain, Interpol issues red notice (international arrest warrant), for 25 terrorists. Following joint statement by Saudi, Egypt, UAE &vBahrain, Interpol issues red notice (international arrest warrant), for 25 terrorists.
Erdogan has ratified yesterday's Bills passed by Parliament...
#UAE Reinstates Total Ban On #Qatar-Linked #Oil Tanker Movement http://oilprice.com/Latest-Energy-News/World-News/UAE-Reinstates-Total-Ban-On-Qatar-Linked-Oil-Tanker-Movement.html … #oott
Cyber warfare seems weapon of choice for today against embattled Qatar..
#Qarar - state TV on Twitter: We have suspended our website for "security concerns" as we are under cyber attack.
#QatarCrisis"
QATAR: WE WILL NOT SURRENDER TO SAUDI ARABIA : AL JAZEERA
EMIR OF QATAR TURNED DOWN TRUMP'S REQUEST TO VISIT HIM IN THE WHITE HOUSE, HE WILL GO TO PRESIDENT PUTIN IN MOSCOW INSTEAD THIS SATURDAY
Qatar not surrendering.Turkey & Iran step up to support Qatar. Qatar Foreign Minister flying to Moscow Saturday.Boom
QATAR FOREIGN MINISTER SAYS 40 PERCENT OF UAE POWER DEPENDS ON THE NATURAL GAS OF QATAR (followed by "just sayin'...")
Pressure on Qatar mounts as Middle East tensions flare http://www.hurriyetdailynews.com/pressure-on-qatar-mounts-as-middle-east-tensions-flare.aspx?pageID=238&nID=114102&NewsCatID=352 …
33 trucks laden with fruits, vegetables, livestock destined for Qatar return to Jordan http://www.jordantimes.com/news/local/33-trucks-laden-fruits-vegetables-livestock-destined-qatar-return-jordan … via @jordantimes
Bahrain follows UAE in criminalizing support of Qatar or opposition to measures taken by Gov't.
QATAR FOREIGN MINISTER SAYS DIPLOMACY IS STILL OUR PREFERRED OPTION
QATAR FOREIGN MINISTER SAYS NOT WORRIED ABOUT FOOD SITUATION, SAYS WE CAN LIVE FOREVER LIKE THIS
Turkey sees its defence ties with Qatar as an indispensable pillar of its strategic posture in the region....
Italy....
Italy in focus..
ITALY 5-STAR'S DI MAIO SAYS NOW NO CHANCE OF DEAL ON ELECTORAL REFORM, CALLS FOR IMMEDIATE NATIONAL ELECTION RTRS
WIND DOWN OF VENETO BANKS WOULD COST OTHER ITALIAN LENDERS 11BLN EUROS TO GUARANTEE DEPOSITORS - SOURCE
ITALIAN GOVT BOND YIELDS HIT DAY'S LOW AFTER REPORT THAT ITALIAN BANKS ARE CONSIDERING A JOINT RESCUE OF VENETO BANKS
Italian Banks’ Private Capital Injection Into Veneto Banks Would Pave The Way For State Bailout - RTRS Source
Greece- IMF Statement Today
IMF:Lagarde will participate in the Eurogroup in Luxembourg next week
IMF:program in principle will come into play if proves impossible to reach debt agreement before mid July when GR needs money for repayments
IMF:primary objective remains full package reforms-relief/only if we achieve it we will release money/ in principle is not preferred option
IMF:approval in principle it's in GRs best interest bc preserves reform progress/helps catalyze debt relief/avoids disorderly fin situation
Good read on latest contortions the IMF seems set to put itself through regarding Greece.
An argument made for debt relief for Greece , in lieu of a fourth bailout program.
Syria....
Astana Talks on Syria Crisis Postponed
http://alwaght.com/en/news/100086
#Syria
#AstanaTalks
#SyriaCrisis
Libya....
AGOCO Info Office: Flights to & from oil fields to resume at #Benghazi's Benina Airport after a 3 year halt. #Libya
http://alwasat.ly/ar/news/libya/144249/ …
Fayez Serraj discusses joint cooperation between #Germany and #Libya with Foreign Minister Sigmar Gabriel
http://alwasat.ly/ar/news/libya/144253/ …
Unity Gov't hold expanded security meeting at #Tripoli International Airport. #Libya
http://alwasat.ly/ar/news/libya/144268/ …
Telegraph: One of the London attackers fought for the Liwa al-Ummah group in #Libya
http://alwasat.ly/ar/news/libya/144224/ …
Hafter appoints former Beida interior minister as head of military investment authority - https://www.libyaherald.com/2017/06/08/hafter-appoints-former-beida-interior-minister-as-head-of-military-investment-authority/ …
Southern politicians create political bloc - https://www.libyaherald.com/2017/06/08/southern-politicians-create-political-bloc/ …
Staff at Sharara strike after death of colleague - https://www.libyaherald.com/2017/06/08/staff-at-sharara-strike-after-death-of-colleague/ …
The Pres. of provisional government orders to arrest & ban anyone affiliated to the government of national accord. https://goo.gl/viLgrz
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