Thursday, June 8, 2017

Economic News , Data & Views....June 8 , 2017......Quick Hits For Thursday Topics De Jour -1) Markets : Asia - Calendar For Friday & Market Moving Data & News ; US : Stocks Indexes Show Nasdaq The Shining Star , Dow & S&P Basically Unchanged ; Gold Had Rollercoaster Day With #ComeyDay Effect , Oil Traded In A Range From $46.18 Down To $45.20 ; US Treasuries Modestly Higher On The Day. 2) UK General Election : A) Exit Polling , Early Results & Reactions ; B) Projections From BBC Now See Conservatives At 322 Seats - 8 More Than Exit Poll Estimates , Everything Still In Flux With Many Tight Races . 3) US Politics : Senate Comey Hearing Today ; Bill To Repeal Parts Of Dodd-Frank Passes House ; Political Odds & Ends Today. 4) Qatar & Allies VS KSA & Allies Updates For Thursday. 5) Italy - 5 Star Party Demands Immediate Elections , Veneto Bank Rescue Updates. 6) Greece - Debt Relief , IMF Lays Out Position Ion Greek As June 15th Eurogroup Meeting Looms. 7) Syria- Astana Talks On Syria Postponed , Safe Zone Details Still Being Worked Out. 8) Libya - Key News For Thursday.


Markets......



Asia.....




Economic data due from Asia today (Vote #1 ForexLive!)



China's May CPI a tad better, but PPI misses expectations






From : The pound is down more than 1 per cent against not just the dollar but all of its international peers






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...






1 hour ago
Exit poll reaction. Pound pummeled for now.





1 hour ago
Exit polls see conservatives fall short of majority. Would complicate everything.






1 hour ago
: 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:







Jeremy Corbyn: We have changed the face of British politics







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.







Replying to 
UPDATE ON (91/650) Labour 49 Conservative 30 SNP 7 Others 5






Ministers now saying not expecting to outperform exit poll







Replying to 
Euro rises to highest level against the Pound since the start of this year








The denial is fading: Cable falls to fresh lows







1 hour ago
Sterling headed back to session-lows. Labour retains Darlington Labour 15 Conservative 10 (15 of 650)






Examining how the cards are falling..







1 hour ago
Lib Dem source at Clegg's count says he has lost







1 hour ago
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





US Politics.....




Comey Hearing......


( Some Highlights From 4 Hour Hearing . Much More At Timeline...)






Photographer ’s high angle image as take his seat today:







1 hour ago
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,







Replying to 
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...





Replying to 
says there have been "Many, many" news stories about Russia probe that are just "dead wrong" (Reuters)







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.




Replying to 
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 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.






: Comey told senators of third undisclosed Sessions-Russia meeting: report







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..






Replying to 
💥 Following joint statement by Saudi, Egypt, UAE &vBahrain, Interpol issues red notice (international arrest warrant), for 25 terrorists.






Replying to 
💥 Following joint statement by Saudi, Egypt, UAE &vBahrain, Interpol issues red notice (international arrest warrant), for 25 terrorists.





4 ARAB COUNTRIES ADD 59 INDIVIDUALS, 12 ENTITIES WITH LINKS TO TO THEIR TERRORISM LISTS - OFFICIAL STATEMENT: RTRS.





Erdogan has ratified yesterday's Bills passed by Parliament...









Cyber warfare seems weapon of choice for today against embattled Qatar..





Replying to 
💥⬆️ - state TV on Twitter: We have suspended our website for "security concerns" as we are under cyber attack. "





Replying to 
QATAR: WE WILL NOT SURRENDER TO SAUDI ARABIA : AL JAZEERA





Replying to 
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'...")











33 trucks laden with fruits, vegetables, livestock destined for Qatar return to Jordan via




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....























Libya....






AGOCO Info Office: Flights to & from oil fields to resume at 's Benina Airport after a 3 year halt.








Fayez Serraj discusses joint cooperation between and with Foreign Minister Sigmar Gabriel








Unity Gov't hold expanded security meeting at International Airport.








Telegraph: One of the London attackers fought for the Liwa al-Ummah group in







Hafter appoints former Beida interior minister as head of military investment authority -



















The Pres. of provisional government orders to arrest & ban anyone affiliated to the government of national accord.