Friday, June 9, 2017

Economic News , Data & Views.....June 9 , 2017.....Quick Hits For Friday - 1) Markets : US - Story Of US Stock Indexes Today Was Rotation Out Of Tech High-Fliers , Divergence Between Dow ( Up 89 ) & Nasdaq ( Down 113) , S&P Basically Unchanged , Gold Took Another Beatdown , Oil Up Modestly , US Treasury Yields Up a Bit As Well. 2) UK - Assessing Aftermath Of Stunning General Election 2017 - Succinctly State , PM May Gambled On An Early Election , The Gamble Backfired & Now She Is Prepared To Soldier On With Her Top Team Intact Into Brexit Talks. 3) Europe - Around The Horn : Spain - Catalan Gov't Announces Independence Vote For October 1st , Spanish Gov't Announces It Will Launch Another Constitutional Challenge Against This Referendum ; France - Macron's EM Party Set To Win Approximately 30% Of The National Assembly First Round Votes , But Corruption Woes Stalk His Coalition Partner ; Greece - Pending Prior Actions Approved , But Doubts Regarding Debt Relief Greece Might Receive Coming Forth From June 15th Eurogroup Meeting. 4) US Politics : ComeyDay Aftermath ; Trump Presser Today - ComeyDay & Qatar Jumped Out For Sure ; Additional Items Of Note.5) Qatar- KSA Et Al Blockade With Regional Implications - News Of The Day. 6) Odds & Ends - India & Pakistan Become Permanent Members Of Shanghai Cooperative Organization , Iraq / Syria & Libya News De Jour.


Markets.....



US.....





1 hour ago
Forexlive Americas FX news wrap: Nasdaq tech tumble steals UK election


A big down day in the Nasdaq as the high flyers take it on the chin


Nasdaq down 154 points or -2.42% in Friday rout




Baker Hughes oil rigs 741 vs 733 last


UK...






Hammond confirmed as UK Chancellor in new cabinet



Confirmation That Johnson, Hammond, Rudd, Davis, Fallon Keep Positions In UK Cabinet







UKs PM May: Will reflect on what we need to do....



Outcome such as this really need to be examined by Tory leadership. Incredible shift in 2 years...







Tusk congratulation letter to May - wants talks in 'best possible spirit' but 'no time to lose'




UK PM May: Will Form A Govt & Brexit Talks To Start In 10 Days





BREAKING: UK Prime Minister Theresa May says Britain needs certainty now more than ever; she'll work with Northern Ireland party.




Theresa May says she will go ahead with Brexit negotiations and ends by saying 'let's get to work'





Post-mortem....



MAY REACHES DEAL WITH DUP TO ALLOW HER TO REMAIN PM: GUARDIAN





EU's Barnier says "negotiations should start when UK is ready"


THERESA MAY TO REMAIN AS PRIME MINISTER FOLLOWING ELECTION: SENIOR PARTY SOURCE






Broader Europe...




Spain....





Yup , just remains to be seen how heavy handed Rajoy choses to be...




Spanish government announces it will launch another constitutional challenge against new Catalan independence referendum.






Catalan Leader says Independence Vote will occur October 1st - and we shall see if that comes to pass.




France ...





French prosecutor opens investigation into Macron alliance partner






Macron's party forecast to win 31.5% of seats in French election first round



France, Harris poll: EM+-ALDE: 30% ↓ LR+-EPP: 19% ↑ FN-ENF: 17% ↓ FI-LEFT: 12% ↑ PS+-S&D: 7% ↓




Greece......




Government approves pending prior actions with eye on aid






Greek anti-austerity protesters pelt police with fish






Greece wants growth incentives, debt relief clarity at June 15 Eurogroup






Job data point to emigration



US Politics....


( Much More At Twitter Timeline...)




Interesting.....




Better late than never that the media discover was clear last summer...Bill on the tarmac meeting....











Trump is going to Poland









House Intel Committee requests Comey tapes if they exist by 6/23:




Trump lawyer Mark Kasowitz issues new statement, saying statement yesterday "was accurate."





The man , the mouth , the tweets ....the legend lives on...









Wait , what ?????




So , as Turkey is backing Qatar in Qatar vs KSA et al / GCC "Battle Royale" , means US has Turkey's back , right ?






Do Tillerson & Trump even talk , coordinate statements , try to get on same page ?







Trump immediately goes off in opposite direction from SoS Tillerson regarding Qatar.





Trump blasts Qatar; praises Saudi only hours after Tillerson outlines a more nuanced policy. Left hand/right hand?





Trump's call with Egypt president Sisi: fight terrorism but play nicely





Ethics aspect could be problematic for Comey , separate and apart from other concerns regarding his conduct.



Letting Comey testify and not evoking Executive Privilege was a good call...




Qatar VS KSA Et Al....



( Much More At Twitter Timeline , Just Highlights..)


Basically-Erdogan says he knows Saudis & UAE were happy during attempted Turkey coup-b/c he has an intel agency too.




Basically, Erdogan is saying during last 2016 Coup attempt , he knows who was naughty and who was nice.




UAE Banks asked to freeze Bank accounts of individuals or groups on prohibited list...







Replying to 





- Hotels still showing |i channels will be fined 24,000 euros.






Turkish jets alleged to be on the way to Qatar..







Replying to 
Turkish soldiers to train Qatar Gendarmerie. Turkish land , sea and air troops also to be deployed. First phase to see 200-250 T soldiers.





Bahrain Foreign Minister set to meet with Turkey President Erdogan Saturday re : regional developments.







Qatar rejects list of individuals and groups linked to terror released by KSA/UAE/EGY/BAH , as baseless.







Another good read regarding state of political play in MENA..





FM of Qatar: “We can live forever like this, We aren’t ready to discuss an intervention into our sovereignty”




Muscat emerges as transit hub after Qatar Ban.





Qatar Vows No Surrender, Puts Military on Alert





Odds & Ends....



Iraq....





Mosul will fall soon , but ISIS will sow chaos in Iraq , from time to time.





Libya....





Abdulrahman Swehli meets with UN envoy Martin Kobler to discuss latest political developments.







Abdulrahman Swehli meets with German FM Sigmar Gabriel.
 







Unity Gov't Transport Under-Secretary: Italian Company contracted to build Passenger Hall at Int'l Airport






Amna Imteir (Pol Agreement Committee): Martin Kobler hindering meeting b/w HoR and State Council to amend agreement







Ageilah Saleh calls on House of Representatives to restructure Constitutional Committee.






's Bouteflika discusses situation in and the Sahel with 's Macron








's largest oil field Sharara to reopen after NOC chairman Sanalla orders a review of ambulance services










‘‘Using oil as a catalyst for peace, not conflict’’ Libya’s NOC chairman Sanalla -







Alleged human trafficker and 168 migrants caught in Zliten -








Syria.....




Replying to 
forces will keep their occupation 4 northeast of ( & al-Hasaka provinces) under Kurds protection




Replying to 
lines r crumbling n (as well as n ) but also occupation of Tanaf border control will soon end





Replying to 
Although and forces meet on both sides of the borders, no crossing for Iraqi forces is expected.





Replying to 
In over 2 weeks, & allies recovered 20.000 sqkm from (twice the seize of )





Shanghai Cooperative....






Pakistan officially joins Shanghai Cooperation Organization as Permanent Member in Astana . This what isolation looks like?






India gains full permanent membership of Shanghai Cooperation Organisation (SCO)