Monday, July 10, 2017

Economic News , Data & Views.....July 10 , 2017.....Quick Hits For Monday -1) Markets : Asia - Calendar For Wednesday , Breaking / Market Moving News & Data ; US - Mediocre Monday Start For Stocks ( Except Nasdaq ) , Minor Moves Upward For US Crude & Spot Gold , US Treasuries Catch Minor Bid Today. ; Europe - Europe Has Moderately Strong Session On The Back Of Friday US Employment Report , Additional Items Of Note For Europe. 2) US Politics : Donald Trump Jr. & Russian Lawyer Caper Top Of the News Cycle , Russian Hack Items De Jour ; DNC Hack An Inside Job Say Some ; Replace & Repeal Updates , Tax Reform Status ; Jane Sanders Alleged Bank Fraud Investigation Accelerates ; Additional Items Of Note. 3) Europe : Greece - Political , Refugee Crisis & Domestic Economy News De Jour ; Germany - After Riots During G-20 , Germany Wakes Up To Fact It Must Deal With Hard Left Criminal Element ; UK - Political Updates For Monday. 4) MENA Odds & Ends : Qatar VS Quartet State Of Play ; Libya - Political Updates , Oil & Economy , Rebuilding , State Of Play - Clashes & Conflict & More ; Syria - Updates On International Politics Of Syria , State Of Play ; Iraq - Mosul Finally 100 % Free Of ISIS , But Vigilance Still Required !




Markets....




Sovereign Debt Selloff resumes...





Bund sell-off resumes. German 10y yields now on course to 0.60%, Now at 0.57%.






Global govt bond yields resume their uptrend. 10y German Yields now at 0.55%, 's JGB's at 0.10%.







Cryptocoin Turmoil.....





Rival factions of computer whizzes playing key roles in bitcoin’s upkeep are poised to adopt two competing software updates by end of July.







Sovereign Debt Rout Eases After Two Hard Weeks....












Bonds bubble stops deflating: Government bonds rebound after painful 2 weeks.






Asia....





Economic data due from Asia today






Good morning! Asian stocks trade near record w/volumes 1/3 below avg ahead of Yellen testimony. Dollar underpinned by US MonPol expectations








Yen is safest haven of them all, Goldman Sachs analysis shows. Mexico Peso, Aussie, Loonie most risk-on currencies.







PBOC breaks the silence, injects CNY40 Bn with 7/14 days reverse repos, net injection 0







JUST IN: Philippine trade figures out and WOW Imports +16.6% (est. 2.6%) Exports+13.7% (est. +16.7%) Deficit swells to largest on record







Here is some Japan eco data ICYMI (the one that hit its highest for the year)





Australia data - ANZ-Roy Morgan weekly consumer confidence 113.0 (vs. prior 114.5)




New Zealand Retail Card spending for June: 0% m/m vs. expected +0.8%)





ASAHI Poll: 61% Of Respondents Say Japan's PM Abe Can't Be Trusted







1 hour ago
Japan press: "Yen seen sliding ..."




US....





1 hour ago
Forexlive Americas FX news wrap: Lackluster session. Slow start to the week.



US stocks end the session with modest changes to start the week



Coming attractions for this week...








Europe....





JPM ups German GDP forecasts on strong trade. Q2 from 2.5% q/q saar to 3.5%, 2017 forecast from 2% y/y to 2.2%, comp to forecast 1.5% in Jan







EU Economy Chief Moscovici: Economy is now strong and solid




European stocks did ok today. All major indices end higher




US Politics.....




Hmmm , looks like the British Publicist statement to The Telegraph is different than what is being reported.








"Don Jr has not received any request from any committee or office. If we do, we will work with (them) to convey what he knows," lawyer says.







Trump names conservative columnist to voter fraud commission







White House contradicts Trump's tweet: He did discuss sanctions with Putin





"Fox & Friends" to address misinterpreted report on Comey memos







Study shows ObamaCare markets are "stabilizing," not collapsing






Capitol police arrest 80 Obamacare repeal protesters






GOP lawmaker on Trump Jr.'s meeting with Russian lawyer: I would have done the same thing







1 hour ago
Key GOP senator: I need a complete overhaul of the GOP healthcare bill for me to vote yes







1 hour ago
RNC head: Cancel August recess until ObamaCare repeal passes








1 hour ago
More than half of Comey's private Trump memos contain classified information






Kind of looks like Skipper on Gilligan's Island , but with no sleep for a week. Russian lawyer did a bait & switch.






GOP member of Senate Intel tells Bloomberg she'd like the committee to interview Don Jr. Don Jr. says he's "happy to" work with committee.






As with Mike , technical analysis not in my area of expertise , but shared on a "FWIW" basis as an interesting read.






"Nobody within the Trump campaign colluded with the Russians to influence the campaign" - – at The White House






"We're confident that it's going to pass," Trump aide Marc Short tells reporters at press briefing. Expect repeal and replace before August.







White House says that Vice President extended invitation to to visit Washington- leaders agreed to meet in near future







Senate GOPers hoping to craft revamped health care bill later this wk with potential vote next week.







Here we go...









Federal Investigation regarding Jane Sanders and alleged bank fraud re : land deal has accelerated in recent months.







Senate Republicans have their credibility on the line. "Take 3" better not lead to "Take 4."








Don Jr.'s third tweet of the day in defense of his actions on this.





Europe.....





Greece....





G.L.W.T...









Tax inspectors identify major dodgers on islands







Gov’t plans to cut corners for paying rebates to companies






Erdogan warns firms not to drill in Cyprus






Lesvos migrants clash with police





Greece doesn't need market to finance the fiscal deficit. The money that is needed in the future is to roll over existing debt says






disbursed today 7,7 bil to Greece and money arrived this afternoon in Athens says Klaus Regling







Germany...






INSA Poll: Germany’s Conservatives Seen At 36%, Social Democrats Seen At 25% - RTRS







German 'dieselgate' investigators target Porsche employees






Police strategy during G20 riots 'simply did not work', say critics






We must stop ignoring left-wing extremism in Germany, Merkel's party declares






UK...




Anger as High Court rules British arms sales to Saudi Arabia are lawful







ANALYSIS: How diminished Theresa May moved from conquest to consensus in just three months







Trouble for Theresa May as Tory ex-ministers question vow to quit EU court:












So much for the olive branch extended from May to Corbyn regarding working together toward Brexit.







Theresa May: As the UK leaves the EU I'm clear we should strengthen our close partnership with Australia






Odds & Ends....





Qatar vs Quartet...




Quartet respond to documents leaked to CNN..







: Leaked 2013 + 2014 Agreements between GCC & Qatar show if vowed no support for Muslim Brotherhood









ICC to : We expect to "correct" their media reports. ICC Prosecutor doesn't comment on political issues 😂






: "ICC expresses regret, praises Qatar, condemns others, etc" Fact: invited ICC, Qatar made up a statement, ICC denied it 😂










Airing this out publicly isn't helpful , if certain parties want to bridge the present rift.







US Secretary of State Rex Tillerson arrives in Kuwait to help resolve GCC row







Sec. Tillerson has arrived in Kuwait for talks aimed at resolving the Qatar crisis.







Qatar Pursues Compensation for Losses from Saudi-Led Blockade







Climb down begins for The Quartet. Winners to date -Qatar , Iran and Turkey. Mucho egg on the face of MbS.







Libya.....






A new diplomatic/military policy for Libya could significantly expand US involvement , may be finalized in the next few weeks.







Mobile phone services of Libyana & Al-Madar, WIFI , DSL Internet & fixed telephone landlines lost , banking system brought to a standstill.







Replying to 
It seems that both sides send reinforcements around Garabulli, east of Tripoli. Clashes still ongoing + unconfirmed reports about airstrikes














1 hour ago
In Libya, intense clashes + shelling in east of Tripoli between pro-GNA and anti-GNA militias; 4 killed and 21 injured since 2 days.








Eastern Military Governor Abdelrazek Nadouri inspects 's Benina Int'l Airport before it re-opens to public






















Since yesterday the optic cable has been destroyed,from Garaboli to Misurata there is no phone or net conection






Hatif Libya announces that its main fiber cables in Gharabouli area got cut, resulting in loss of phone comms. in areas east of it & Fezzan.





Armed convoys from Wady Rabya & Tarhoona on theyre way to Tripoli...many roads in that area blocked







We kmow for a fact that members of are fighting with in city trying to get into












Pres. Council members Maiteeg and Ammari meet w/ security advisor to UN Mission Gen. Paolo Serra.






'S NOC CHAIRMAN SANALLAH DOESN'T SAY IF WILL BE ATTENDING JMMC MEETING JULY 24: WSJ.






Libya not inclined to voluntarily cut its production & considering the hell the country has gone through - logical.





Mustafa Sanalla (NOC Chairman) discusses return of 's Tatneft to w/ CEO Nail Maganov







Syria....





If accurate , Jordan needs to step up its game regarding honoring ceasefire deal.










And to say otherwise, as did, sent CNN into a frenzy... /Daesh






To CNN, the massacre in April with a "rebel" suicide bomber killing over 100 evacuees in a bus convoy, mostly kids, was a "hiccup."







Large retreat this morning by Jaish Osoud al-Sharqiyah, Ahmad Abdo & other US-backed FSA from Sweida giving Gov almost full control of prov.









If South Syria ceasefire deal holds , Iran wants to extend ceasefire plan to cover all of Syria.






Iraq.....







congratulations. is 100% liberated.









I hope i was able to provide everyone with useful information on operation and forces victory. Goodnight from .







PM back in after announcing complete liberation in .