Monday, July 17, 2017

Economic News , Data & Views.....July 17 , 2017.....Quick Hits For Monday -1) Markets : Asia - Economic Calendar For Tuesday , Market Moving Data & News ; US - Quiet Monday For US Stock Indexes ( Basically Flatline) , Spot Gold Up 0.46% , US Crude Down 1.16% , US Treasuries See Yields Come Down A Tad ; Europe - Stock Indexes Show Red Today , Other Financial News Of Note From Europe. 2) US Politics : Replace & Repeal Items ; Trump Admin Expands Visas For Foreign Workers ; Travel Ban Loosened To Allow Grandparents To Obtain Visas ; Iran Nuclear Deal Announcement Due From State Department In Days To Come ; Additional News Of Note. 3) Europe In Focus : Greece - Refugee Crisis , Domestic & Political News Of Note , Troika + 1 Related News ; Ukraine - July 17th Marks 3rd Year Anniversary Of Flight MH 17 Malaysian Airlines Being Shot Down Over Ukraine , Ukrainian Corruption Still Uncontrollable Despite IMF Involvement ; UK- Political Round Up For Monday ; Italy - Immigration Blowback , Wildfire Situation & Italian Bank Missive From Bruegel. 4) Gulf Rift Updates For Monday - Various Perspectives On Ongoing Standoff. 5) Syria Updates - While SAA & Allies Barnstorm Toward Deir Ezzor , SDF Seems Bogged Down AT Raqqa Operation. 6) Libya - Various Items Of Note For Monday. 7) Odds & Ends - Global News Of Note.



Markets.....



Asia....






Good morning! Asia stocks lower as US Healthcare bill fall and on further signs of regulatory tightening in China. Weaker oil also weighing.







Dollar drops to 10mth low, hobbled by uncertainty over Fed tightening & worries over Trump's health care reforms.








1 hour ago
Economic data due from Asia today (& RBA minutes)


Pretty strong quake (7.7mg) and not very deep - just 11.7 km...







inject net 170bn yuan via on Tue, after 140bn yuan net inject the previous day.






People’s Bank of China sets yuan reference rate at 6.7611 (vs. yesterday at 6.7562)



FT: Rio Tinto lowers iron ore guidance








New Zealand Q2 CPI flat q/q (est 0.2pct, prev 1.0pct), 1.7pct y/y (est 1.9pct, prev 2.2pct)






West PAC on today's NZ CPI print and the implications for the ... lower for longer











NZ inflation data and RBA minutes due today - here is a twofer preview




Australia - RBA July meeting minutes due today - preview #4


Whoa. This is big news.





US...





1 hour ago
US stocks end the day with small changes



US crude oil future settle at $46.02, down -$0.52



Upcoming key events and releases


Gold moves back above 200 day MA today


Europe...





European stock indices mostly lower




In case you missed Deutsche's new forecast, one of weirdest turns in FX. Expects no longer a plunge to sub-parity but a rise to $1.30.






's last return to the bond market became a roller coaster ride for investors. The 4.75% bond, issued in 2014, is now in pos territory






HSBC calls for more fiscal integration in Eurozone & deficit spending at EU level as most countries except Germany facing fiscal constraints




Crypto Coin News....





LiveBlog Update: Bitcoin ATM Maker Recommends Pause on Trading If UASF Activates


















US Politics.....





House Freedom Caucus members threatening to oppose Republican budget






JUST IN: Mitch McConnell says Senate will vote on a full repeal of Obamacare with 2-year delay, in statement. More:






Replace and Repeal in deep trouble.






GOP Senators Come Out Against Republican Healthcare Bill, Ensuring It Can't Pass





Both Thune and Barrasso say they think there will be a CBO score for the health care bill this week.







Note left at GOP senator's office threatened death if he voted for ObamaCare repeal bill









US healthcare system is worst out of 11 developed nations: study







On the subject of NAFTA , here is the WH strategy...






Trump admin expands visas for foreign workers, claims not enough willing US workers to fill jobs:









Dershowitz: Ruling shows I'm right on Trump and corruption







JUST IN: Tillerson to shut down State Department office on war crimes: report






Republicans join growing calls for Kushner to leave the White House:






JUST IN: Grandparents now allowed to obtain visas under Trump travel ban: report














1 hour ago
ObamaCare repeal faces unexpected setback in Senate:






1 hour ago
Treasury keeps saying there is no prioritization plan....






US to blockade Venezuela, not unlike GCC Quartet ?







Tillerson to make announcement on Iran nuclear deal: White House






Putin's spox said Trump Admin should return seized Russian properties ASAP; says he doesn't know if Putin & Trump discussed it






The tweak that could cost Mike Lee’s vote and sink the healthcare bill



It's not just that an unarmed woman in pajamas was killed , it's that dashcam + both body cams turned off.






Russia and US still at loggerheads over seized property and US attempt to impose preconditions....






Europe...





Greece...




Half of Greeks Between 18-35 Financially Supported by Family





Injured Fireman in Corinth Blaze Dies of Injuries






Almost 10,000 Migrants Stuck at the Camps of Eastern Aegean





asks for another exemption from systematic border checks



Tsipras Hails Drop In Unemployment Sees Increase in Wages






IMF Chief: Greek PM Tsipras Wanted to Change the Euro Zone Rules






Ukraine....




Were the old sticks ever used ?






HISTORY: On this day in 2014, Malaysian Airlines Flight 17 was shot down near the Ukraine-Russia border, killing 298 people on board.






UK.....





1 hour ago
ICYMI David Cameron warns Theresa May she needs 'a more inspiring vision' to win back voters from Labour







The whole premise of this is wrong. Wrongly assumes Leavers understand Brexit more than Remainers. Next leader just needs to be "not TMay".







Jeremy Corbyn tells his MPs to keep campaigning against the Tories through the summer






Theresa May to read riot act to Cabinet ministers over media leaks -







LISTEN: Brexit bill action, committee chairs + interviews with & in our LATEST podcast






Politics meets reality..







"Grenfell Tower & the EU: A North-Booker red herring" picks apart North's claim: "Quite outrageous"








Italy.....




Immigration blowback...






Italy delays vote on citizenship rights for children of migrants







Lazio region calls for state of emergency over wildfires








Strategy of delayed reform has been characteristic of the Italian banking crisis:






Gulf Rift.....





Key UAE figures deny any role in alleged hacking of Qatar , WaPo article declared false.







Gargash-GCC could possibly be "refashioned"/Gulf Rift may be a long running standoff/US role as possible monitor.








Egypt reiterates original list of demands must be met by Qatar or sanctions will remain.







Interesting....







OPINION: Would ’s bet on a draw succeed? writes






BREAKING: Qatar says it regrets that senior officials from the United Arab Emirates were involved in hacking Qatar's news agency.






UAE could be at risk in massive 9/11 litigation , as adding UAE to the litigation is under consideration.







Replying to 
💥 Cabinet says KSA committed to Quartet stmnt on , measures to continue until Doha fully answers all demands made to them.






Libya....






EU restricts sales of rubber boats to Libya migrant smugglers








Libyan oil official says that national oil production stands at 1.032mln bpd






Clear as mud , regarding where things go from here.









Ageilah Saleh: Serraj's intiative violates constitutional declaration and political agreement.





Syria....





And time will tell whether SDF will continue to press on at Raqqa or take long view & Plan B siege approach.







Commander Klara rejects SDF stopped Raqqa operation. "Such rumors are spread to smear our operations. Fighting continues, we are advancing"









Despite official denials from coalition, local sources say SDF are reinforcing defences around Raqqa and re-evaluating tactics, after losses






Key thread on SDF breaking Raqqa operation and moving to Siege - Plan B






Multiple sources tell that SDF have paused Raqqa offensive after sustaining heavy losses.





ISIS defenses collapsing in southern Raqqa today..






Further info on Raqqa op..





Appears SDF operation to take Raqqa on hold due to SDF taking heavy casualties.





Syrian Army liberated Deilla oil field after Zemlah&Kalaa gas fields in south Raqqa CS. HD:





ISIS being hit hard by Russia jets near Sukhnah , a key ISIS stronghold leading to Deir Ezzor.










KREMLIN HAS NO PRECISE INFO ON ISIL LEADER AL-BAGHDADI'S DEATH, CONFLICTING REPORTS ON THE MATTER KEEP COMING - PESKOV: IFX






: Striking map by Reach. Pink areas are destroyed/heavily damaged. Beige are abandoned/largely vacated. Gray still populated.





Odds & Ends....





Turkey...





Pro-Erdoğan Güneş newspaper runs an opinion column comparing Trotsky to Gülen: both traitors who moved to the Americas...




















North Korea...






War between the U.S. and is not inevitable, but it's growing increasingly likely. Pt 1 of a 3-pt series.








South Korea proposes rare military talks with North Korea






Replying to 
If they were to go ahead, they would be the first high-level talks since 2015








Generals in North Korea are losing space for medals It's on the pants now.......