Markets.....
Smooth Operator(s)
Doug Noland in his Saturday Missive "Weekly Commentary: Wonderful Monetary Policy and Beautiful Deleveragings" - a rebuke of Ray Dalio.
#ECB Officials Disagree on How Much Is Too Much for Stimulus Plan. https://www.bloomberg.com/news/articles/2017-07-08/ecb-officials-disagree-on-how-much-is-too-much-for-stimulus-plan …
Global stocks have lost $278bn in mkt cap in #bondageddon week. Banks outperformed on steeper yield curves. Overall fundamentals did improve
#Bondageddon: Global bonds have lost $681bn in value this wk w/ EU bonds in driving seat as ECB undergone biggest perceived shift in mon pol
US Treasury curve has broadly bear steepened in recent rout. US 2s/10s yield spread increased to 98bps after Fri's US jobs report. (BBG)
G-20....
Lovely Day....
Mnuchin on AF1 stressed the relationship Trump and China's Xi are building--"the comeraderie" and "the warmness, the openness."
Trump's bilateral meeting with Germany's Merkel "could not have gone better," Mnuchin said on AF1.
"On the same page on" almost every issue.
Steve Mnuchin tells press on Air Force One "tremendous substance" to parts of communique on trade.
"Incredible consensus" on trade.
Thread from Director Roberto Azevedo - Director General of the WTO on G-20 Meeting ( Hamburg)
NEW: Five takeaways from Trump's whirlwind weekend of meeting with foreign leaders http://hill.cm/ZIgCPXb
Here is the 2017 G-20 communique: http://bit.ly/2sYCPZl
U.S. Squeezes Steel Concessions From G-20 After Tariff Threat
LIVE — Erdoğan: The fact that Europe serves as a safe haven for putschist FETÖ soldiers offends Turkish people
http://sabahdai.ly/tSiM3y
LIVE — Erdoğan: PKK and its affiliated groups collect millions of euros as ransom in Europe, those who murder people are being safeguarded
LIVE — Erdoğan: I thank German police for their devoted efforts during the G20 summit
LIVE — Erdoğan after G20 Hamburg summit: Turkey emphasized the need for a consistent and determined stance against globalizing terrorism
US is only nation objecting to proposed G20 climate statement: report http://hill.cm/lIHyUwa
#Germany's Merkel says that after meeting Turkish pres Erdoğan, 'deep differences' with #Turkey remain.
#BREAKING Merkel says 'deep differences' with Erdogan remain
Working breakfast with Angela Merkel and Emmanuel Macron
http://en.kremlin.ru/events/president/news/55010 …
#g20 #G20HAM17
LIVE: #G20 leaders focused on money laundering, tax evasion, counterterrorism at #G20Hamburg summit - #Putin https://sptnkne.ws/eRfW
LIVE: My impression is @realDonaldTrump took on board Moscow's argument about alleged meddling - #Putin https://sptnkne.ws/eRfW
LIVE: Russia will not meddle in election in Germany, has good relations with the country - #Putin https://sptnkne.ws/eRfW
In Victory For Merkel, G20 Reach Compromise On Trade But Trump Holds Out On Climate http://www.zerohedge.com/news/2017-07-08/victory-merkel-g20-reach-compromise-trade-trump-holds-out-climate …
One official watching G20 mtg said Ivanka has taken Trump's place at table at least twice today and did not speak.
Photo by @LanaLukash shows Ivanka Trump sitting in US president's place, between China's Xi and UK's May, at G20.
https://www.bloomberg.com/news/articles/2017-07-08/ivanka-trump-sits-in-for-her-father-at-g-20-meeting-table …
Modi at G-20....
Trump praised US's "big relationship” Singapore, one of world’s smallest nations. Told Lee Hsien Loong relationship will "get bigger.” @dpa
Trump in good mood, laying on THICK PRAISE:
--"We have a great neighbor" in Canada & Trudeau.
--Merkel doing "really incredible" job at G20.
Trump at women-in-business panel: "If she weren’t my daughter it’d be so much easier for her. It might be the only bad thing she has going."
Merkel calmly explain precisely why Ivanka sitting at the Leaders Table was not a big deal.
#G20 found compromise but people in Hamburg left with question "Who will repair my neighborhood?".
TRUMP SATURDAY:
-UK's Theresa May
-G-20 mtgs
-Indonesia's Joko Widodo
-Singapore's Lee Hsien Loong
-Japan's Abe
-China's Xi
-fly to DC.
#merkel calls meeting a success but also complicated during #G20Summit
#Merkel on trade talks with #Trump: "I don't want to hide from you that it's still difficult to achieve negotiations on trade" #G20
Trump told reporters he has "very special" relationship with UK's Theresa May.
"I will be going to London."
Will work out a date, he said.
#BREAKING: Chinese President #XiJinping and his US counterpart @realDonaldTrump meet on #G20 sidelines in Hamburg #XiVisit (File Pic)
"We'll get there, we'll get there. It's a place I'd like to go," Trump told Indonesia's Joko Widodo, per @AndrewBeatty.
Strengthening cooperation with South Korea...PM @narendramodi and President Moon Jae-in met on the sidelines of the Hamburg G-20 Summit.
Xi-Abe summit: "The two nations are like partners sharing food from the same pot" https://www.bloomberg.com/news/articles/2017-07-08/leaders-of-china-japan-meet-at-g-20-as-north-korea-worries-rise … #China #Japan N. Korea G-20
Protesters hope to attract 100,000 people to demonstrate against the G-20 summit on Saturday https://bloom.bg/2sAvmjT
“We will keep mkts open, continue to fight protectionism." G20 reaches compromise on Trade after wrangles on 1st day https://www.bloomberg.com/news/articles/2017-07-08/g-20-reaches-compromise-on-trade-after-wrangles-on-first-day …
#G20 protests LATEST:
- 100+ arrested
- Some 200 officers injured
- Saturday’s demonstration mostly peaceful
https://on.rt.com/8h89
#G20 protests in #Hamburg - watch LIVE https://www.rt.com/on-air/395706-g20-protests-hamburg-police/ … #G20HH17 #G20HAM #g20protest
Trump, Putin have ‘robust’ first encounter at G-20 summit in Germany - The Japan Times http://www.japantimes.co.jp/news/2017/07/08/world/politics-diplomacy-world/trump-putin-robust-first-encounter-g-20-summit-germany/ … #news
First lady Melania Trump not allowed to leave residence in Hamburg because of ongoing protests due to G-20 summit. http://abcn.ws/2tRS235
No comment needed! #G20Hh17
Iraq....
We Are The Champions....
From Mosul Eye , ISIS territory in all of Mosul - East and West , reduced to zero.
#Mosul is completely liberated.
Literally going out with a bang....
The coast Tigris river from #Mosul Old city side.
Syria....
A Love Supreme....
Hasn't this been clear 4 some time? Deal = fig leaf for those wanting Iran roll back. Allows RU & US to focus on ISIS. Delays hizb on Golan
Syrian Democratic Forces captured al-Mahdi district and 70% of ar-Rafiqah district in the Old City of #Raqqa
Map: http://syriancivilwarmap.com
Syrian Arab Army captured Al-Hail gas field from Islamic State
Map: http://syriancivilwarmap.com
#Raqqa | #SDF captured al-Mazarie Square in al-Barid district
http://en.hawarnews.com/sdf-liberates-al-mazarie-square/ …
#DeirEzzor | #ISIS targets Harrabesh district with mortar shells. 10 people were wounded and 1 woman was killed
Gulf Rift Updates....
Round In Circles....
Thread on the partisan policies pursued in MENA by the 3 Gulf states. Refreshing—when just describing those actions triggers high emotions.
Qatar calls Quartet claims (terrorism , interference in internal affairs) defamation , Qatar main commercial port working at full capacity.
Iran to launch direct marine route to Qatar http://xhne.ws/gOAkF
All the latest developments on the Qatar-Gulf crisis: http://aje.io/eppt
What's next for Qatar and the GCC? http://aje.io/5v53 via @AJUpFront
Qatar's main commercial port is operating "at full capacity", Hamad Port chief says http://aje.io/6ce2
Qatar rejects latest threat of 'siege countries' http://f24.my/1RsQ.t
POV piece on tactics against Qatar & Turkey , explains why certain nations taking Qatar's back...
Quarter Doesn't see Qatar responding in good faith...
Stay tuned ...
Odds & Ends....
Stormy Monday....
Japan...
Japan continues to struggle to recover from record Flooding Rain that hit July 4-6 from Tropical Storm Nanmadol.
https://www.weather.com/news/weather/video/death-toll-rises-in-japan-flooding …
#SoSad: 15 Die In Southern Japan Heavy Rain Flooding
http://www.gt9ja.com/sosad-15-die-in-southern-japan-heavy-rain-flooding/ …
Flooding in Japan continues , death toll at 16 presently...
Spain...
Ciudadanos' Albert Rivera not happy with Leopoldo López house arrest: "we demand his freedom and that of all Venezuelan political prisoners"
PSOE leader Pedro Sánchez says Leopoldo López being allowed home "is a step forward", "…still many political prisoners in Venezuela".
Mariano Rajoy tweets he is "happy" after Spanish newspapers report release of Venezuelan opposition leader Leopoldo López.
Libya...
The two sides have three days to start making serious attempts to find compromises on amendments to the LPA.
THIS - " The crown prince also wished the Libyan National Army “good luck” in achieving further victories against extremists and 1
terrorists “in order to liberate ALL Libya from these destructive menaces."( - emphasis mine on ALL.) 2
Highly recommend reading the accurate depiction of the #Libya Paradox by @reportingLibya:
President of European Parliament calls for migrant agreement with #Libya, similar to the one signed with Turkey
http://www.alwasat.ly/ar/news/libya/146673/ …
#Italy FM Alfano: 31 million euro's allocated in attempt to control #Libya's southern borders
http://www.alwasat.ly/ar/news/libya/146666/ …
#Benghazi's Benina Airport nanager calls on employees to return to work. #Libya
http://www.alwasat.ly/ar/news/libya/146675/ …
North Korea...
Rex Tillerson: US, Russia have differing views on how to deal with North Korea http://washex.am/2uAehrL
A look at the US military's options to confront North Korea http://abcn.ws/2sz2MPI
Could the US take out North Korea's missiles before a launch?
http://cnn.it/2sQ1zYu
BREAKING: 2 US Air Force B-1 bombers from Guam fly near DMZ on border with N Korea in 'show of force,' escorted by South Korean fighter jets
#NKorea's nuclear test site continues to be in standby mode--no significant new activity, but can test if given orders.
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