Thursday, August 10, 2017

Economic News , Data & Views.....August 10 , 2017.....Quick Hits For Thursday -1) Markets : Asia - Economic Data For Friday , Market Moving Data & News , North Korea Items To Consider ; US Stocks Have Hard Sell-off Today , Gold Catches Flight To Safety Bid , Oil Reverses Early Gain And Sells Off As Well ; Europe - Not Unlike Wall Street , Key European Bourses See Red Today , Euro Gains Vs Dollar , Additional Items Of Note. 2) North Korea - As The Confrontation Between US _ North Korea Seems To Be Coming To A Head Over Planned Missile Test Near Guam - News Of Day From North Korea. 3) US Politics : North Korea Items To Consider ; Swampland News ; Russia Related Matters. 4) News From Across Europe To Consider For Thursday. 5) Odds & Ends From MENA !



Markets....




Asia......




Reminder - Tokyo Stock Market closed Friday ! Head for the hills day seems like an appropriate tag for this !







Governor's Opening Statement to the House of Representatives Standing Committee on Economics -






NZ data - REINZ house prices, sales (House Sales July -24.5% (prior -24.7%))


South Korean Export Prices (Y/Y) Jul: 8.0% (prev 4.90%; rev prev 4.7%) -Import Prices (Y/Y) Jul: 5.4% (prev 2.30%; rev prev 2.0%)






1 hour ago
Economic data due from Asia today - fried and furry back on the table!

US.....




Stocks ended 200 points lower, looking at their biggest one-day drop since May 17







1 hour ago
ForexLive Americas FX news wrap: Second-worst day of the year for the stock market



Oops! This chart shows how brutal an unwind of VIX bearish bets could become. Net short positions have hit a record of 158,114 contracts.





US 30-year bonds sell at 2.818% vs 2.820% WI


Swiss National Bank is buying US stocks like crazy. What's behind the SNB's shopping spree on Wall Street. via



Europe......




Euro hits fresh high as the war of words heats up


European major indices lower. 10 year yields little changed.


US and German 10y yields drop as US PPI came in weaker than exp. Both headline and core prices have underwhelmed by 0.2-0.3ppts.





Replying to 
With an ECB insurance (OMT) already in place & explicit pol insurance (your idea of an EMF) to install, you will kill any market discipline.





North Korea....





READIES MISSILE SHIELD AS THREATENS GUAM: NIKKEI





Not surprisingly , NK refuses to bow down to latest bluster from POTUS....








NK defector Reaches SK by sea today...






North Korea Rally - after POTUS fury and fire rant....






Read on why is planning long-range flight test over , toward



I joined earlier to chat about the KCNA statement on a Hwasong-12 salvo test near Guam





Japan to boost surveillance for N.Korea missiles


N. Korea vows to mercilessly wipe out the provocateurs. US will suffer a shameful defeat





Here's why North Korean missiles are now a real threat to Civil Aviation
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First reference that I've read to NK possibly using an EMP device , in the event of a conflict.








Corrected: Flight corridor over Shimane, Hiroshima, and Kochi Japan should DPRK conduct east coast launch..





Replying to 
I just confirmed this: IC in consensus on missile-mateable compact warheads; NGA and DIA back the fissile material assessment for now.





Note that the fizmat assessment (enough Pu/HEU for 60 weapons today & 12-per-year production rate) is backed by DIA & NGA only, AFAIK.




US Politics....




Swampland....




Trump Administration Plans Release Of Short Tax Overhaul Framework Document In September, But Not Legislation – RTRS Sources




Anticipation is going to build...







Trump backs McMaster in face of alt-right attack: "He’s my friend and he’s a very talented man. I like him and I respect him.”




Has confidence in Gen McMaster. "He’s my friend and he’s a very talented man. I like him and I respect him," said Pres Trump.





Hatch tweets support of McConnell. He’s president pro tem & chair of committee with health care and tax jurisdiction






Trump: I say very simply, where is repeal and replace? Now I want tax reform and tax cuts. We’re going to reduce taxes for the people.




Trump: All I hear is repeal & replace. And then I get there & I said, ‘Where’s the bill? I want to sign it, 1st day.’ And they don’t have it





PRESS: Should Mitch step down? TRUMP: If he doesn't get repeal done, and taxes and infrastructure, "then you can ask me that question."




*TRUMP: TOLD MCCONNELL I WANT `VERY BIG INFRASTRUCTURE BILL': BBG





Nikki Haley loses her chief of staff and communications director, says both departures are bc of "family concerns"


Russia Probes & Investigations...





1 hour ago
Old news..






Replying to 
Bloomberg reported that Manafort told "authorities." It's being interpreted as FBI, but he actually told Congress, which NYT reported July 8




Manafort spox shoots down idea that he squealed to the feds about Trump Tower meeting. "Paul, and jared, told the Hill. This is old news."




Weird. Fox News obtained an email that Trump lawyer John Dowd sent to a WSJ reporter. Haven't seen a WSJ report.




Fusion GPS gave Senate Judiciary a bunch of news clippings last night. Not contracts and emails being sought.


North Korea.....



Here we go - Trump sets forth newest redline to North Korea. Launching missiles near Guam will result in US Retaliation.





US Defense Sec Mattis: Diplomatic Efforts On North Korea ‘Gaining Traction’




Query - Does alleged NK's plan for missile testing ending in waters near Guam constitute "attack" for Trump ?






"Someone has to say yes. Someone has to steer the ship."




Graham: Trump told me he is ready to launch preemptive strike against North Korea






Wargaming an EMP strike perhaps ?




POTUS interview snippet from today..






Just putting more gas on the fire...





So in today's "Game Of Escalations" chapter-Pentagon publicly unveils its preemptive strike B-1 Bomber plan for NK.






Europe....



Europe - US about to cross swords due to US sanctions against Russia ?




Since the EU referendum, UK goods & services exports have increased by 11.4%, confirms the UK Department for International Trade. One year!




Contaminated eggs spread to Denmark..




Two arrested in Europe as egg scandal spreads east




Numbers game...





North Korean tankers stay away from Russia, two months after OFAC sanctions




Greek Central Bank Emergency Funding To Greek Banks Drops To EUR34.6B In July From EU37.9B In June - RTRS





Interesting....





Dutch and Belgian investigators launch coordinated raids in bid to crack insecticide-tainted eggs case -





Meanwhile on Europe's Borders: Illegal immigrants from Africa storm a beach in southern Spain via




Odds & Ends.....




Libya....




Libyan Coastguard rescues 135 migrants off the coast of .





Fayez Serraj's migrant agreement w/ causes split within Pres. Council.





Libyan Navy (Unity Govt) warns foreign NGO vessels involved in rescue of migrants not to enter territorial waters





Salamé in first visit to Benghazi -





crisis pushes Libyans into the world of virtual payments




Tripoli experiencing shortages electricity, petrol, money.










Italian warship arrives Tripoli (replaces warship that arrived last week)






Turkey....








Turkey issues another arrest warrant for 35 journalists over the use of encrypted messaging app. 9 journalists detained this morning so far.






Gulf Rift....





This has kind of been moved from news cycle , as this has devolved into what will be a long term standoff....







banks lost half of its investors and were downgraded in the same week




Syria.....




Replying to 
Syrian border map after Syrian Army secured Sweida province border with Jordan






Syrian Arab Army and allies control all main points and borderposts on the Syrian - Jordanian inside Sweida province




US-Russia cooperation bearing fruit in Syria.



SAA starts fighting ISIS inside Deir Ezzor..




& allies finished the battle of al-Badiyah, recovering south-east until the Jordanian borders with 4000 sqkm under control.