Friday, August 11, 2017

Economic News , Data & Views.....August 11 , 2017.....Quick Hits For Friday-1) Markets : US Stocks Have Minor "Wounded Cat" Bounce Today , Gold And Oil End A Bit Higher , Bond Yields Drop On Geopolitical Tensions ; Europe Stocks Follow Asia Lower , Monte Paschi Announces Loss For Q-2 / Q-2 Revenue & CET1 Sharply Higher ( 15.4% Vs Q-1 CET1 Of 6.5%) , BOE's Saunders Comments Today. 2) US Politics : North Korea Updates For Friday - US / NK & Other Voices Heard From ; Swampland News That You Might Have Missed Due To US-NK Exchanges Of Bluster & Threats. 3) Venezuela - Trump Say He Hasn't Ruled Out Military Action , Financial Woes Cascading. 4) Libya Internal & Domestic News. 5) Syria - State Of Play From Certain Fronts.



Markets.....



US...




1 hour ago
US stocks end the session with gains for the day. Not so fortunate for the week


Crude oil futures settle at $48.82 /BBL


Bakes Hughes total oil rig count 768 v 765 last week


Fed's Kashkari: Today's CPI report was another reason to wait rather than hiking


Europe.....




European stocks struggle again in rough week


MONTE DEI PASCHI DI SIENA SAYS Q2 LOSS DUE TO 4 BLN EUROS OF WRITEDOWNS LINKED TO SALE OF BAD LOAN PORTFOLIO




Monte Paschi Q2 Revenue Of EUR919.5 Mln -CET1 Ratio End-June At 15.4% (Vs Transitional CET1 Ratio End-March Of 6.5%)




Monte Paschi Announce Q2 Loss Of EUR3.1 Bln, Cites Writedowns Linked To Bad Loan Portfolio




BoE’s Saunders: Brexit Probably Means UK Growth Will Be Several Percentage Points Less Than Usual



BoE’s Saunders: If Growth Surprises On Upside, BoE Might Need To Be A Bit More Activist



BoE’s Saunders: His Hunch Is That UK Growth Will Be Ok, Jobless Rate Will Continue To Fall




US Politics......



North Korea,,,,



Trump, with Haley, McMaster and Tillerson: "We're very unified" on North Korea.




"We are considering additional sanctions at a very very high level," Trump, at Bedminster, says of North Korea.




This sounds correct......





Replying to 
IC consensus: DPRK can make missile-mateable fission bombs. DIA and NGA: fissile material at 60 bombs/growing 12/year. CIA: RVs are good.






Replying to 
NEW: US Intelligence: 's ICBM Reentry Vehicles Are Likely Good Enough to Hit the Continental US




A sign NK is prepping for a potential emergency situation - but not an indication any attack is imminent.





You have to prepare for the unexpected...







"If he utters one threat in the form of an overt threat" or does anything to Guam, US territory or ally, he'll "regret it fast," Trump says.





Merkel rips Trump: There is no military solution to the North Korea crisis






"Let her speak for Germany...She's certainly not speaking for the United States," Trump, at Bedminster, says on Angela Merkel's comments.







The annual joint exercises of US and SK , will take place from August 21st through August 31st.






Mass rallies were held in South & North Phyongan, South Hwanghae & Hamgyong provinces of the NK rejecting the recent UN sanctions.





U.S. and North Korea are in regular contact through back channel diplomacy




Replying to 




Banking on preemptive strike knocking out all of NK capabilities on nuclear side , very risky gambit.




Something to keep an eye on...




Replying to 
This is still the first KN20 movement activity I've heard of since the July 28 launch. Longer still for the KN17.




Very good points - NK has studied outcomes for Saddam/Gaddafi (best to get and keep WMD ) and state w/Iran Deal.





Russian ForMin Lavrov: Russia-China Plan To Defuse North Korea Crisis Exists - RTRS




Russian ForMin Lavrov: Russia-China Plan Would Have N.Korea Freezes Missile Tests - RTRS





Russian ForMin Lavrov: Plan Would Have US & S.Korea Stop Large Scale Exercises - RTRS





"Military solutions" displacing diplomacy in 2017 ?







Swampland.....







*Manchin not yet ruling it out* *WH, GOP officials discussing possibility* *Would give big boost to Trump's stalled agenda.*



Manchin, who was interested in Energy chief post in November, faces a tough re-election battle in 2018 in W. Va.





THE MEMO: Trump's base delighted after week of attacks on McConnell





Dem lawmaker demands Congress “immediately” return to pass bill preventing Trump from striking North Korea





ACLU sues Trump administration over arrests of immigrant teens






Navy secretary breaks with Trump on transgender troops: "Any patriot" should be allowed to serve






1 hour ago
Investigators want to interview Trump's longterm personal secretary in Russia probe





Senate Republicans are tweeting out their support for McConnell right now







While POTUS says Iran not in compliance with nuclear deal , NK watches and must wonder is there a point to talking ?




Apparently, Iran will not take U.S. claims on lying down.





We shall see..









GOP considers making tax cuts retroactive:






Trump has consistently backed McMaster.





Venezuela....





President Trump won't rule out US military action as an option in response to the mounting crisis in Venezuela






: Trump does not rule out US military action in Venezuela






1 hour ago
Venezuela's woes are so dire that its U.S. refineries are turning to Canada for oil






regime’s financial flexibility continues to shrink.





Russia taking advanced Venezuela Gov't plight to exert de facto dominion over Venezuelan oil.






Credit Suisse Halts All Purchases of Venezuelan Bonds to Avoid Financing Maduro Regime




Libya.....



Sources confirm Khalifa Haftar will be in Moscow on Saturday.




Pres. Council source denies Fayez Serraj will meet with Khalifa Haftar in Moscow.











Administrative Control Authority suspends top anti-corruption officials – on grounds o ... -






Syria........




An interesting update on Al Sukhnah....note how SAA is dealing with ISIS tunnels , catacombs and IEDs.








The opposition rep pointed to a recent “reluctance” in hitherto regular financial donors as main reason for the current budgetary crisis.







Hardline Islamists to ban smoking, the "one way to relieve the stress" in city. "This will not stand."