Friday, August 4, 2017

Economic News , Data & Views....August 4 , 2017......Quick Hits For Friday- 1) Markets : US - Stocks Have Another Mixed Day With Dow In The Green Modestly But For 8th Straight Day ( Nasdaq & S&P Off A Bit Today ) , US Crude Settles At $49.58 Up 55 Cents , Treasury Yields Reverse Field From Yesterday On Back Of Strong Non Farm Payroll Report And Unemployment Data , Information Related To Employment Situation Report ; Europe- Stock Indexes And Europe End Lower As Dollar Strength After US Jobs Report Whacks Euro Today , Europe Economic Data To Consider For Various EZ Countries. 2) US Politics : North Korea Updates - New Sanctions Under Consideration To Hit Exports Of NK ; Non Russia Related Matters Of Foreign Policy ; Friday Swampland News ; Friday's "Leaks" Briefing - AG Sessions & ODNI Chief Coats ; Russia Related Matters. 3) Benjamin Netanyahu Being Investigated For Fraud , Breach Of Trust And Bribery , Netty's Top Aide Turn's State Witness. 4) Addendum - Libya Updates , Saudi Arabia Controversy In Eastern Province , Syria Battlefront News And Qatar - Gulf Rift.



Markets.....




US....




US stocks end the session with modest gains. Dow has 8 straight record closes


WTI Futures Settle At $49.58/Bbl, Up $0.55





US Baker Hughes Rig Count 4-Aug: 954 (prev 958) -Rotary Gas Rigs 4-Aug: 189 (prev 192) -Rotary Oil Rigs 4-Aug: 765 (prev 766)




US July Jobs Report keeps alive US rate hike forecasts, Index up as jobless rate falls. Our reaction piece:




July Non Farm Payrolls-solidly better than expectations.June revised higher.Unemployment rate dropped last month.






Dollar jumps, Bonds drop following strong US jobs data. Labor Jul Nonfarm Payrolls +209k vs 180k exp, UR 4.3% as exp, AHE +2.5 vs 2.4% exp.





Europe....




European stocks like the lower EUR. All major indices higher.

Ireland Industrial Production (M/M) Jun: -7.50% (rev prev 3.00%) -Industrial Production (Y/Y) Jun: -7.50% (rev prev 6.60%)





















Italy Retail Sales (M/M) Jun: 0.60% (est 0.10%; prev -0.10%) -Retail Sales (Y/Y) Jun: 1.50% (prev 1.00%)





Spain Industrial Output NSA (Y/Y) Jun: 3.50% (rev prev 4.90%) -Industrial Output SA (Y/Y) Jun: 2.70% (est 2.80%; rev prev 3.30%)



Spain Industrial Production (M/M) Jun: -0.10% (est -0.20%; prev 1.40%)








US Politics.....



North Korea...



Some details on additional sanctions under consideration by US against NK.





One reason why NK has not hesitated in pushing forward with its nuclear program , has been predictable US responses.





Something to ponder..





Quick takeaways - NK believed to be finishing development on H bomb in 6 to 18 months , as per DoD. 1




Non Russia Foreign Policy....



Trump and France's Emmanuel Macron spoke for about an hour by phone today--about North Korea, Venezuela, Syria, Ukraine and other matters.




Swampland....



: Trump officially notifies UN that the US is withdrawing from the Paris climate deal




Cutting out the freelancing and bickering..



Steps that Kelly has implemented are all promising - perhaps some will argue long overdue , but good signs indeed.




Mattis had to intervene in dispute between Bannon and McMaster during policy meeting: report




Kelly says he won't try to stop the tweets but will block staff freelancing and control flow of junk info to Trump

Neither Hse/Senate has ok'd an adjournment resolution. Will meet in brief sessions at 3 day intervals. Bars recess appts.





Leaks Briefing .....




I think you will see quite a few people charged with leaking moving forward , based on today's briefing.




2 big takeaways : 4 already charged by DOJ for leaking ; referrals from Intel Agencies to DOJ re:leaking-exploding.




DAG Rosenstein says DOJ is in early stages of reviewing media subpoena policy, will consult w/ news execs before finalizing




This is bad. But Obama WH started the trend of targeting journalists along with leakers, according to scholars & press freedom advocates.







Most recent leaks reflect extreme disloyalty and were very embarrassing to POTUS.





Russia Related Matters...




Flynn appears to be in Mueller's crosshairs...






1 hour ago
Graham warns Mueller: You'll be held accountable for leaks from Trump-Russia probe






Krauthammer: I don't support Trump, but impeaching him would be a "catastrophic mistake"





Senate unanimously blocks Trump from making recess appointments






Looks like Russia will oppose new UN sanctions on North Korea







Robert Mueller using grand juries in Virginia and D.C. in Trump-Russia investigation






LAVROV TO HAVE BILATERAL MEETING WITH FOREIGN MINISTER IN PHILIPPINES IN COMING DAYS - SOURCE IN RUSSIAN FOREIGN MINISTRY: IFX





Netty In Trouble...




Something to keep an eye on...




This all may be true, but police don't indict - can only recommend indictment. Attorney General makes decision (w State Prosecutor input).





Netanyahu, at the end, says he'll continue working for citizens of Israel. He honestly looks tired/haggard.





Bibi issues fbook video. Mentions terror victim, settlement bldg, African state @ UN, security forces. Calls latest news "background noise."




Replying to 
Fwiw Harow reportedly got really sweet deal from authorities: No jail time, 6 months community service & fine. Netanyahu should be worried.




Replying to 
Ari Harrow originally investigated re his own fraud case. Police found tapes of Bibi & leading publisher favor trading in his possession.





Addendum.....




Libya...




Libyan navy rescue 698 migrants





Protest in against the involvement and calling a traitor.





’s Ghwell: “Macron’s brave, but took the wrong path.” Moderate Salem Joha: “Don’t heed the hardliners; their following is limited”





Images showing protestors in Algeria Square protesting against Italian vessels entering 's territorial waters.







Misrata-Cyrenaica talks in Cairo end with generic statement,return of IDPs in Benghazi & Tawergha seems 1 key issue



- first pictures (via ) of 1st naval vessel from arriving at Abu Sitta - Comandante Borsini patrol vessel






invested heavily in its support of Serraj/GNA & always had the (+ oil/gas) as its focus in its policy.





Serraj invited to send navy units into 's water, because is a principle supporter of Serraj & GNA.





Saudi Arabia...



KSA asserts fighting rebellion. Locl residents say KSA trying 2 destroy Awamiya Old City 2 force inhabitants 2 leave under rebellion pretext






It's amazing that you find very little western media coverage on KSA actions to its citizens in Al Awamiya and Qatif








| Saudi Aramco in $2b talks to take >30% stake in 's 260kbd PetroChina refinery - sources. WSJ.





Syria.....





After criticizing Turkey of demographic change & allowing HTS takeover of Idlib, Khalid al-Mahamid was removed from Opp envoy at Astana talk








Syrian Arab Army captured Abu Hammad and Salim al-Hammad from Islamic State Map:






Replying to 
Deir Ezzor, Raqqa, Homs Map 04/08/17 Red: Syrian Gov Green: Al-Qaeda & other jihadists Black: ISIS Yellow: YPG Orange: Joint YPG-SAA







Replying to 
E. : approx. situation on 8th day of Regime offensive supported by & |ian-backed forces to take -held .






ISIS has been routed by the Syrian Army south of Deir Ezzor city and is now calling for general mobilization of all young men






In the map , the northern most axis is 60 KM from Deir Ezzor. At the bottom-you can see the axis that move out from Palmyra , at Al Sukhnah





Gulf Rift....



Turkey, Qatar agree to launch trade between ports



Qatar-Gulf crisis: All the latest updates







1 hour ago
The Tortured Politics behind the Persian Gulf Crisis







The easiest way is passing through Iran," economy minister told Anadolu Agency






Arab quartet seeks UN sanctions against Qatar via Of India





Turkish Economy Minister Zeybekci says more reliable, economic and sustainable routes necessary in trade with Qatar