Markets....
US......
New York wrap for Tuesday...
DOW JONES UNOFFICIALLY CLOSES DOWN 7.16 POINTS, OR 0.03 PERCENT, AT 22,288.93
S&P 500 UNOFFICIALLY CLOSES UP 0.50 POINTS, OR 0.02 PERCENT, AT 2,497.16
NASDAQ UNOFFICIALLY CLOSES UP 10.57 POINTS, OR 0.17 PERCENT, AT 6,381.17
Crude -0.761MM,
Gasoline +1.470MM
Distillate -4.527MM
Cushing +1.064MM
Here is today's speech from Fed Chair Yellen...
Asia.....
Calendar for Wednesday , China data in focus...
South Korea Deputy FinMin: Top Priority Is Managing North Korea-Related Risks For Financial Markets – RTRS
Australia PM Turnbull: Gas Companies Agree To Domestic Supply Deal, Preventing Govt Intervention In Export Market – RTRS
Mainland Aug Corp Profit +24%, highest in 4 years!
Oil Refinery profit +103.4%, Iron&Steel smelter +131.1%...
Chinese industrial profits rose the most in 4 years in August. It seems we're low-balling the market impact of this story
Chinese Industrial Profits (Y/Y) Aug: 24.0% (prev 16.5%)
PBoC Fixes USDCNY Reference Rate At 6.6192 (prev fix 6.6076 prev close 6.6400)
PBoC To Skip Open Market Ops Today
New Zealand Westpac Employee Confidence Q3: 113.8 (prev 113.4)
US Politics.....
Swampland....
IRS shares info with Mueller for Trump-Russia probe: report http://hill.cm/7hAUZaX
Trump admin refuses to lift shipping restrictions to help get supplies to Puerto Rico http://hill.cm/8uZSsXy
Freedom Caucus Chair Meadows hopes his mbrs will meet after tax details announced. Says Freedom Caucus may take position on tax reform
*BOB CORKER WILL NOT SEEK REELECTION TO U.S. SENATE
If Senate GOP couldn't get 50 votes , hard pressed to believe they can get 60 votes later. No way Dems cross over.
Senate Judiciary Committee to hold hearing on DACA next week http://hill.cm/3lwcjDs
If tax reform flops , where does McConnell go from there ?
Not a shocker - GOP already had lost Cruz , McCain , Paul & Collins...more were leaning no. Back to drawing board.
Health care protesters now conducting “die in” and blocking tunnel from Russell to the Capitol
Silly Dem stunts-one reason Trump continues to make outrageous statements & tweets. They fall for stunts everytime.
Roger Stone tells reporters Paul Manafort's attorneys told his attorneys that Manafort expects to be indicted soon but doesn't know for what
Roger Stone says he told House Intel that there was no collusion between Trump campaign and Russia.
Grassley: Why does the FBI want to keep Congress "in the dark" on Comey http://hill.cm/HToblNS
Hurricane Maria/Irma Aftermath...
JUST IN: USNS Comfort hospital ship is being dispatched to Puerto Rico disaster, FEMA Admin. Long says at the White House.
President Trump authorizes Puerto Rico to be exempt from 25% local match for FEMA funds #muniland
Trump head to Puerto Rico next week and discussion of hard road ahead.
It gives an idea of the level of reconstruction that has to happen.
Gov. Rossello: Briefed Pres. Trump on Puerto Rico crisis, and "thanked him for his leadership, quick response and commitment to our people."
This ....
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North Korea.....
Trump; "North Korea is a situation that should have been handled 25 years ago... many administrations left me a mess.But I'll fix that mess"
Have to be real careful with statements-especially now that it's clear Trump befuddles NK-to the point of outreach.
US President Trump: US Is Totally Prepared For Military Option On North Korea, Which Will Be Devastating For Pyongyang - RTRS
US President Trump: US Is Totally Prepared For Military Option On North Korea, Which Will Be Devastating For Pyongyang - RTRS
Nukes and missile development "threaten the entire world with unthinkable loss of life," said President Trump
US Treasury today froze assets in US jurisdiction of 8 North Korean banks and 26 individuals with ties to NK's financial networks.
List of 8 banks sanctioned by US today.
Hmmm , looks like a US Carrier Group set to perform maneuvers off coast of North Korea..
Idea of a young , bright North Korea Official searching the world for the meaning of Trump tweets-sounds like Kafka.
Spain.....
Figuring out the way forward , it would appear.
Spanish PM Rajoy Said To Cancel EU Summit Trip On Catalan Crisis – El Mundo
Interesting.......
Doesn't seem like Carles Puigdemont doubts the Catalan Referendum is going forward.
Catalan update........1
Catalan update.......2
Catalan update.......3
Catalan update.......4
Catalan update.....5
Catalan govt starts sending notices to people appointed as polling supervisors on October 1 in a further challenge to Spain’s opposition Kurdistan....
Barzani states "yes" received 92% of vote in Independence Referendum.
#BREAKING: Barzani: #Baghdad should respect the decision of the Kurdish people and not threaten and intimidate http://ara.tv/bzyyr
#BREAKING: #Barzani calls on #Iraq govt to engage in ‘serious dialogue’ after #KurdishReferendum on independence http://ara.tv/bzyyr
#Iraq PM: we will not surrender the unity of Iraq because this is a patriotic & constitutional duty. (1)
#Iraq PM: The #kurdistanRefendum is illegal & unconstitutional. Iraqi govt will impose its sovereignty according to law & constitution. (2)
#Iraq PM: As of Friday, no flights to Arbil & Suli airports until they are returned to full control of federal govt. (5)
#Iraq PM: all border points must be returned to full control of federal govt. (6)
Here we go between Iraq,Federal Gov't and Kurdistan !
UK-EU Talks.....
Full text -Tusk remarks today.
LONDON - EUROPEAN COUNCIL PRESIDENT TUSK SAYS CHANGE OF UK TONE ON BREXIT IS GOOD NEWS
Donald Tusk: If you ask me, I would say there's not sufficient progress yet #Brexit
Donald Tusk: We will discuss our future relations once there is sufficient progress #Brexit
EU’s Tusk: Brexit Is About ‘Damage Control’, Says His Opinion Remains Unchanged - RTRS
France....
One tax to rule them all: How Macron sees the future of the EU http://dlvr.it/Pqd3Vs
FRANCE'S MACRON SAYS WHY NOT GIVE OURSELVES AIM TO FULLY INTEGRATE FRENCH AND GERMAN MARKETS BY 2024 AND HARMONISE RESPECTIVE LAWS
Macron: We need a stronger budget at the centre of Europe. We must consider raising a tax for a common EU budget, companies could be taxed.'
Macron’s 2 concrete proposals. First one is A EU-wide corporate tax, starting with convergence with Germany and other countries.
Macron wants to link converging corporate taxes otherwise no EU funds for you. Watch out Ireland and others ….
France's Macron: Wants A Corporate Tax Band, Would Be A Condition To Get Access To EU Cohesion Funds
Corporate tax receipts should be pooled, once harmonised, into a common euro zone budget - Macron
*MACRON CALLS FOR COMMON EUROPEAN DEFENSE BUDGET
*MACRON WANTS TO REVIVE EU FINANCIAL TRANSACTIONS TAX
*MACRON CALLS FOR EUROPEAN PROGRAM FOR CLEAN VEHICLES
*MACRON SAYS MUTUALIZING PAST DEBT ISN'T WHAT EUROZONE NEEDS
*MACRON SAYS EURO ZONE NEEDS COMMON BUDGET FOR INVESTMENT
Odds & Ends....
Freezing or suspension of EU talks will be regarded as breaking negotiations: Minister http://www.hurriyetdailynews.com/freezing-or-suspension-of-eu-talks-will-be-regarded-as-breaking-negotiations-celik-.aspx?pageID=238&nID=118422&NewsCatID=510 …
Poland wants to have a discussion with Germany regarding reparations & you know what Germany is going to say. Nein.
#RuAF Tu-95MS strategic bombers have carried out cruise missiles strikes against ISIS and JN facilities in Deir ez-Zor and Idlib provinces
Signs of corruption emerge as Amnesty accuses Ukraine of illicit arms sales in South Sudan| KyivPost https://buff.ly/2fOaC3E
Interesting....
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