Thursday, September 28, 2017

Economic News , Data & Views.....September 28 , 2017....Quick Hits For Thursday-1) Markets : US - S&P Hits Latest Record Closing High , Russell Small Caps / Transports / Banks All Have Been On A Tear Past Several Weeks , VIX Decimation Continues ; Asia- Calendar For Friday , Market Moving Data & News. 2) US Politics - Most Recent Political Highlights For Tuesday Including - Puerto Rico Restoration , Legislation ( HC / TaxReform ) , Ambassadors Confirmed , Russia Probe Related Items , HHS Secretary Price To Reimburse Private Jet Travel , NFL Protest Items & Much More. 3) Catalonia - News For Thursday , 72 Hours Before Sunday's Historic Vote. 4) UK-EU Talks - David Davis Gives State Of Play. 5) Odds & Ends - Global News Of Note , Emphasis On Kurdistan Referendum Aftermath & State Of Play Regionally !



S&P today's Cinderella - latest record close. Nasdaq and DOW just S&P's step sisters today....

NY wrap...


Over the past 3 weeks, we've seen a mini-repeat of the post-election moves. Strength: Banks/Small Caps/Transports Weakness: Treasuries/Gold

1 hour ago
Bank stocks up for the 10th day in a row, 14 out of last 15 days. From -8% on the yr a month ago to +4% today.

Russell 2000 Small Cap Index closes at its most overbought level since 2003 (based on 14-period RSI).

Volatility Index: 7th lowest close in history: 9.55. Lowest close ever in the month of September.

Absent a crash tomorrow, this will go down as the least volatile September in history.


Calendar for Friday For Asia....

Australian Private Sector Credit (M/M) Aug: 0.5% (exp 0.5%; prev 0.5%) -Private Sector Credit (Y/Y) Aug: 5.5% (exp 5.5%; prev 5.3%)

PBoC Fixes USDCNY Reference Rate At 6.6369 (prev fix 6.6285 prev close 6.6570)

1 hour ago
South Korea Finance Ministry: Will Swiftly Act To Stabilize Markets If Needed According To Contingency Plans – RTRS

Summary of Opinions at the Monetary Policy Meeting on September 20 and 21, 2017

Japanese Household Spending (M/M) Aug: 0.2% (prev -1.9%) -Household Spending (Y/Y) Aug: 0.6% (exp 0.9%; prev -0.2%)

Japanese Tokyo CPI (Y/Y) Sep: 0.5% (exp 0.6%; prev 0.5%) -Tokyo CPI Ex-Fresh Food (Y/Y) Sep: 0.5% (exp 0.5%; prev 0.4%)

Japanese Natl CPI (Y/Y) Aug: 0.7% (exp 0.6%; prev 0.4%) -Natl CPI Ex-Fresh Food (Y/Y) Aug: 0.7% (exp 0.7%; prev 0.5%)

South Korean Industrial Production (Y/Y) Aug: 2.7% (exp 1.3%; R prev -0.2%) - Industrial Prod SA (M/M) Aug: 0.4% (exp 0.5%; R prev 1.7%)

China taking a harder line finally. ..

, a RC-135S Cobra Ball, has now been airborne for nearly four hours over the ...

U.S. State Dept.: "We are not seeking regime change or collapse."

U.S. State Dept.: "The Administration recognizes N. Korea…as the paramount security threat facing the U.S. today."

Replying to 
South Korean Air Force Early Warning & Control platform plane is now airborne.

Replying to 
Cobra Ball is airborne again at 33,000 feet.

Replying to 
Cobra Ball airborne is a ballistic missile detection platform and part of the US Air Force.

US Politics.....

( Recent Items , Much more at Twitter TL.)

JUST IN: Trump interior chief took thousands of dollars in private flights at taxpayer expense: report

Sens Graham/Cassidy meet w/Trump on health care. Say they are "committed to holding hrngs" on health care in coming months

1 hour ago
US Senate confirmed new Ambassadors: Jon M. Huntsman, Jr. to Russia, John Bass to Afghanistan, Justin Hicks Siberell to Bahrain

1 hour ago
Mothers of NFL players to Trump: Stop the divisive language and start a productive dialogue

Here we go....

NEW: Senior HHS source says that HHS secretary Tom Price will specifically pay $51,887.31 over useage of a private plane.


If Cohn doesn't understand mortgage deduction is important to home ownership & real estate sales-he should be fired.

One problem-Baghdad on the record as saying no it will not engage in discussions with Kurdistan as a result of Ref.

Replying to 
JUST IN: Twitter's presentation to Senate Intel Cmte. was "inadequate on almost every level" and “deeply disappointing," Sen. Warner says.

Royal Caribbean cancels cruise, sending ship to pick up evacuees in Puerto Rico

Replying to 
White House: Army Corps of Engineers is in charge of restoring Puerto Rico's decimated power grid.

There was enough capacity to bring supplies to Puerto Rico by ship but the problem has been distributing on ground, Tom Bossert told press.

Congress will likely provide $7 billion to Puerto Rico in initial funding round. Likely more once damage assessments complete

Nat'l Security Adviser indicates WH will ask Congress for another emergency supplemental spending bill for hurricanes in next couple wks

Top Dem on Senate Judiciary Committee: Senators have a deal "in principle" for Trump Jr. to testify

To relieve the long jam of 1000s of containers sitting at the Port of San Juan Puerto Rico governor **finally eases local regs

This !

Too much at stake to walk away from JCPOA without a plan. I expect Trump will certify by October 15th.

Were any state voting systems actually hacked by alleged Russians ? First Wisconsin and now California refute DHS.



GOP senator: Russian trolls are using social media to take advantage of Trump-NFL feud

Seems more people are coming around to the idea alleged russian accounts sought to divide rather than push Trump.


Catalonia updates......1

Catalonia update.....2

Catalonia updates.....3

Catalonia updates......4

Catalonia update....5

Catalonia update...6

Catalonia update....7

Keep an eye on this , could be an explosive situation...

UK-EU Talks...

We shall see...

Dragging along..

Exit talks dragging along..

David Davis: no doubting that this was a vital round of negotiations...I'm clear we have made considerable progress

Replying to 
Davis: on citizens rights we will publish an updated table later today that shows many areas of agreements

Replying to 
Davis: UK committed to incorporating final withdrawal agreement fully into UK law

Replying to 
Davis: PM made clear UK will honour committments it made, not yet at stage of specifying exactly what these are

Odds & Ends...


Mattis and Sec Gen Stoltenberg just landed in Qatar. Mattis is meeting Qatari def min and the Emir


Ammunition depot fire continues to rage on....many tons of shells there , so exceedingly dangerous.


Big takeaways-persistent budget deficits have caused KSA to burn through 230 bn in reserves since 2014. 490 bn left.


Merkel pats Macron on head , says she'll get back to him...

Germany Withdraws Military from Turkey’s Incirlik Airbase

Food contamination threat in Germany , supermarket shoppers should be vigilant to signs of tampering.


Putin lands in Ankara for working dinner with Erdogan. Syria, Kurds, gas pipeline on the menu.

All bark so far..

" The Empires Strike Back" ? Baghdad , Iran and Turkey working toward coordinated , concrete action after Ref.

KRG seeks talks with Turkey after referendum rift...

Sadly , Al Nahar stoops to racial and sexual stereotypes after Kurdistan decided to ignore Baghdad threats and hold its referendum.

: Turkish President says Kurdistan Region’s referendum will end in failure, adds ethnic clashes won’t have benefit.

: Qatar Airways cancels all scheduled flights to Region following request from the Iraqi Aviation Authority.

travel agencies protest Iraq flight ban, 7,000 jobs at stake

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