Wednesday, September 6, 2017

Economic News , Data & Views....September 6 , 2017.....Quick Hits For Wednesday -1) Markets : Asia - Economic Calendar For Thursday , Market Moving Data , North Korea Updates For Today - US Seeks Oil Embargo & Asset Freeze On North Korea Leader Kim Jong-un , US & SK Deploy Assets Into Place ; US - Dead Cat Bounce Back Day For US Stock Indexes , Gold and Treasury Yields Fallback , Oil Rises On Ongoing North Korea Tensions + Hurricanes Anxiety. 2) Hurricane Irma , Hurricane Jose & Hurricane Katia Updates For Wednesday. 3) US Politics - Congress & POTUS Reach Deal On Harvey Aid , 3 Month Debt Limit Increase & Continuing Resolution Through 12/15 , Gerald Cohn Unlikely To Be Named Fed Chief - Countdown For When He Leaves Underway , Additional Items Of Note. 4) Spain - Catalan Government Calls Referendum On Secession For October 1 , All Heck Is About to Break Loose In Spain. 5) Odds & Ends - News Of Note From Europe , As Well As MENA !


Markets.....



Asia....



Thursday Economic Calendar For Asia....




Offshore Yuan breaks 6.52 per USD; onshore Yuan breaks 6.51, after its fixing higher for 9th day in a row, longest gaining streak since 2011
 





1 hour ago
Mainland commodities are plunging in the final 20 minutes (again...)!!




Driven by growing infrastructure investment & recovery in exports; domestic sales up 106% y/y to 7952 unit, overseas sales up 49.6% to 757






Budget requests by central government ministries and agencies for fiscal 2018 total 100.96 trillion yen > 100 trillion yen 4 year in a row.





Japanese Official Reserve Assets (USD) Aug: 1268.0 (prev 1260.0B)




1 hour ago
Australia AiG Perf of Construction Index Aug: 55.3 (prev 60.5)




BoJ: Reserve Balance Stands At JPY 321.2 Tln (prev JPY 320.9 Tln) BoJ: Current Account Balance Stands At JPY 361.6 Tln (prev JPY 361.6 Tln)




UN considering oil sales ban to North Korea, overseas laborer and textile freeze




US , SK & Japan really pushing hard for cutting off NK oil supplies....







US Treasury Secretary Mnuchin threatens Executive Order against all trading with North Korea - if UNSC doesn't do additional sanctions.





's PM says may launch missile on September 9th.






MOODY'S: KOREA POTENTIAL FOR CONFLICT IS `LOW,' WAS `VERY LOW' Also, we rate that CDO^2 AAA





Moody's On Korea: In The Case Of A Short, Contained Military Conflict, The Credit Implications Would Be Limited - RTRS




FX: USD/JPY: Drops To 108.89 On Those Comments From S.Korea's PM



NOT MUCH TIME LEFT UNTIL NKOREA FULLY NUCLEAR-ARMED:S.KOREA LEE




| heads to new homeport; Wasp Strike Group will form ’s forward-deployed amphibious force




In the next few hours more THADD will be set up in South Korea.




BREAKING





US intelligence agents are now in SK. Their mission includes a review & possibly an update of evacuation plans for over 200,000 US citzeans




US seeks oil embargo on North Korea, according to a draft UN resolution





At some point ( if NK does possess this number of nukes ) , bellicose threats , will be replaced with pragmatism.






US....



Dead cat bounce day for US Stocks....





Dead bounce day for US Stocks sees gold and Treasuries pullback today...




Oil inventory data but series of storms , especially Irma , trumps this data...




WTI Futures Settle At $49.16/Bbl, Up $0.50




Hurricane Updates....

( Much more at Twitter T.L..)



, and -- 3 hurricanes simultaneously in the Atlantic. Extraordinarily.




Irma.....




watches could be issued for portions of the Florida Keys and the Florida peninsula on Thursday.





While looks to be going through another ERC, the storm might not weaken much at all. Pressures are down from earlier (~909mb)





Looks like Puerto Rico will duck the larger bullet...Irma passing just north , no direct hit....




Secondary eyeball brushes past Puerto Rico......








Keep Puerto Rico in your thoughts...









1 hour ago
Aerial views of after the island took a direct hit from category five . (Credits: ABS Television/Radio)






Unbelievable. has snapped all the cell towers on . That's reinforced steel - photo: ABS






Hurricane Advisory 31: Eye of Category 5 Hurricane Irma Moving Away From The Northernmost Virgin Islands.





Catastrophic damage in as continues westward.





was hit head on by . Thousands of casualties now feared. (Original thread via )






Unprecedented storm surge in . Island took a direct hit.






Catastrophic damage in as continues westward.






Taken moments after the eye went over Road Town Tortola British Virgin Islands.....Paraquita Bay





Keep in mind , as things,are developing, not just Florida in cross hairs , but NC/SC in sights of Irma as well.







Replying to 
JUST IN: South Carolina governor declares state of emergency to prepare for Hurricane Irma





As steadily moves WNW, storm will encounter some of warmest ocean water in tropics on Earth especially around S. Florida




300,000 without electricity in Puerto Rico now




At some point ( if NK does possess this number of nukes ) , bellicose threats , will be replaced with pragmatism.







ICYMI -- braces for second supply hit as approaches | Article [AMP] | Reuters

Gives an idea of Hurricane Irma impacts...





Katia...



Hurricane Advisory 5: Hurricane Katia Forms in the Southwestern Gulf of Mexico.





has become the sixth hurricane of the season; Hurricane watches issued:





Jose....



Hurricane Advisory 6: Quickly Strengthening Jose Becomes a Hurricane.




And, let’s upgrade to a hurricane as well. 3 hurricanes at once in the Atlantic basin. We are in overdrive now.






US Politics....




Not surprised to read this...




Schumer on how Dems prevailed on Trump on debt limit: I think he listened to our arguments..To his credit, he went with the better argument




Trump frustrated with GOP leaders , seems determined to work with Democrats to get things done.





*TRUMP, CONGRESS AGREE ON HARVEY AID, DEBT LIMIT, CR THRU DEC.15 - BBG




HOUSE AND SENATE DEMOCRATIC LEADERS SAY "BOTH SIDES HAVE EVERY INTENTION OF AVOIDING DEFAULT IN DECEMBER"









Fischer's resignation increases the vacancies on the Fed Board from 3 to 4



U.S. DOLLAR INDEX HITS EIGHT-DAY LOW OF 92.005 AFTER FED VICE CHAIR STANLEY FISCHER ANNOUNCES RESIGNATION





Iran Deal certification in focus - buck to be passed to Congress ?




House Intel Committee subpoenas FBI, Justice Dept over controversial Trump-Russia dossier:





Spain...

( More at Twitter T.L.)



El Diario reports Civil Guard watching printing company near Tarragona (Catalonia) in case it is printing referendum materials.




ABC: "Coup d'etat in Catalan parliament".







El País: "Institutional crisis in Catalonia. Separatists impose their referendum on Catalan parliment".





El Periódico: "Disobedience. No going back for Catalan government and parliament".










Separatist referendum bill has just been published in the official Catalan gazette, signed by Puigdemont. (pdf)





Odds & Ends...




has launched multiple airstrikes on a regime-run scientific research center in , .





: Israel Airstrikes now on Regime Technology (chemical) building in





Replying to 
More photos circulating by followers of alleged airstrikes on Assad technology in Hama






Germany, Forsa poll: CDU/CSU-EPP: 38% SPD-S&D: 23% ↓ LINKE-LEFT: 9% AfD-ENF: 9% FDP-ALDE: 8% GRÜNE-G/EFA: 8% ↑



No one knows where the Tiger came from , at this time...







Haley is hell bent to walk away from JCPOA - and yet , what is the path to replace the existing Deal ?




Polish Foreign Minister message to Germany is basically give me all of your euros...




EU squaring off against Poland , Hungary and Czech Republic on taking refugees...





'Roaches': SEC Chief Speaks Out Against Malicious ICOs




On track: Greece must complete 95 prior actions by end-2017 out of a total of 113: Official





Expected counterattack repelled..




FRANCE WANTS EU WATCHDOG ESMA, EUROPEAN COMMISSION TO HAVE VETO RIGHTS OVER EURO CLEARING DECISIONS TAKEN IN BRITAIN AFTER BREXIT - SOURCES




UN probe releases report regarding Khan Sheikhoun chemical attack, concludes it was carried out by Syrian Air Force






Macron still sinking in the polls - 10 points in one month.