Thursday, September 7, 2017

Economic News , Data & Views....September 7 , 2017......Quick Hits For Thursday -1) Markets : Asia - Economic Calendar , Key Data From Australia & China Out Later ; US - S&P Ends Down -0.02% at 2465.10. Nasdaq Ends Up 0.07% at 6397.867. Dow Ends Down -0.10% at 21784. Playing For Time Type Of Day , Gold & US Treasuries Shine Today , Additional Items Of Note. ; Europe - Flight From Riskier Economies Reflected In Europe Stocks Today , Draghi & ECB Items Of Note , Macron- Tsipras Meeting Highlights , Additional Items Of Note. 2) Hurricanes Irma & Jose Updates - Recent Advisories For Both Cat 5 Irma & Cat 3 Jose. Irma Seems Set On South Florida Landfall , JoseTrack Still Uncertain But Interesting Projections Being Considered. Additional Details For Both Storms. 3) US Political Round Up - Non Hurricane Related Items For Today - Trump Gets Polling Bump On Harvey Response , Qatar Rift Updates , North Korea Items , Replace & Repeal Raises Head Again In Congress , Donald Trump Jr Testifies Behind Closed Door For Senate Judiciary Committee , Gary Cohn Allegedly Not Leaving Says White House , Senate Passes Harvey Aid/ Interim Spending / Debt Ceiling Raise Pacake , Additional Items Of Note. 4) Spain - Separatists MPS In Catalan Parliament , After Two Long Days , Pass Session Bill & Set Referendum For October 2 , 2017 - Now Let's See What Happens Next. 5) UK- EU Exit Talks Updates , Items To Consider For Thursday.



Markets ........



Asia.....



Friday's calendar for Asia !



New Zealand Q2 Manufacturing Activity Vol 1.0pct q/q (prev rev -0.2pct) NZ Manufacturing Activity Sales 3.9pct q/q (prev rev 3.1pct)



Preview of Australian data due out later today...




China Trade data also out later today...




Mattis: "We'll deal with it," when asked if US will shoot down a North Korea missile if fired at United States or any allies this weekend




Thaad's a wrap: The controversial American anti-missile battery is now fully deployed in South Korea



POTUS Trump: Military action is an option (in regards to North Korea)...And something that could happen. Our (USA) military is strong




US......




S&P ends down -0.02% at 2465.10. Nasdaq ends up 0.07% at 6397.867. Dow ends down -0.10% at 21784. Playing for time type of day.



Gold up $14 to $1348 , WTI Crude down 5-cents to $49.11 , US 10-year yields down 6 bps to 2.04%....



Airline shares are broadly lower as investors brace for the flight cancellations as a result of Hurricane Irma



WTI Futures Settle At $49.09/Bbl, Down $0.07



U.S. DOLLAR EXTENDS LOSSES VS YEN, HITS LOWEST SINCE MID-NOVEMBER 2016 OF 108.07 YEN



Europe....



UK / Dax / CAC End Higher , Peripheral States Italy / Portugal / Spain end lower....





FRANCE'S CAC 40 UP 0.3 PCT, GERMANY'S DAX UP 0.7 PCT



MACRON SAYS FRANCE SUPPORTS LIGHTENING 'S DEBT LOAD - BBG



*MACRON SAYS HE HOPES IMF WON'T MAKE NEW DEMANDS OF - BBG



GREEK PM SAYS EURORGOUP DECISION ON DEBT RELIEF WAS VERY POSITIVE, FRANCE HELPED FOR THIS RESULT



GREEK PM SAYS WE ARE READY AND DETERMINED TO EXIT BAILOUT IN AUGUST 2018



GREEK PM SAYS AGREED WITH FRANCE'S MACRON TO COOPERATE CLOSELY ON INVESTMENT



| *MERKEL, XI AGREED ON NEED FOR FURTHER SANCTIONS ON - BBG



revised ⬇ its core inflation forecasts for 2018 and 2019 (p. 10) -



DRAGHI SAYS BULK OF QE DECISIONS WILL PROBABLY BE TAKEN IN OCT. - BBG



DRAGHI SAYS HASN'T DISCUSSED SCARCITY ISSUE - BBG



DRAGHI SAYS DIDN'T DISCUSS WIDENING ASSET CLASSES IN QE - BBG



Tropical Atlantic Weather Watch...

( Most Recent Updates & POVs Below , More from Earlier Today At Twitter T.L )


Irma...



Key Messages on Hurricane as of 5:00 PM EDT:





Wow...







Still have to see if there are last minutes wobbles - but not minimizing dire straits presented.







Sort of a nightmare scenario here -- if Irma tracks up the center of Florida, both coasts could get Cat 3+ conditions simultaneously.







A ten foot surge at Miami or Ft Lauderdale is "game over dude" , that would exceed by feet their seawalls...






Grim tidings for Florida and Miami in particular ...1






US Virgin Island hospital suffers "catastrophic failure". Major damage in USVI.







Sunday morning landfall - Miami-Dade County ( as per ECMWF) , looks like it will be either a strong Cat 4 or even Cat 5 at landfall.







Puerto Rico suffers massive powers losses from Irma - 900,000 people without power....





Jose.....




Crazy. The Caribbean islands battered by (Antigua, Barbuda, Virgin Islands) will be hit by Major Hurricane Saturday





Hurricane Advisory 10: Jose Becomes 3rd Major Hurricane of the 2017 Atlantic Season.




JUST IN: With 120 mph wind, Hurricane strengthens to Cat. 3 hurricane behind Hurricane in the Atlantic.




JUST IN: Hurricane Jose becomes Category 2 storm with 105 mph winds





Folks in Barbuda must be saying " Why us Lord ? "







The reliable ECMWF weather model has a ** utterly shocking ** track forecast for hurricane (red line). Other models disagree






US Politics....

( More US Politics At Twitter T.L.)




Trump offers to mediate talks on Qatar crisis





US Appeals Court Rules Against President Donald Trump Over Scope Of Travel Ban -- Court Ruling






Graham calls on Comey to testify on Clinton emails: "I smell a rat"





AP: Sen. Cassidy (R-LA) and Sen. Graham (R-SC) will introduce Obamacare repeal bill on Monday with "full White House support"




Here we go...





UNITED STATES IS CONCERNED THAT NORTH KOREA MAY NOT BE ABLE TO BE DETERRED - TRUMP ADMINISTRATION OFFICIAL SAYS: RTRS









Fully denied , so says the White House. You know what that means..





The Senate approved combined interim spending bill/debt ceiling suspension/Harvey aid package, 80-17. All noes came from GOPers




Admin wants money for hurricanes soon because of the Olympic burn rate. Also that facilitates near immediate need to raise debt ceiling




Senate pkg suspends debt limit & funds gov't thru Dec 8. Also infuses $15.25b for hurricane relief. Next stop the House.




Sources: Trump Jr. says he did not recall White House involvement in response to his meeting with a Russian lawyer




How long before GOP members in Congress rebel versus Trump ? Past couple of days have been surprising...





Trump admin strategizing how to react to a North Korean missile launch, likely Saturday NK time, I'm told. It's anniversary of NK founding.




Per Don Jr began Judiciary interview with a 10 minute statement




Trump Jr. interview is being conducted in a conference room in the Capitol basement, but not in the Senate SCIF.




US Freedom Caucus’ Meadows: Freedom Caucus To Release Its Own Tax Plan -Seeks Action On Debt Limit In September, With Reforms




07-Sep-2017 13:43:55 - U.S. HOUSE SPEAKER RYAN SAYS PLANS TO UNVEIL TAX PLAN THIS FALL, GET IT DONE THIS YEAR -NYT INTERVIEW





Spain...



LATEST: Separatist MPs in Catalan parliament pass secession bill. Opposition groups walked out. - 71 in favour - 10 against - 0 abstentions




Coscubiela (Podemos coalition) says Catalan separatists have used up all of their political credibility in "48 hours of darkness".




Iceta (Catalan Socialist Party): "You know the referendum you have promised cannot happen and that there will be no republic on October 2".





Catalina Parliament dismisses Constitution Court suspension.....





LATEST: Unsurprisingly, Constitutional Court admits government challenge to Catalan referendum law, orders it suspended.




LATEST: After several hours, Catalan separatists vote to alter order of day and debate and vote on secession bill.





Opposition groups now have two hours until 11 p.m. to table amendments to secession bill. Two hours. 120 minutes. After all day in chamber.




Spain , in particular Catalonia , has been chock full of action packed moments lately....




Replying to 
LATEST: Spanish prosecutor announces criminal charges against Catalan government, parliament Speaker for referendum bill and process.









UK- EU ...



EU Parliament Expects No Sufficient Progress In Brexit By Oct




EU Parliament President Releases Statement On Brexit


Irish Fin Min: Early Repayment Of UK Bilateral Bailout Loan Not In Irish Interest Currently Given Costs Involved - RTRS





Absolutely.




EU’s Barnier: EU Budget Commitments Not Moral, But Legal




Brexit cheese wars and a summary of EU's leaked position papers in today's free email briefing. Sign up 📩




UK Brexit Minister Davis: Want Transition Arrangements To Stay Close To EU Membership - BBC Parliament