Tuesday, October 10, 2017

Economic News , Data & Views.....October 10 , 2017 ..... Quick Hits For Tuesday -1) Markets : Asia - Calendar For Wednesday , News & Data To Consider ; US- Stocks & Most Asset Classes Bounce A Bit Today , News From Spain Received As Being Not AS Bad As Feared ; Additional Items To Consider. 2) Spain - Catalonia Intrigue Continues - Quasi Declaration Of Independence By Puigdemont Paused to Allow "Talks" Central Gov't Has Already Ruled Out , Spain Central Gov't To Meet Wednesday To Ponder Next Steps. 3) US Politics - Swampland News , Puerto Rico Updates , Tax Reform Updates , North Korea. 4) UK-EU Talks - Key Statements To Consider Today. 5) Netherlands New Government Takes Conservative Positions Regarding Macron Type Reforms , New Tack Regarding Non Binding Referendum , Seeks Safe Havens For Refugees . 6) Odds & Ends - Global Items !


Markets.....


Asia.....



Calendar for Wednesday for Asia....




NZ data...





NZ election update....




US



One of those kind of days .....almost all boats floating upward...



US Indexes bounce on Puigdemont "Schrodinger Independence" statement....






Bitcoin....




1 hour ago
on a rollercoaster as Putin warns of ‘Serious Risks’ of cryptocurrencies but stopped short of backing a ban




PUTIN SAYS CRYPTO-CURRENCIES POSE RISKS OF TAX EVASION AND FINANCING OF TERRORISM




RUSSIA'S PUTIN SAYS CRYPTO-CURRENCIES POSE RISKS OF MONEY LAUNDERING



Russian Central Bank , long dubious of digital currencies , will block access to websites of such Exchanges.







Spain.....


( Much more at Twitter Timeline)


What negotiations ?





Replying to 
ABC: "Puigdemont blackmails government to win more time". With a picture of gutted separatists.





Replying to 
El País: "Independence in instalments that prolongs chaos in Catalonia".




BREAKING: PSOE spokesman on Puigdemont statement: "Basically, it's a disappointment […] we don't now exactly how to interpret what he said".





1 hour ago
Wednesday should be interesting.....






1 hour ago
CUP signs declaration of independence - without any suspension...




SPAIN'S DEPUTY PM SAYS GOVERNMENT WILL DECIDE ON NEXT STEPS OVER CATALONIA ON WEDNESDAY




SPAIN'S DEPUTY PM SAYS CARLES PUIGDEMONT NOT IN A POSITION TO IMPOSE A MEDIATION




BREAKING: Rajoy calls extraordinary cabinet meeting on Catalonia for 9 a.m. tomorrow morning.





Pro-independence parties sign a declaration that constitutes “the Catalan republic as an independent state” and activates the transition law




Puigdemont takes least worst outcome.Central Gov't won't dialogue w/him.Catalonians very disappointed.Not in jail.




Puigdemont takes least worst outcome.Central Gov't won't dialogue w/him.Catalonians very disappointed.Not in jail.




Not pleased...




Ball of confusion.....




Seems that the Spanish Gov considers Puidemont's speech as an "implicit" declaration of independence, and prepares an "answer"




Rajoy not pleased....




Spain's Cent Gov't reacts to Puigdemont speech-viewed as declaration of independence, article 155 coming into play.



Montero (Podemos) says Puigdemont's declaration "opens path to dialogue. Time to be responsible together".




LATEST: Radical-left youth group Arran tweets Puigdemont's speech is "inadmissible treason".




Catalonia in "Scrodinger Cat" type independence. Puigdemont "pauses" declaration pending dialogue attempt w/Gov't.






US Politics.....



Swampland....



US Pres Trump Tweets: News Reports Chief Of Staff Kelly Will Be Fired Are Totally Made Up Trump: Kelly Doing A Fantastic Job




Here we go...




Where are the shape bending mirrors hidden in the Congressional and White House Fun Houses ?




DJ EQUIFAX HACK DISCLOSED DRIVER'S LICENSE DATA FOR MORE THAN 10 MILLION AMERICANS -- SOURCES



SANDERS SAYS TRUMP WILL MAKE ANNOUNCEMENT ON DEAL BY FRIDAY: WH PRESS BRIEF




WHITE HOUSE WILLING TO WORK W/ CORKER ON TAXES, SANDERS SAYS: BBG



FOREIGN MINISTER SAYS WILL NOT PARTICIPATE IN OR PAY FOR ANY PROJECT FOR A PHYSICAL BARRIER BETWEEN USA AND MEXICO: RTRS




FOREIGN MINISTER SAYS WE WILL ONLY CONTINUE WITH IF IT IS GOOD FOR THE COUNTRY: RTRS




Harvey Weinstein now publicly accused by three women of sexual assault. The New Yorker expose follows expose of NYT.






Tax Reform.....




Ways/Means Chair Brady when asked for specific examples of "progress" they're making on tax reform. Doesn't offer any specifics.



Ways Means chair Brady on the state of play on state and local deductions: We will continue those discussions



Ways/Means Chair Brady on which aspects of tax reform may be permanent: It is premature to identify which ones might be permanent



May be hard for Hse/Senate to finish tax reform this yr. Only 30 legislative days left. Senate gone this wk. Hse gone next.



Let's see what's in the bill...




TRUMP TUESDAY: —ex-Sec of State Henry Kissinger —lunch w Sec of State Rex Tillerson and Defense Sec James Mattis —Pittsburgh Penguins.




99 problems. ...





More questions on the doggy dossier...collusion seems apparent , but not how some may think.







Puerto Rico....



Possible repayment for proposed liquidity loan for Puerto Rico




~~~~~





Gen. Buchanan: One of the biggest priorities is getting water to communities in remote areas



Public Affairs Sec said they will be delivering diesel to municipalities to be use for debris removal operations



. (Treasury) and DACO started training to auditor to evaluate posible violations to price caps



Official death toll increases to 43 deaths directly and indirectly related to Hurricane Maria



Corps of Engineer rep says within the next 7 days all contracts with companies working with the electric grid will be signed




Health: has 12 patients, The current capacity of this ship is 250 but full capacity is 1,000 patients




In next 7 days will grant $400 million in contracts for repair of Puerto Rico's power utility, Prepa/AEE




"Small business are the most affected by the storm. Obviously, they depend on electric service", Public Affairs Sec said




Corps of Engineer rep says preliminary budget is $400 million and maintains PR doesn't have enough materials to fix the grid




Western Solution has an economic incentive to install major generator before Oct/23 says Corps of Engineer rep




PR update: still no power for 85%






Still tough to get to remote areas in PR after . Only way into parts of today... by foot





North Korea....



10 OCT: 2x USAF B-1Bs callsign DARK01 & 02 flew a bilateral mission from Andersen AFB, Guam w/ JASDF & ROKAF fighters over the Sea of Japan
 





Replying to 
The two bombers took off from and were joined by four fighter jets.



Replying to 
The bombers also staged a simulated air-to-ground missile firing drill with two F-15K fighters over the East Sea.



Launching pre-emptive action against North Korea would be a "big mistake" says, Robert Gates Former United States Secretary of Defense



President Trump, Secretary of State Tillerson & Defense Secretary Mattis has had a meeting about North Korea.



Replying to 
Sen. Graham: As NKorea nears obtaining a nuclear ICBM that could hit the US, Pres. Trump will have to make "a hard decision" soon.



Pentagon: "We are confident in the security of our operations plans" after reports of North Korea hack, spokesman would not confirm




Brexit Updates...



A hard Brexit is "not an acceptable scenario," according to another German industry group




Asked why there will be no Brexit talks tomorrow, both EU and Britain release identikit statements. Commission says: 'Our teams are available 24/7'. DExEU replies: 'We're ready to negotiate at any time.' Both blaming each other. Clear as mud, then.



Replying to 
Tusk: if Brexit talks continue at slow pace and sufficient progress has not been reached we'll have to think about where we're heading




'S TUSK: EU NOT WORKING ON NO-DEAL SCENARIO FOR - BBG




1EU'S TUSK SAYS THAT EU NOT PREPARING FOR "NO DEAL" SCENARIO ON BREXIT



European Union's Chief Brexit Negotiator Michel Barnier has warned Britain that leaving the EU is "not a game"




UK has to be ready for the possibility..





Not quite sure how this would work or whether this is even real....





Netherlands....




New Dutch gov takes hardline on the euro: 1. no transfer union/eurobonds 2. no € budget 3. Debt restructuring

"Nederlandse ambtenaren worden voortaan arbeidsrechtelijk precies zo behandeld als gewone werknemers"
Translated from Dutch by 
"Dutch officials are now exactly treated as ordinary workers labour law"


New Dutch govt wants new formal mechanism to restructure eurozone debt after ESM request - hitting investors first






Replying to 
Dutch troublemakers on EU may not be able to hold non-binding referendums (a la Ukraine association deal). New government wants them gone











Odds & Ends !



California Wildfire....




California wildfire updates: • At least 15 people killed • 1,500 structures destroyed • 115,000 acres burned





UPDATE: Calif. fire officials: 17 large wildfires in past 36 hours continue to burn across the state; have burned over 115,000 acres.





Intense...







California fire fatalities: Sonoma County- 7 Napa County- 2 Mendocino County- 1 Yuba County- 1 Read more:




France.....



Have France’s ‘spoilt’ civil servants just got it too easy?





France sees public sector strikes related to Macron labor reforms.









Syria....












Kurdistan/Iraq.....



Barzani after meeting w/ EU & German Ambassadors to Iraq separately "We r ready to negotiate w/ Baghdad w/o preconditions in an open agenda"




Replying to 
Planned rehabilitation to the pipeline is in conjunction with as part of agreements to only deal with on oil exports.




- to increase exports of - pipeline to over 400,000 barrels per day, skirting the in exporting fro Kirkuk



Turkey........




Turkish PM on arrest of US Consulate staff member: TR is a state of law, did US ask for our permission when they arrested Halkbank executive




Erdoğan: U.S should dismiss its Amb. if he took the decision by himself. If this is not the case, no need to talk to US administration




President Recep Tayyip Erdogan says Turkish officials will boycott meetings with the US ambassador




BELGRADE- TURKISH PRESIDENT ERDOGAN SAYS U.S. RESPONSIBLE FOR VISA CRISIS





Tit for tat diplomacy...