Thursday, May 18, 2017

Economic News , Data & Views......May 18 , 2017....Quick Hits For Thursday -1) Markets : Asia - Economic Calendar For Friday , Key News And Market Moving Data As It Becomes Available ; US - Stocks Bounce Back After Yesterday Bruiser Of A Day , Gold Falls Back , US Treasury Yields Tick Up A Bit , Oil Continues To Push Higher ; Additional Financial News Of Note - Brazil Political Earthquake Regarding President Temer , Pound Flash Crash Today. 2) US Politics Round Up : Special Prosecutor / Congressional Investigations / Trump Scuttlebutt Items ; New FBI Director May Be Named This Week ; US-Turkey Items ( Syria , Controversial Erdogan Visit Due In Part To Thuggish Conduct Of His Bodyguards , McGurk Related Intimidation Effort By Turkey ) ; NAFTA Talks Set To Start ; NATO Withdrawal Threats Start Again Up Trump Begins First Foreign Trip ; Glass-Steagal Seems Dead. 3) Europe : Greece - Parliament Approves Multi-Bill ; France - Political Updates For Thursday ; UK Political Round Up - General Election & Brexit In Focus. 4) Odds & Ends - Libya & Syria In Focus









R.I.P......






Markets.....




Asia.....




Economic data due from Asia today


cut 's fixing by 174bp to 6.8786 per USD, BIGGEST cut since Feb 20, vs prev 6.8612





refrained from , making it drain net 20bn yuan as 20bn reverse repo matures today







Is the PBOC using stronger yuan fixings to prevent panic from spreading?




1 hour ago
New Zealand data: Net migration in April 5780 (prior 6130)





US officials note surprise record in New Zealand milk production



Foresea Life says 8.7bn (USD) in redemptions may leave Foresea unable to meet payouts-if it can't sell new products.







US....





US stocks have rebound day after tumble yesterday





Forexlive Americas FX news wrap: Dollar rebounds after yesterday's tumble.


US crude oil futures settle the day at $49.35.


Additional Items Of Note From Financial Sphere...






No answers and no good explanations for the 12-second, 100-pip drop in GBP





Brazil's President says he will prove his innocence, will not quit


Shorter version "I am not a crook."






Temer allegedly caught on tape arranging a bribe...







Another sharp leg lower for the Brazil ETF in Tokyo. -13% since yesterday morning. This is not over.







Brazil's IBOVESPA dropped 6,000 points Thursday.






Replying to 
The ETF is down ~15% intraday, triggering a certain, not massive, EU selloff so far. This is the downside of selling ETF's.








US Politics....





JUST IN: Trump meets with lawyers after special prosecutor announcement






That could be something.





Trump remarks on Comey, Russia crossing





In mtg w TV anchors, Trump said special counsel "hurts our country terribly because it shows we're a divided, mixed-up, not-unified country"









Ex-CIA chief Brennan will testify before House Intelligence Committee:





Joe Lieberman is indeed the No. 1 choice right now to lead the FBI; Trump will decide later today or tomorrow, I'm told.





WHITE HOUSE: TRUMP WILL DECIDE FBI DIRECTOR TODAY OR TOMORROW: BBG





Brett McGurk not going anywhere. Intimidation effort by Turkey results in epic fail.






"We're going to talk about Venezuela. What's happening in Venezuela is very very sad," Trump said in Oval Office today, per






"Colombia has been making great progress but we are working on knocking out the drugs because we have a big problem with drugs," Trump said.






U.S. STRIKES PRO-SYRIA REGIME MILITIA AFTER IT MOVED AGAINST U.S.-BACKED FORCES IN SYRIA - U.S. OFFICIAL TELLS REUTERS





Trump: "We have very important things to be doing right now, whether it's trade deals, whether it's military, whether it's stopping nuclear"







COMMERCE STARTS PROBE OF IMPORTS OF CIVIL AIRCRAFT FROM CANADA





Comey giving truthful , sworn testimony before the Senate Judiciary Committee on May 3rd , wasn't he ?




Burr looks like he jumped gun.Flynn's lawyers haven't complied so far , but they may still be w/i response period.






Trump threat to leave NATO hasn't gone away.








So much for Trump's Glass -Steagal type reform for US Financial Sphere. His Treasury Secretary isn't onboard.





Flynn via his counsel won't honor subpoena from Senate Intel Committee.Will he take same position re: FBI subpoenas?






Change is in the air..




LETTER THAT BEGINS NAFTA RENEGOTIATION PROCESS SENT TO CONGRESS -CNBC ON TWITTER, CITING LETTER OBTAINED FROM SOURCE





TURKISH PRESIDENT ERDOGAN SAYS TOLD UNITED STATES TURKEY CANNOT BE PART OF RAQQA OPERATION DUE TO YPG INVOLVEMENT





No evidence of collusion , despite alleged contacts...





Senator McCain calls for removal of Ambassador of Turkey , after Erdogan bodyguards brutalized protesters in DC.






A day after Erdogan meets Trump in DC - Turkey demands removal of Brett McGurk , who coordinates Coalition fighting ISIS in Syria & Iraq.







Europe.....




Greece.....






1 hour ago
Greek PM Tsipras Says Greece Has Done Its Part Following Vote On Reforms, Lenders Must Fulfill Their Commitments On Debt Relief







1 hour ago
-- parliament passes omnibus austerity bill with 153 votes. No rebel votes from gov't coalition parties.




Greek Parliament Approves Reforms Agreed With EU/IMF Lenders Ahead Of May 22 Eurogroup Meeting





Video from protest..







More from Athens..






Protest ongoing..







State of play in Greece right now...






Protests against austerity..






*DIJSSELBLOEM PROPOSES GREEK PRIMARY SURPLUS OF 3.5% FOR 5 YRS






Pensioners protest against cuts in Athens






Deal on Greece is touch and go








France....





1 hour ago
France under Macron signals shift in Libya policy, toward Haftar






Meanwhile, on the other side of the Channel, Macron now forecast to win a majority in the French National Assembly








France's Le Pen to run for legislative elections





Secret plans to 'protect' France in the event of Le Pen victory emerge





Putin holds first phone call with French president Macron: Kremlin






UK....





Moody’s: UK Saw Slowing Growth In Q1





Conservative Manifesto available to review...






Strong retail sales drives pound strength today..





UK PM May: To Balance Budget By Mid-Decade -To Continue Fiscal Rules Announced By Chancellor Hammond In Autumn Statement





UK PM May: Final Brexit Deal Is Subject To Parliament Vote -Promises To Secure Entitlement Of EU Citizens In UK





UK PM MAY PLEDGES TO ENTER NEGOTIATIONS WITH EU IN SPIRIT OF SINCERE COOPERATION -ELECTION POLICY DOCUMENT





Odds & Ends....




Libya...





PC foreign ministry in diplomatic cull: 12 ambassadors removed, other diplomats dismissed -














Replying to 
Last official update on casualties at Brak Shati : 60 LNA & 15 civilians killed. But figures have been climbing. Unofficially over 100









Replying to 
Major damage @ 's Brak Shati airbase. LNA reportedly controls what's left. GNA-allied forces (AQ/LIFG from Jufra) attacked & retreated







1 hour ago
GNA-allied forces (AQ/LIFG from Jufra) attacked Brak Shati airbase in south today. 60 LNA + 15 civilians dead (some w/ throats slit)








Misratans and BDB takes Brak Al-Shatti airbase in shock attack; heavy LNA casualties ... -






Coast guard rescues more than 500 migrants, exchange gunfire with traffickers.













Ceasefire collapsed in Fezzan today. 3rd force from attacked LNA units in Brak al-Shat airbase. Ongoing fighting.






Major gathering of key Libyan figures in new Geneva dialogue move -










Syria...






As US officials are explaining it, today's US strikes on pro-regime forces in southern Syria were force protection for US SF based there






U.S. STRIKES PRO-SYRIA REGIME MILITIA AFTER IT MOVED AGAINST U.S.-BACKED FORCES IN SYRIA - U.S. OFFICIAL TELLS REUTERS





Replying to  
: In first tangible product of talks, UN sits with govt + opposition for 'technical' meetings on 'constitutional issues' - via