Markets & Market Moving News....
Another day around the way..
Just another day around the way...
DOW JONES UNOFFICIALLY CLOSES DOWN 197.54 POINTS, OR 1.08 PERCENT, AT 18,131.50
NASDAQ UNOFFICIALLY CLOSES DOWN 81.57 POINTS, OR 1.53 PERCENT, AT 5,247.10
S&P 500 UNOFFICIALLY CLOSES DOWN 26.81 POINTS, OR 1.24 PERCENT, AT 2,136.85
Pound and Rand two big currency stories for the day...
Good morning from Berlin. Asia mkts mostly higher as oil buoys risk sentiment. Samsung drove declines in S. Korea after stop selling Note7.
U.S. TREASURY PRICES PARE LOSSES, 30-YEAR YIELDS FALL BELOW 2.5 PERCENT, 10-YEAR YIELDS FALL BELOW 1.76 PERCENT
YUM to Cut 2,100 Corp. Restaurant Jobs by End of 2018. There goes the only growth dynamo of the "recovery"
jobs for waiters and bartenders have increased in 78 out of the past 79 months.
China’s Oil Demand Growth Vanishes in 3Q as U.S. Also Slows: IEA. At least OPEC production is record high
Platts China Oil Analytics: China Oil Demand Fell 2.7% Year over Year in May http://bit.ly/2dW8uc5
Instant classic tweet...
@Lee_Saks this site claims all 5 crude pipeline shut down. @dechristopher. http://www.timdechristopher.org/breaking_tar_sands_pipeline_shut_down …
following are the 5 lines purportedly affected (not all confirmed):
Oil has been rising for a month solely due to OPEC members supporting each other's intention to support arranging meetings to support prices
OPEC SEC-GEN SAYS OPEC/NON-OPEC HIGH COMMITTEE MAY ALSO MEET AGAIN IN NOV IF DOESN'T FINISH ALL ISSUES IN OCT (and again in dec, jan&feb ;))
60 oil means oil shale in North American taken offline , comes back online - which would moot any so called OPEC oil freeze...
Around The Horn - Europe.....
Greece......
Appointment of state assets fund council http://dlvr.it/MRG3jc
Notaries to walkout Wednesday, calling for gov't action on repossessions http://dlvr.it/MRG3MW
IOBE: Growth in 2017 not over 2 pct http://dlvr.it/MRFdZH
Fitch notes slow progress in reforms http://dlvr.it/MRFdTM
#Greece rejected asylum requests of 4 more Turkish soldiers who fled 2 country aft failed coup. Now 7 ouf of 8 requests have been rejected
ECB's Stournaras: Greece Cannot Access Financial Markets Until 2nd Review Is Concluded - RTRS
Holger Zschaepitz @Schuldensuehner
75% of #Greece’s €328bn govt debt owned by official sector w/ EFSF, ESM, IMF & bilateral loans at €226bn, while ECB held <€19.5bn (Barclays)
Germany......
Deutsche Bank tries to message the credit market but sends the wrong one http://bloom.bg/2dJeJNa
DEUTSCHE BANK TAPS 5-YEAR BOND FOR US$1.5BN. Just 3 days after selling $3bn in debt
Nothing to see here...
Ravi Raju, Deutsche Bank Asia Pacific wealth management chief, quits for UBS in bank's latest hemorrhaging http://bit.ly/2dJ899x
Why did the ECB bend the rules for Deutsche Bank? http://on.ft.com/2e4BE3r
Deutsche Bank shakes up investment bank to regain lost ground http://reut.rs/2e4kL9k
A Bank of England official has slammed European peers for giving Deutsche Bank special treatment during stress tests http://on.ft.com/2dIpxLo
MERKEL SAID TO WARN BUSINESSES NOT TO OPPOSE EU BREXIT LINE
#GERMANY | ZEW SAYS GERMAN BANKS CURRENTLY BURDEN ON ECONOMIC OUTLOOK - BBG
New INSA/Bild Poll #Germany voter intentions: Merkel's CDU/CSU drops to its lowest ever showing at 29.5% - as per @NinaDSchick
Spain.....
LATEST: King Announces New Round Of Talks With Parties On October 24-25
NEW ROYAL TALKS: Speaker: no date for third confidence vote in unknown candidate. https://www.thespainreport.com/articles/945-161011100143-daily-spain-briefing-thursday-october-11-2016#709 …
LUXEMBOURG - GERMANY'S SCHAEUBLE SAYS SUSPENSION CAN BE AVOIDED IF COUNTRIES FULFILL THEIR OBLIGATIONS
LUXEMBOURG - GERMANY'S SCHAEUBLE SAYS MUST TAKE DECISION BY DECEMBER ON SUSPENSION OF STRUCTURAL FUNDS FOR SPAIN, PORTUGAL
Spain looks like its deficit will be 4.2% of GDP in 2017..
Russia......
Putin cancels Paris visit set for October 19th...
Russia says instead of cutting production it prefers to freeze oil output at current post-Soviet record levels of 11.2 million barrels a day
Looks like someone's been on the phone to Rosneft about earlier comments
Sounds bullish for oil to me ! Lol
Rosneft not capping production ( despite Putin promises to cooperate with OPEC.)
Rosneft CEO is skeptical about a global crude production freeze or cut - Why should we do it ? " said Rosneft CEO Igor Sechin to Reuters.
Novak: Russia will air its proposal only after OPEC reaches its own final agreement. #OOTT
Odds & Ends
North and South Carolina Flooding - Post - Hurricane Matthew....
projo: N.C. braces for more flooding in downstream towns http://buff.ly/2dKmjLd
A lot of major flooding continues across eastern NC. The Neuse River at Goldsboro and Tar River at Tarboro are expected to crest today.
Water rescues continue in #NorthCarolina as major #flooding persists from #HurricaneMatthew @accuweather http://www.accuweather.com/en/weather-news/1500-stranded-in-north-carolin/60615074 …
There have been at least 18 confirmed weather-related fatalities in North Carolina following #Matthew:
Lumber River in Lumberton has exceed the record flooding from 2004, but forecasts do have a decent beginning today: #ncwx
More than 400,000 remain without power in South Carolina as the result of #Matthew:
Turkey.....
#Turkish Deputy PM: Turkey will remain in its Bashiqa base in northern Iraq as long as it "is needed there" https://goo.gl/nlQTYp
PURGE IN PAST 24 HOURS: 108 arrested, 113 others detained over coup charges || http://turkeypurge.com/108-arrested-113-others-detained-over-coup-charges-on-tuesday …
No court decision but professors are fired, stripped of all titles and affiliations and banned from applying to a public job again.
A Turkish professor was beaten in a prison so bad that he cannot even count money to buy drink. http://www.turkeytms.com/2016/10/11/turkish-prisons-are-filled-with-professors-like-my-father/ …
Parents, both academics, arrested in post-coup crackdown in Turkey. 80 years old grandma is taking care of kids http://www.turkeytms.com/2016/10/11/turkish-prisons-are-filled-with-professors-like-my-father/ …
This Turkish academic has a father with terminal cancer. A pregnant wife. Two disabled sisters. And he is in prison. http://www.turkeytms.com/2016/10/11/turkish-prisons-are-filled-with-professors-like-my-father/ …
This is absolutely shocking. 1 million people in total have been affected by emergency decrees in #Turkey. They have no future.
Turkey Won’t Ever Join EU, Austrian Foreign Minister Tells Welt
Syria.....
This could be the thing that hands Aleppo to Assad http://ow.ly/DTMR3054lPi
Ahrar al-Sham official spokesperson says that "Jund al-Aqsa" fighters attacked one of AaS bases in Idlib despite declaring allegiance to JFS
Libya....
Are Libyans abandoning democracy in search of stability?
http://www.al-monitor.com/pulse/originals/2016/10/libya-abandoning-democracy-search-stability.html … #Libya
Gangland assassination: Acting head of #Libya's Civil Registry Authority shot yesterday in Tripoli, died today https://www.libyaherald.com/2016/10/10/assasination-attempt-on-tripoli-civil-registry-authority-acting-head/ …
US Politics....
JUST IN: Trump goes nuclear on Ryan: 'I don't want his support' http://hill.cm/czUXzrR
House Judiciary Committee Calls For Inspector General Probe Into FBI "Special Treatment Of Clinton Insiders" http://www.zerohedge.com/news/2016-10-11/house-judiciary-committee-calls-inspector-general-probe-fbi-special-treatment-clinto …
House Judiciary Committee accuses FBI of allowing "political considerations to hijack the criminal process" http://www.zerohedge.com/news/2016-10-11/house-judiciary-committee-calls-inspector-general-probe-fbi-special-treatment-clinto …
US response to Russian hacking of DNC & others will be "proportional" & it is unlikely that it’ll be announced in advance, says @PressSec
New NBC/WSJ polling:
September: Clinton +6
After Trump video: Clinton +11
After debate: Clinton +7
Combined Sat-Sun-Mon: Clinton +9
Media yawns. Democrats look the other way. GOP political hacks wring their hands more vigorously over #Kitty-Gate.
Private Clinton trumps public one on capitalism: Wikileak transcripts show Clinton embracing trade & globalization. http://www.breakingviews.com/considered-view/private-clinton-trumps-public-one-on-capitalism/?h=eaddc05afec6dd95ea63dac5cf0cf1ce&utm_source=Sailthru&utm_medium=email&utm_campaign=Capitalist%20Clinton%2C%20Bond%20buyers%2C%20Latam%20banks%20Mon%2C%2010%20Oct%202016%2020:21%20mlangfield&utm_term=BV%20-%20Eikon …
“The Apprentice” Microphone Guy Says Trump Repeatedly Called Him A “Fucking Monkey” https://www.buzzfeed.com/emaoconnor/trump-called-mic-guy-fucking-monkey?utm_term=.wxw1qA8ew#.mnbxzmEBR …
Duterte....
Duterte readies huge business delegation for Beijing visit as pivot from Washington gathers pace
Duterte continues dancing with China & Russia , as well as "dissing" US & Obama..
Italian Polls....
Italy, EMG poll:
PD-S&D: 31%
M5S-EFDD: 30%
LN-ENF: 13%
FI-EPP: 11%
FdI-NI: 4%
SI-LEFT: 4%
NCD/UDC-EPP: 3% ↓
#Italy #Sondaggio
Italy, Constitutional Referendum, Ixé poll:
Yes: 51% (-2)
No: 49% (+2)
#ReferendumCostituzionale #Referendum
Italy, Constitutional Referendum, EMG poll:
Yes: 47% (nc)
No: 53% (nc)
#ReferendumCostituzionale #Sondaggio #Italia
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