Tuesday, October 17, 2017

Economic News , Data & Views.....October 17 , 2017 ...... Topics For Tuesday-1) Markets : Asia - Calendar For Asia Wednesday , Market Moving News & Data ; US - Dow And S&P End With New Record Closes , FX Wrap For New York , API Inventory Data , TIC Flows Data , Additional Items Of Note.2) US Politics : Swampland - Healthcare , NAFTA , Russia Probe & Collusion Issues , Puerto Rico Updates , More Items Of Note. 3) France - 10 Arrests Made Of Far Right Militants Over Terror Plot To Attack Politicians & Mosques. 4) Spain- Thursday Drop Day Approaches For Rejection Of Independence Declaration , Large Protests Against Jailing Of Catalan Leaders , Additional Items Of Note. 5) Italy - News For Tuesday To Consider. 6) UK- UK-EU Talks Items To Consider. 7) Odds & Ends



Markets.....


Asia....



Calendar for Wednesday. ..




Asia watch...




China's biggest political event, the Communist Party congress, begins in Beijing under tight security:





The Communist Party congress determines who rules China and the country's direction for the next term:








Japanese Trade Minister Says Govt To Offer USD10 Bln To Support Building LNG Infrastructure In Asia


S.Korea Sept Jobless Rate 3.7pct (est 3.7pct, prev 3.8pct)



Kobe Steel Uncertain About Impact On Earnings Of Fake Data and Its Reputational Fallout - Nikkei




US...



US stock index watch..





NY FX wrap...





US Treasury: ’s trade surplus w/ US is very sizable & matter of concern. Has responsibility to contribute to more bal demand growth.




US names no FX manipulators, but GER, CN, JP, KOR, CHE on watch list. India under observation after FX-puchase rise.




Crude -7.130MM Gasoline +1.941MM Distillate +1.644MM Cushing -0.151MM



US Total Net TIC Flows (USD) Aug: 125.0B (prev -7.3B) -Net Long-Term TIC Flows (USD) Aug: 67.2B (prev R 1.2B)



Keep an eye on this item...





US Politics....



Swampland.....



“Anything propping [ObamaCare] up is only saving what Republicans promised to dismantle"-Rep Mark Walker , Chmn-Republican Study Committee.




No takers on this story today ? Anyone else in the media checking this out ?







Senator McCain: Will Support Alexander-Murray Health Agreement




US Treasury Sec Mnuchin: Everything’s Negotiable On Taxes, Except Corporate Tax Rate – Fox News




TILLERSON STRESSES TO PM ABADI U.S. DOESN'T RECOGNIZE KURDISH REFERENDUM: ABADI FACEBOOK POST.



JUST IN: Mueller's team interviews Spicer as part of Russia probe: report




Any increase in ObamaCare premiums is the fault of the Democrats for giving us a "product" that never had a chance of working.




1 hour ago
Not so fast...




Good for the State Department....







Alexander/Murray deal provides cost sharing reduction funding for 2018 and 2019




Alexander/Murray deal lets states waive Obamacare requirements & make more health care plans available



Schumer on if the Alexander/Murray deal gets GOPers off the repeal/replace mantra: There are no assurances.



Heading into 2018...




US Trade Rep. Lighthizer: Successfully Completed Round 4 Of NAFTA Talks - RTRS



NAFTA Ministers: Period Between Round 4-5 Of NAFTA Talks Extended -Talks To Extend Past End-2017 Deadline



US Trade Rep. Lighthizer: Successfully Completed Round 4 Of NAFTA Talks - RTRS



Copy of today's travel ban order & opinion.




BREAKING: Federal judge in Hawaii issues nationwide injunction to block enforcement of Trump's latest travel ban



Seems like we will know who will head the Fed before POTUS leaves on his Asia trip November 3rd.




Not sure these NAFTA talks are going anywhere..





Puerto Rico..



Mall of San Juan to reopen Thursday sans Nordstrom and Saks; lack of power kept it closed since Hurricane Maria:





US House Chairmen Send Letters to FBI and FEMA Regarding Allegations of the Misappropriation of Hurricane Aid




GE contracted to repair Palo Seco powerplant for $4.7 million -




US House Committee to Review Puerto Rico’s Recovery and the Role of the Financial Oversight and Management Board




US Army Corps denies any role in awarding Whitefish contract to repair Puerto Rico energy system




Texas company awarded $240M contract in effort to restore power to Puerto Rico -





Businesses in Santurce’s Ciudadela Area: Operating with Undaunted Courage -




Hopefully , this will be a help regarding short term and longer-term electric grid concerns.





Huge ongoing dispute between Puerto Rico govt & PR College of Engineers concerning possibility to bring large power plant online





. está contratando a residentes de PR para asistir en la recuperación del desastre de los huracanes Irma y Maria.
Translated from Spanish by 
. is hiring residents of PR to assist in the recovery from the disaster of hurricanes Irma and Maria.




. explica que el % de consumidores con agua disminuyó ayer en el área metropolitana por problemas en las bombas.
Translated from Spanish by 
. explains that the % of consumers with water fell yesterday in the metropolitan area because of problems at the pumps.




Reunido con la Presidenta de la Junta de Calidad Ambiental y personal de la discutiendo iniciativas de recuperación ambiental.
Translated from Spanish by 
Meeting with the President of the Board of environmental quality and personal of the discussing initiatives environmental recovery.






France....



France arrests 10 far-right militants over terror plot to attack politicians




And then , there is this..




10 arrested in France over suspected plot to kill politicians: probe source



Spain.....



Thousands of people take to the streets of Catalonia after a judge ordered the detention of two separatist leaders




Protesters demand release of jailed independence leaders..




⚠️200,000 people take to the streets of Barcelona demanding release of pro-independence leaders, according to police figures




As mentioned yesterday , Thursday appears to be the drop dead date.




EU not getting involved in the internal affairs of Spain.




Something to keep an eye on...




Madrid disputes political prisoners allegations.




Rajoy has spoken to Theresa May about Catalonia. UK would not recognise illegal unilateral Catalan republic. Downing Street readout here:




⚠️ Catalan govt keeps door for dialogue open, says will not take any decision until Thursday, waiting for Madrid to answer negotiation offer



⚠️SegurCaixa Adeslas terminates insurance policies with the Parliament and the Catalan government due to the political situation



⚠️Platform for Democracy calls "massive" demonstration for Saturday October 21 in Barcelona to "defend rights and freedoms"



. refuses to comment on the imprisonment of pro-independence Catalan leaders



Italy.......



Nearly 50,000 young people left Italy last year




Not a good look..




UK......



Replying to 
Fox says doing substantial work to prepare for no deal scenario



UK trade minister Fox says that the UK may initially be worse off in the case of no deal



EUROPEAN COMPANIES WANT TO AVOID A CLIFF EDGE, NEED CERTAINTY AND TIME TO PREPARE FOR POST-BREXIT -LETTER



BRITAIN REMAINING IN EU CUSTOMS UNION AND SINGLE MARKET DURING TRANSITION PERIOD WOULD BE BEST - LETTER


EUROPEAN COMPANIES URGE BRITISH GOVERNMENT TO RAPIDLY PROVIDE CONCRETE NEGOTIATING PROPOSALS TO ADVANCE TALKS - LETTER



EUROPEAN COMPANIES EXTREMELY CONCERNED WITH SLOW PACE OF BREXIT TALKS -- BUSINESS EUROPE LETTER TO CHAIRMAN OF EU LEADERS



EU’s Barnier: No Intentions Of Holding Up Brexit Process



Odds & Ends....



Malta....



Daphne did not want police surveillance so as to protect visitors - PM




Watch: Prime Minister jeered as he leaves Castille




Venezuela....



Venezuela's Maduro defends disputed vote, opposition divided




Head of in admits company gave $50 million bribe to campaign



Splits emerge among the ranks of the Opposition over the recent Regional Elections. Proving fraud may be difficult.





Kurdistan/Iraq....



- First letter response from Masoud Barzani after abandoned disputed territories



Replying to 
The clashes between Peshmerga troops and Hashd al-Shaabi occurred earlier today in dam, and the situation is currently calm.





Barzani: The Kurdistan nation with the power of the brave ones, sooner or later, will eventually reach its right and sacred objective




Coalition: Aside from one incident "miscommunication" no further reports of armed conflict between ISF-Kurdish Peshmerga.




North Korea...





Replying to 
Meanwhile the world's airlines avoiding airspace around North Korea...




US & Japan agree maximum diplomatic, economic and military pressure on North Korea.





North Korea could collapse within a year due to US sanctions, a defector and former Pyongyang official has said.




Let's hope this is the case.





North Korea not interested in diplomacy with US until it demonstrates nuke is capable of striking US east coast



Libya....







Now Tripoli port as well as Mitiga airport closed as Ghararat fighting continues -




Heavy clashes resumed in mainly near the coastal road, loud shootings heard. Residents advised to stay indoor









HoR suspend Tunis dialogue talks, accuses State Council of reneging on deal agreed so far -





State Council: We didn't demand any amendments.. House of Representatives has refused to deal w/ political agreement






Mohammed Maazab (State Council): Dispute is about manner of choosing Pres. Council members & Prime Minister.





Gunmen loyal to slain Gaddafi threaten to cut water supply to Tripoli if Mabrouk Ehnish not released by SDF in 72hrs





Homes hit, Armoured cars deployed & Flights suspended. All due to Militia clashes over control. Civilians suffering the most
 





Syria...



Replying to 
After cleaning ISIS pocket in Muhassan, Deir-Ez-Zor -Mayadin highway under SAA control.





MAP: Syrian Army cleaned Muhassan ISIS pocket in SE of Deir-Ez-Zor city with villages Abou Amr,Al Abd, Al Bouiyal,Muhassan.




Las Vegas....


Been missing since Thursday - just before giving interviews , key witness who can give clarity to muddled timeline.1






California Wildfires...



Update on Northern California wildfires..