The Day Today

The Day Today 4 Jan 2017

* Trump tweets twice, gets 2 results: Ford scraps Mexico factory, Republicans drop plan to scrap Ethics Cttee
* Britain’s Ambassador to the EU resigns [not really a surprise as he had threatened to do so many times before and was considered by the Govt to be overly pessimistic about Brexit process]
* Paris lobby group is coming to London to lure away 20,000 bankers
* German inflation 1.7%, prompting IFO chief to say QE should end in March
* Le Pen kicks off her campaign by promising a referendum on EU membership within 6 months of winning: “The French want less Europe and more France…I want the French people to recover their sovereignty — at least territorial sovereignty with permanent border control, as well as monetary and economic sovereignty”
* She also softens her position on leaving the Euro, saying France could go back to the ECU
* Bond funds now very short duration
* Atlanta Fed Q4 GDP NowCast 2.9%
* BlackRock’s U.S.-based active funds post record 2016 withdrawals
* China is said to be considering options to support the yuan & curb outflows, ‘sources’ tell BBRG
* South Korea FinMin will press Korea’s case if U.S. makes ‘irrational’ trade demands

The Day Today 3 January 2016

* ECB hawks are out: Nowotny, “a significant increase in inflation rates can be expected in 2017” and Weidmann says waiting until 2019 to tighten policy “would be too late”

* IFO chief: “The standard of living in Italy is at the same level as in 2000. If that does not change, the Italians will at some stage say: ‘We don’t want this euro zone any more””

* Better than exp Eurozone PMIs

* Deutsche chairman rules out merger with another European bank, “No one in Germany needs to worry about rescuing banks”

PBOC’s Ma Says New Cash Transaction Rules Are Not Capital Controls

Singapore’s economy just recorded its best growth quarter in three years

* Head of HSBC commercial banking: “Since the referendum we’ve seen our UK portfolio of business customers increase their cash deposits and reduce their utilisation of overdraft facilities”

The New Year’s Eve Eve Day Today

* Obama expels 35 Russian diplomats
* China adds 11 new currencies to its CFETS currency basket
* Italy criticises the ECB over Monte Paschi
* Saudi Arabia is moving to the Gregorian calendar, it’s Happy New Year 1438 for them right now

…..Wishing you a very Blonde and very Moneyed 2017 year ahead! Thank you for all your support, yes even you, you know who you are……

The Day Today 28 December 2016

* Toshiba down 26%, 5th consecutive day of losses, after credit rating downgrades and its need to write down a US nuclear acquisition
* Trump/Obama transition continues to be fractious, now John Kerry issues his biggest criticism yet of Israel as a parting shot
* Obama makes a phone call to Trump after being accused on twitter of “roadblocks”, Trump: “we had a very nice conversation”
* The SNP urges Theresa May to guarantee the rights of EU citizens living in the UK
* China announces plans for $0.5 trillion spend on its railways by 2020, covering 19k miles and 80% of major Chinese cities
….and in more sad news…
* Ex-Bundesbank President and “High Priest of the Deutschmark” Hans Tietmeyer dies
* Carrie Fisher’s mother Debbie Reynolds dies, one day after her daughter

The (Christmas Eve Eve) Day Today 23 December 2016

* China alarmed as Trump appoints Trade Adviser with a known “bias against China”

* Bail-out (in?) of Monte Paschi begins: Govt authorises 20bn to help, and pledges protection for 40,000 retail savers who had bought the bank’s junior debt (but say they were unaware of the risks they were buying into)

* Deutsche reaches $7.2bn settlement with DOJ

* “ECB plans to keep debate about further stimulus closed until after German elections”, ‘senior officials’ tell RTRS

* UK consumer sentiment lowest since July, business sentiment highest since March

* Atlanta Fed NowCast 2.5% for US Q4 GDP

* Australia arrests 7 in advance of Christmas Day terror plot as Germany say Tunisian suspect’s fingerprints found in truck

….sorry to leave you with that last one, let’s remember the glad tidings of joy over this Christmas period. Merry Blonde Christmas to one and all!