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  • Friday, December 26, 2014

  • 7:08 AM
    • If oil prices average $60/bbl next year, the Russian economy could contract by 4% and the budget could have a deficit of more than 3% of GDP announced Finance Minister Anton Siluanov on Friday.
    • Siluanov also told journalists that he expected the ruble's average exchange rate to be around 51 rubles per dollar in 2015.
    • ETFs: RSX, RUSL, RUSS, RSXJ, ERUS, RBL
    | 7 Comments
  • 6:30 AM
     
    • Japan +0.06%
    • Hong Kong closed.
    • China +2.77%.
    • India +0.12%.
    • London closed.
    • Paris closed.
    • Frankfurt closed.
    | 1 Comment
  • 3:55 AM
    • Announcing that Ukraine's pursuit of NATO membership posed a danger to European security, Russian Foreign Minister Sergei Lavrov accused the West of using Kiev's bid as a way to fuel confrontation between Russia and Ukraine.
    • Russia has been facing economic troubles due to sanctions over the situation in Ukraine and low oil prices, and announced yesterday that it faced a higher than planned budget deficit for next year.
    • The ruble rose as much as 0.86% against the dollar today at 52.1, its strongest level in more than three week, as the government rolled out new steps to combat its decline, such as ordering exporters to sell some of their hard currency.
    • ETFs: RSX, RUSL, RUSS, RSXJ, ERUS, RBL
    | Comment!
  • 3:22 AM
    | 4 Comments
  • 2:33 AM
    • Keeping the BOJ under pressure, Japan core consumer inflation slowed to 0.7% in November, largely due to sliding oil prices. The figure was far below the central bank's 2% target.
    • Factory output unexpectedly fell and real wages marked their steepest drop in five years, dealing a blow to PM Shinzo Abe's stimulus policies aimed at pulling the world’s third-largest economy out of stagnation.
    • The Nikkei closed slightly up at 17,819.
    • ETFs: DXJ, EWJ, DFJ, NKY, DBJP, EZJ, EWV, JPNL, DXJS, SCJ, JSC, ITF, JPP, HEWJ, FJP, QJPN, JPMV, DXJT, DXJR, DXJH, DXJC, DXJF
    | 9 Comments
  • Thursday, December 25, 2014

  • 9:16 AM
    • Russia is facing a considerably higher deficit next year than planned as the economy slides toward recession, announced Finance Minister Anton Siluanov to reporters in Moscow.
    • "If incomes are lower and the main spending is fully financed, then we’ll have to use reserves and increase the deficit," said Siluanov. "One year with a deficit isn’t so scary, the most important thing is to prepare future budgets."
    • On top of U.S. and European sanctions over the situation in Ukraine, Russia has taken a big hit from low oil prices, it’s biggest source of revenue.
    • According to the central bank’s stress scenario, the country's GDP may also shrink by at least 4.5% in 2015 if crude averages $60/bbl.
    • Previously: Russian Finance Ministry says ruble instability is over (Dec. 25 2014)
    • ETFs: RSX, RUSL, RUSS, RSXJ, ERUS, RBL
    | 1 Comment
  • 8:07 AM
    • The People’s Bank of China is taking more steps to boost banks’ lending abilities, enabling banks to soon add deposits from non-bank financial institutions to their calculations of their loan-to-deposit ratios.
    • Under China’s regulatory requirement, banks in the country can’t lend more than 75% of their total deposits.
    • ETFs: CHIX
    | 2 Comments
  • 5:29 AM
     
    • As it confronts the lowest oil prices in five years, Saudi Arabia expects its budget deficit to widen to 145B riyals ($39B) in 2015. The budget deficit for 2014 is estimated at 54B riyals.
    • Revenue will drop to 715B riyals, from 1T riyals in 2014, while projected expenditure was set at 860B riyals, the Finance Ministry said in a statement today.
    • Expenditure in 2014 is estimated to have been 1.1T riyals, 29% higher than the target announced a year ago.
    | 4 Comments
  • 3:54 AM
    • Russia's Finance Minister Anton Siluanov said today he believed a period of instability on the domestic currency market was over.
    • Siluanov added that the central bank could lower its key interest rate if the stability persisted.
    • The ruble is up over 2% against the dollar at 52.57.
    • ETFs: RSX, RUSL, RUSS, RSXJ, ERUS, RBL
    | 5 Comments
  • 3:14 AM
    • Sumitomo Mitsui (NYSE:SMFG) has announced that it will buy Citigroup's (NYSE:C) Japanese retail banking operations to expand services for wealthy individuals in the country.
    • The deal, which includes ¥2.4T ($20B) in deposits, 740K customers and 32 branches, is expected to close in October.
    • Previously: Timeline disclosed for SMBC, Citi deal (Dec. 24 2014)
    | 4 Comments
  • 1:57 AM
    • Dragged down by losses for automakers and airlines, the Nikkei dropped 0.3% today to close at 17,809.
    • Japan Airlines (OTC:JAPSY) led the benchmark down, slumping over 4% following reports that the Japanese government plans to eliminate a program under which the carrier pays no corporate tax.
    • Chinese stocks rebounded after losing 5% the past two days, the biggest two-day loss in 18 months.
    • The Shanghai Composite Index is up 2.5% at 3,046, as construction and bank shares gained following the government's pledge to support machinery exports and on speculation that it will take steps to boost lending.
    | Comment!
  • Wednesday, December 24, 2014

  • 7:42 AM
    • A new ¥3.5T yen ($29B) stimulus package is expected to be approved by Prime Minister Shinzo Abe's cabinet on Saturday.
    • Japan is looking to give a quick boost to lagging regional economies and low-income households with subsidies, merchandise vouchers and other schemes,
    • The plan will also urge the Bank of Japan to hit its 2% inflation goal as quickly as possible, and promise to do its utmost to halve Japan's primary budget deficit in the fiscal year starting next April, to curb a runaway public debt.
    • Previously: Abe re-elected as Japan’s Prime Minister (Dec. 24 2014)
    • ETFs: DXJ, EWJ, DFJ, NKY, DBJP, EZJ, EWV, JPNL, DXJS, SCJ, JSC, ITF, JPP, HEWJ, FJP, QJPN, JPMV, DXJT, DXJR, DXJH, DXJC, DXJF
    | 1 Comment
  • 6:51 AM
    • Shares in Europe and Asia mostly pushed higher today on yesterday's strong U.S. growth data, with the dollar holding near its highest point in almost nine years against a basket of currencies.
    • U.S. stock index futures are all up about 0.1%, after the Dow roared above 18,000 for the first time yesterday.
    • The 10-year Treasury yield is flat at 2.26% and gold is lower by $1.10 per ounce to $1,176.90. Oil's down about $1 per barrel at $56.14.
    • ETFs: SPY, QQQ, DIA, SH, SSO, SDS, VOO, PSQ, IVV, SPXU, UPRO, TQQQ, SPXL, RSP, QID, SQQQ, DOG, QLD, DXD, RWL, EPS, UDOW, SDOW, DDM, BXUB, QQEW, QQQE, SPLX, BXUC, SFLA, QQXT, SPUU
    | 2 Comments
  • 4:38 AM
     
    • Shinzo Abe was re-elected prime minister by Japan’s parliament today following his decisive victory at the polls earlier this month.
    • Abe's most immediate challenge will be getting Japan's economy back on a growth track after two straight quarters of contraction.
    • His cabinet is expected to compile a stimulus package later this week, in yet another part of Abe’s policy mix of monetary easing, fiscal stimulus and long-term changes to accelerate growth.
    • The Nikkei closed up 1.2% at 17,854.
    | 6 Comments
  • 2:05 AM
    • Russia may lose its investment-grade credit rating for the first time in a decade after Standard & Poor’s placed the country on CreditWatch Negative.
    • The move "stems from what we view as a rapid deterioration of Russia’s monetary flexibility and the impact of the weakening economy on its financial system," the agency said in a statement.
    • S&P will resolve the CreditWatch upon the conclusion of its review, which is expected by mid-January.
    • ETFs: RSX, RUSL, RUSS, RSXJ, ERUS, RBL
    | 5 Comments
  • Tuesday, December 23, 2014

  • 2:21 PM
    • U.S. sales for Volkswagen (OTCQX:VLKAY) in December are expected to increase 14.2% to 62K, according to Kelley Blue Book.
    • Volkswagen December market share +20 bps to 4.2%.
    • Projected results include the Audi, Porsche and Volkswagen brands.
    • Full KBB forecast
    | Comment!
  • 2:19 PM
    • U.S. sales for Hyundai (OTC:HYMLF) in December are expected to increase 6.6% to 103K, according to Kelley Blue Book.
    • Hyundai December market share -20 bps to 6.9%.
    • Projected results include both the Hyundai and Kia brands.
    • Full KBB forecast
    | Comment!
  • 2:16 PM
    • U.S. sales for Nissan (OTCPK:NSANY) in December are expected to increase 6.6% to 117K, according to Kelley Blue Book.
    • Nissan December market share -20 bps to 7.9%.
    • The automaker is expected to see sales grow below the industry average due in part to its high concentration in the mid-size car segment.
    • Full KBB forecast
    | Comment!
  • 2:12 PM
    • U.S. sales for Honda (NYSE:HMC) in December are expected to increase 10.2% to 149K, according to Kelley Blue Book.
    • Honda December market share level at 10.0%.
    • The automaker is expected to keep pace with the industry average during the month
    • Full KBB forecast
    | Comment!
  • 2:10 PM
    • U.S. sales for Fiat Chrysler Automobiles (NYSE:FCAU) in December are expected to increase 20.5% to 194K, according to Kelley Blue Book.
    • Fiat Chryler December market share +120 bps to 13.0%.
    • The automaker looks like a lock for its 10th month of double-digit growth this year.
    • Full KBB forecast
    | 1 Comment
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