Random Market News, 21 September 2017

 

Market Info. 1

Logistics. 2

Tech. 3

Random.. 4

Events on 9/22 (ET) 4

 

 

Market Info

 

"Stocks Drop, Yen Rises on Renewed N. Korea Tension: Markets Wrap."

https://www.bloomberg.com/news/articles/2017-09-21/asia-stocks-to-fall-as-u-s-retreats-metals-drop-markets-wrap

 

"S&P Cuts China’s Credit Rating, Citing Risk From Debt Growth.

S&P Global Ratings cut China’s sovereign credit rating for the first time since 1999, citing the risks from soaring debt, and revised its outlook to stable from negative.

The sovereign rating was cut by one step, to A+ from AA-, the company said in a statement late Thursday.

“China’s prolonged period of strong credit growth has increased its economic and financial risks,” S&P said. “Although this credit growth had contributed to strong real gross domestic product growth and higher asset prices, we believe it has also diminished financial stability to some extent.”"

https://www.bloomberg.com/news/articles/2017-09-21/s-p-lowers-china-s-rating-to-a-from-aa-says-outlook-stable

 

"French unions hit the streets to protest Emmanuel Macron's labor reforms.

French unions have called for new protests to President Macron's proposed labor reforms. Unions and political opponents are turning up pressure on the leader, who is facing major resistance for the first time."

http://www.dw.com/en/french-unions-hit-the-streets-to-protest-emmanuel-macrons-labor-reforms/a-40627167

 

"EU-Canada trade pact CETA comes into force — provisionally.

A landmark free trade deal linking the European Union and Canada has come into effect despite lingering opposition from activists. The EU hailed the pact as one of its most ambitious ever, "setting a new standard.""

http://www.dw.com/en/eu-canada-trade-pact-ceta-comes-into-force-provisionally/a-40615066

 

"[UK] New Pre-action Protocol for debt claims.

The Pre-action Protocol for debt claims comes into force on 1 October 2017 and will potentially have a severe impact on a business if it has outstanding debts due from individuals.

The Protocol does not apply to business-to-business debts..."

https://www.lexology.com/library/detail.aspx?g=ea9a32f2-8923-4455-a096-fcb4cc31061e

 

"Firms shake up collateral management providers as new rules bite.

Real-time settlement was cited as the most important factor in the selection process for a collateral management provider.

Buy-side and sell-side organisations are increasingly switching collateral management providers in the wake of stricter rules on initial and variation margin."

https://www.globalcustodian.com/Market-Infrastructure/Firms-shake-up-collateral-management-providers-as-new-rules-bite/

 

"ECB plans new "backstop" reference rate by 2020.

The move could pave the way for alternatives to other leading benchmarks recently hit by scandal."

https://globalinvestorgroup.com/articles/3688642/ecb-plans-new-backstop-reference-rate-by-2020

 

"Europe outlines increased supervisory powers, regulatory budgets.

Commission plans to propose measures to promote sustainable finance in early 2018."

https://globalinvestorgroup.com/articles/3688641/europe-outlines-increased-supervisory-powers-regulatory-budgets

 

Data dump.

 

VIX ~9.66. 10-yr treasury volatility (TYVIX) ~3.87.

http://www.cboe.com/products/vix-index-volatility/volatility-on-interest-rates

 

0-25

25-50

50-75

75-100

100-125

125-150

150-175

175-200

200-225

225-250

250-275

275-300

300-325

325-350

350-375

375-400

400-425

425-450

450-475

11/1/2017

0.0%

0.0%

96.0%

4.0%

0.0%

12/13/2017

0.0%

0.0%

0.0%

0.0%

26.6%

70.5%

2.9%

0.0%

0.0%

1/31/2018

0.0%

0.0%

0.0%

0.0%

25.5%

68.7%

5.7%

0.1%

0.0%

0.0%

0.0%

3/21/2018

0.0%

0.0%

0.0%

0.0%

19.7%

59.0%

19.9%

1.4%

0.0%

0.0%

0.0%

0.0%

0.0%

5/2/2018

0.0%

0.0%

0.0%

0.0%

19.3%

58.2%

20.7%

1.8%

0.1%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

6/13/2018

0.0%

0.0%

0.0%

0.0%

13.5%

46.5%

31.9%

7.4%

0.6%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

8/1/2018

0.0%

0.0%

0.0%

0.0%

13.4%

46.2%

32.1%

7.7%

0.6%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

http://www.cmegroup.com/trading/interest-rates/countdown-to-fomc.html/

 

10yr Sovereigns.

https://www.investing.com/rates-bonds/government-bond-spreads

https://tradingeconomics.com/bonds

 

FX.

https://www.investing.com/currencies/streaming-forex-rates-majors

https://tradingeconomics.com/currencies

 

Equity.

https://www.investing.com/indices/major-indices

https://tradingeconomics.com/stocks

 

Commodities.

https://www.investing.com/commodities/real-time-futures

https://tradingeconomics.com/commodities

 

News feed.

https://tradingeconomics.com/stream

http://www.marketwatch.com/newsviewer#

https://global.handelsblatt.com/

 

Logistics

 

"Federal Maritime Commission to take closer look at “Fair Port Practices”.

Witnesses to be invited to testify at the hearing will include: legal representatives of the petitioners, trade and shipper associations representing various interests, individual importers, exporters, customs brokers, freight forwarders, logistics companies, trucking and drayage companies, VOCCs, port authorities, and MTOs."

http://www.logisticsmgmt.com/article/federal_maritime_commission_to_take_closer_look_at_fair_port_practices

 

"Niche container lines preventing alliance dominance.

Strong competition is stopping the three largest box alliances from becoming oligopolistic in Asia, according to Dimerco.

“The five niche container lines - Zim, PIL, Wan Hai, Matson and SM Lines - moving Asian imports increased their total share 1% point to 6.4% in the April-to-June period,” he added.

“The niche carriers contribute to a balanced environment in the Pacific by tailoring their services to their customer base, maintaining good service levels, and pricing competitively.”

He also said smaller carriers continued to play a leading role in preventing freight rates from soaring."

http://www.lloydsloadinglist.com/freight-directory/news/Niche-container-lines-preventing-alliance-dominance/70379.htm

 

"Diego Aponte confirms 22,000 teu ship order.

MSC ends newbuilding drought with an order for 11 mega boxships placed with DSME that could be worth in excess $1.5bn, based on indicative prices for similar-sized ships to be built for CMA CGM which signed a contract with Chinese yards a few hours earlier."

https://lloydslist.maritimeintelligence.informa.com/LL111530/Diego-Aponte-confirms-22000-teu-ship-order

 

"Panalpina marches into digital age.

Swiss forwarder claims new customer portal will redefine how it interacts with shippers."

http://www.lloydsloadinglist.com/freight-directory/news/Panalpina-marches-into-digital-age/70381.htm

 

"FTR’s Trucking Conditions Index sees increase from June to July.

FTR said that the July reading reflects a tight capacity environment, increasing spot market rates, as well as an impact on the market this fall and winter as a result of the pending ELD (electronic logging device) regulation for motor carriers."

http://www.logisticsmgmt.com/article/ftrs_trucking_conditions_index_sees_increase_from_june_to_july

 

Tech

 

"Google acquires HTC’s Pixel team for $1.1 billion.

Certain HTC employees, including many who are working on Pixel smartphones, will join the Alphabet company. In return, Google will pay HTC $1.1 billion in cash.

The transaction is expected to close by early 2018.

In a separate deal, Google will also gain a non-exclusive license for HTC intellectual property, though terms of that IP agreement were not disclosed."

https://venturebeat.com/2017/09/20/google-acquires-htcs-pixel-team-for-1-1-billion/

 

"ChainLink raises $32 million to connect blockchains with external data.

The biggest data providers realize this new model could be good business for them, but they’re not willing to take the jump until they see a decent volume of smart contracts in play. So we’ll likely see smaller and mid-sized data providers move in first, with the rest following later. And the pace at which key data feeds become available will, to a certain extent, dictate how quickly the whole ecosystem is able to develop."

https://venturebeat.com/2017/09/20/chainlink-raises-32-million-to-connect-blockchains-with-external-data/

 

"Super-Accurate GPS Chips Coming to Smartphones in 2018.

Broadcom’s receiver first locks on to the satellite with the L1 signal and then refines its calculated position with L5. The latter is superior, especially in cities, because it is much less prone to distortions from multipath reflections than L1."

https://spectrum.ieee.org/tech-talk/semiconductors/design/superaccurate-gps-chips-coming-to-smartphones-in-2018

 

"Smartphone Heart Monitor Beats Doctors at Diagnosing Atrial Fibrillation.

These days, consumers can buy a heart monitor that’s about the size of a piece of gum and stick it on the back of their smartphone, then check their heart rate as often as they like.

A new study that tested the Kardia Mobile heart monitor, made by AliveCor, found that the device detected more cases of the dangerous heart condition atrial fibrillation than general practioners offering routine care."

https://spectrum.ieee.org/the-human-os/biomedical/diagnostics/heart-monitor-for-your-phone-beats-doctors-at-diagnosing-atrial-fibrillation

 

"Forgotten strands of DNA initiate the development of immune cells.

Calling it the "big bang" of immune cell development, the researchers made their discovery within previously overlooked stretches of DNA located between genes.

Through genomic studies and genetic experiments in mice, the scientists found that the ignored areas, known as "non-coding" DNA, activate a change in the 3D structure of DNA that brings promoters and enhancers together with stunning accuracy. Murre describes the mechanism as somewhat like a stiff wire—with enhancers and promoters on either end—that's bended together into a loop and anchored in place. Enhancers and promoters, once distantly separated, are now repositioned in close proximity to initiate the development of immune system building blocks known as T cells."

https://medicalxpress.com/news/2017-09-forgotten-strands-dna-immune-cells.html

 

Startup/SME of the Day.

 

"Chronicled.

Chronicled is a blockchain and IoT technology company based in San Francisco. We are developing turnkey solutions enabling physical property to be securely linked to a blockchain for authentication, e-commerce, provenance, supply chain, and finance related use cases."

https://chronicled.com/

 

Random

 

"Columns of the Temple of Augustus

The 2,000-year-old Roman columns are hidden within Barcelona's Gothic Quarter.

One of the oldest treasures in Barcelona is also one of the most hidden. Located in the city’s Gothic quarter, four 2,000-year-old columns from the Roman Empire’s Imperial Period are guarded by the building that houses the Centre Excursionista de Catalunya (Hiking Club of Catalonia)."

http://www.atlasobscura.com/places/columns-of-the-temple-of-augustus

 

Events on 9/22 (ET)


France  FR: GDP, 2:45 AM ET

France  FR: PMI Composite FLASH, 3:00 AM ET

Germany  DE: PMI Composite FLASH, 3:30 AM ET

European Union  EZ: PMI Composite FLASH, 4:00 AM ET

Great Britain  GB: CBI Industrial Trends Survey, 6:00 AM ET

Canada  CA: CPI, 8:30 AM ET

Canada  CA: Retail Sales, 8:30 AM ET

USA  US: PMI Composite Flash, 9:45 AM ET

USA  US: Atlanta Fed Business Inflation Expectations, 10:00 AM ET

USA  US: Baker-Hughes Rig Count, 1:00 PM ET

 

http://online.wsj.com/mdc/public/page/2_3063-globalEconomicCalendar.html

https://tradingeconomics.com/calendar (More complete listing, including consensus)

https://worldview.stratfor.com/article/geopolitical-calendar-week-sept-18-2017