LIVE ECON DATA NEWS & ANALYSIS

MARKET ANALYSIS:

Day Trading Talking Points:

• Headline news is negative China once again (see below).
• Equities rose slightly during the overnight Asia session
• Jackson Hole reveals EM hole but not to worry EM will be able to withstand SeptTaper.........or not
• ECB members dont rule out another cut - EURIBOR BUND TRADERS.
• Markets still digesting Friday's poor housing numbers
• ECON Data - US Durable Goods
• UK Holiday

LIVE ECON DATA:

Real Time Economic Calendar provided by Investing.com

SPEAKERS & SUPPLY:

Weidmann// EFSF New 10y Benchmark via syndication 

SUMMARY:

Durable Goods will be huge today coming off Friday's dismal housing numbers. With Asia already trading higher and Weidmann on the wires markets could continue to bounce higher. Aside from digesting ECB member comments during the EU session there is little data on the docket until the U.S opens.

GLOBAL MACRO THEMES:

FED Tapering in Sept / Debt Ceiling / Student Loans and Muni's Defaults / Eurozone Dysfunctionality / China Slowdown / Japan's Money Printers / UK Improving on higher inflation and falling wages / EM Slowdown in Full Swing

HEADLINES:

Summary: The news headlines are swirling once again and China and EM are in target scope. we seems headed for a collision course. Headline news should prove favorable for Fixed Income and Equities today.

Today's Trading News:

Emerging-Market Currencies Fall to Lowest Since 2010 on Fed. - And this is before we taper - Bloomberg

China Construction Bank Profit Growth Slows on Rising Bad Loans. - Bloomberg

ECB Council Members Split in Jackson Hole Over Room for Rate Cut. - Bloomberg

Demetriades Says Cannot ‘Rule Out’ Another ECB Interest Rate Cut. - Bloomberg

Fed Officials Rebuff Coordination Calls as Stimulus Taper Looms - BusinessWeek

High profit margins hint at pain to come. - Marketwatch

Questions on Fed succession nag in background at Jackson Hole. - CNBC

taper-risk-stocks-not-bonds - Zerohedge

whats-driving-treasury-yields - Zerohedge

Indicator-update-will-the-fear-trade-prevail - Wall St. Insiders

us-china-debt-zombie-Reuters

Global Macro News:

Japan to Decide on Sales-Tax Increase by Early Oct., Amari Says. - Bloomberg

containment-strategy-europe-fingers-crossed - Zerohedge

Welcome-housing-recovery-rents-are-rising-incomes-are-falling -A MUST READ !! - Zerohedge

Silvio-berlusconi-is-holding-italy-hostage- BI

emerging-market-fund-outflows-BI

france-is-heading-for-the-biggest-economic-train-wreck-in-europe-BI