U.S. DT - The sum total in May of all net foreign acquisitions of long-term securities, short-term U.S. securities, and banking flows was a net TIC inflow of $69.9 billion. Of this, net foreign private inflows were $58.8 billion, and net foreign official inflows were $11.1 billion.

SHANA - Dr. Hassan Rouhani, following a meeting of the heads of the three powers, stated that the vast majority of countries do not undergo US domestic laws, saying: “In the fields of energy, transportation, production and staple commodities, the country will not encounter any trouble, and we have always been victorious every time the administration and people stayed together.”

IMF - Output grew by 3.8 percent in 2017, underpinned by a resilient non-hydrocarbon sector, with robust implementation of GCC-funded projects as well as strong activity in the financial, hospitality, and education sectors. The banking system remains stable with large capital buffers. Growth is projected to decelerate over the medium term.

IMF - Higher oil prices and short-term portfolio inflows have provided relief from external and fiscal pressures but the recovery remains challenging. Inflation declined to its lowest level in more than two years. Real GDP expanded by 2 percent in the first quarter of 2018 compared to the first quarter of last year. However, activity in the non-oil non-agricultural sector remains weak as lower purchasing power weighs on consumer demand and as credit risk continues to limit bank lending.

IMF - Following the severe recession in 2015−16, real GDP grew by 1 percent in 2017. Growth is projected to be 1.8 and 2.5 percent in 2018 and 2019, respectively, driven by a recovery in domestic consumption and investment. Even if federal expenditure remains constant in real terms at its 2016 level, as mandated by a constitutional rule, public debt is expected to rise further and peak in 2023 at above 90 percent of GDP.

OPEC - In 2018, oil demand is expected to grow by 1.65 mb/d, unchanged from the previous month’s assessment, with expectations for total world consumption at 98.85 mb/d. In 2019, the initial projection indicates a global increase of around 1.45 mb/d, with annual average global consumption anticipated to surpass the 100 mb/d threshold. The OECD is once again expected to remain in positive territory, registering a rise of 0.27 mb/d with the bulk of gains originating in OECD America. The non-OECD region is anticipated to lead oil demand growth in 2019 with initial projections indicating an increase of around 1.18 mb/d, most of which is attributed to China and India. Additionally, a steady acceleration in oil demand growth is projected in Latin America and the Middle East.

REUTERS - The Republican president, in Brussels for the NATO summit, took a swipe at Germany for supporting a new pipeline for Russian gas, saying at a pre-summit meeting: “We’re supposed to be guarding against Russia and Germany goes out and pays billions and billions of dollars a year to Russia.”

U.S. BEA - Expenditures by foreign direct investors to acquire, establish, or expand U.S. businesses totaled $259.6 billion (preliminary) in 2017. Expenditures were down 32 percent from $379.7 billion (revised) in 2016 and were below the annual average of $359.9 billion for 2014-2016. As in previous years, acquisitions of existing businesses accounted for a large majority of total expenditures.

U.S. BEA - The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $43.1 billion in May, down $3.0 billion from $46.1 billion in April,

U.S. BLS - Total nonfarm payroll employment increased by 213,000 in June, and the unemployment rate rose to 4.0 percent,

EBRD - The EBRD Board of Directors has approved an up to €500 million loan for the construction of the Trans Adriatic Pipeline (TAP), a priority project of the European Union (EU) and the Energy Community. The 878 kilometre pipeline will start at the Greek/Turkish border, cross Albania and, after passing under the Adriatic Sea, will end in southern Italy. It constitutes the final leg of the Southern Gas Corridor and will transport gas from the Caspian region to Europe.

IMF - Germany’s economic performance was strong in 2017, underpinned by solid domestic demand and a rebound in exports in the second half of the year. Despite a slowdown in public consumption due to the stabilization of refugee-related expenditures, real GDP grew by 2.5 percent.

МИНФИН РОССИИ - По состоянию на 1 июля 2018 г. объем ФНБ составил 4 839 258,4 млн. рублей, что эквивалентно 77 111,7 млн. долл. США,

МИНФИН РОССИИ - Ожидаемый объем дополнительных нефтегазовых доходов федерального бюджета, связанный с превышением фактически сложившейся цены на нефть над базовым уровнем, прогнозируется в июле 2018 года в размере +387,3 млрд руб.

REUTERS - “The project will definitely be financed. It is important for Gazprom and Russia currently has a high liquidity in euros,” Paul Corcoran, the Nord Stream 2 CFO, told Welt am Sonntag in an interview.