Brexit News Archive: 06 Jul 2016

5 Stocks With 3% Yields and 335% Upside

Since the salad days for stocks ended with the 2008 financial crisis, the new normal has been slower than average economic growth coupled with friendly (low) interest rates. The financial world hasn't returned to, well, normal due to some setbacks (Brexit most recently) and more headwinds (too much debt and ...
Brett Owens, Contributor / Forbes   |   Wed, 6 Jul 2016 22:37:00

Why the Brits do political satire so well - and Americans can barely do it at all

Events in Britain since the June 23 "Brexit" referendum has Americans marveling at the meltdown of a political system we're accustomed to regarding as far more sober and effective than our own. Yet no fan of Britain's classic political comedies on TV and the printed page could have been surprised....
Michael Hiltzik / LA Times   |   Wed, 6 Jul 2016 21:59:00

Chart watchers diverge on outlook for stocks

Wall Street pros that analyze charts and price patterns to figure out where the stock market is headed next in the post-Brexit world are divided on what's next for U.S.
USA Today   |   Wed, 6 Jul 2016 20:42:05

Stocks climb into positive territory as 10-year yield bounces off record low

Last week's big rally in risk assets following a rebound rally after the Brexit vote is starting to unravel.
USA Today   |   Wed, 6 Jul 2016 20:10:22

Amazon says 'business as usual' with plans to hire 1,000 extra staff

Online retailer says Brexit changes nothing for now and more staff needed to fulfil Prime Now one-hour delivery service Amazon is planning to hire 1,000 more people than previously expected in the UK this year as the online retailer rolls out its one-hour delivery operation and extends its web services. ...
Sarah Butler / Guardian   |   Wed, 6 Jul 2016 18:57:45

Is There a Global Rejection of Liberal Ideals?

The U.K. Brexit vote and Donald Trump's presidential campaign point to an illiberal wave.
The Conversation / U.S. News   |   Wed, 6 Jul 2016 18:40:15

Amazon to create 1,000 UK jobs

Amazon says it is creating 1,000 new jobs in the UK and that Brexit has not caused a dip in sales yet.
BBC   |   Wed, 6 Jul 2016 18:32:58

Procrastinating on July 6, 2016

**Over at [Equitable Must-Reads:** * **Nick Bunker**: [The importance of childhood education and the birth lottery for U.S. innovation - Equitable * **Kevin Drum**: [NAFTA and China Aren't Responsible for Our Steel * **Narayana Kocherlakota**: [Three Antidotes to the Brexit * **John Holbo**: [Podcasts I just...
Grasping Reality   |   Wed, 6 Jul 2016 18:26:26

3 More Property Funds Halt Withdrawals After Vote

Three asset managers followed three others that had temporarily suspended trading in their British real estate funds as investors sought liquidity.
DealBook   |   Wed, 6 Jul 2016 17:55:41

Hunt imposes new contract on NHS doctors

Health secretary told MPs he was acting to avoid uncertainty post-Brexit
FT   |   Wed, 6 Jul 2016 17:32:53

PRO Uncut: Byron Wien on market

Legendary investor Byron Wien believes policymakers are playing with fire and may be running out of options, should a recession arise.
CNBC   |   Wed, 6 Jul 2016 17:12:00

Electorate Tremors: The Era of the Angry Voter Is Upon Us

Whether they are fans of Donald Trump, supporters of Brexit or Marine Le Pen voters in France, "angry voters" have one thing in common: They've been left in the dust by globalization. By SPIEGEL Staff
Spiegel   |   Wed, 6 Jul 2016 17:06:00

Bond Yields Plunge Triggering Stock Market Rally

The equity markets roared back from the Brexit scare last week finishing the period with the best weekly gain of the year. Bond yields plunged in nearly every corner of... The post Bond Yields Plunge Triggering Stock Market Rally appeared first on See It Market .
See It Market   |   Wed, 6 Jul 2016 17:02:35

Bank of England's Carney steps up as Brexit crisis engulfs UK

By William Schomberg LONDON (Reuters) - As Britain struggles with political chaos following its vote to leave the European Union, central bank governor Mark Carney has stepped into the breach to manage the economic fallout. His response to the outcome of the June 23 referendum, starting with a televised address ...
Business Insider   |   Wed, 6 Jul 2016 16:48:38

Bank of England's Carney steps up as Brexit crisis engulfs UK

LONDON, July 6 (Reuters) - As Britain struggles with political chaos following its vote to leave the European Union, central bank governor Mark Carney has stepped into the breach to manage the...
Reuters   |   Wed, 6 Jul 2016 16:44:31

What We're Reading ~ 7/6/16

Decision Quality: Value Creation from Better Business Decisions [Carl Spetzler]An interview with Berkshire's Ted Weschler [Business Insider]Interview with Disney's Bob Iger [Hollywood Reporter]Brexit and the future of Europe [George Soros]Things you can't care about when managing other people's money [A Wealth of Common Sense]The truths and myths of buybacks [Fat ...
Market Folly   |   Wed, 6 Jul 2016 16:40:53

Brexit could lead to full-blown banking crisis: Pro

Lorenzo Codogno, Italian Ministry of Economy and Finance Director General and Former Chief Economist, discusses his prediction on a banking crisis in Italy due to the implications of a Brexit.
CNBC   |   Wed, 6 Jul 2016 16:35:00

Wigan’s Road to Anger, Loss and Class Resentments

The Labour-dominated city voted to jolt elites in London as well as in Brussels into restoring a lost world of secure jobs and communities.
ANDREW HIGGINS / NY Times   |   Wed, 6 Jul 2016 16:14:19

Trump, Brexit, and the West's "Mad as hell" moment

With the popularity of Donald Trump, and the UK's recent vote to leave the European Union, we live in seemingly strange political times, writes Melissa Smith. She comments that the sluggish world economy, migration crisis, and negativity towards globalism all appear to be fuelling the West's current "Mad as hell" ...
USAPP   |   Wed, 6 Jul 2016 16:11:06

The second domino, by Scott Sumner

Soon after the Brexit vote was announced, I made this comment : This time around the UK was probably hurt somewhat; British stocks are down around 4% as I write. But French and German stocks are down 7% to 8%. The markets in southern Europe are down 10% to 15%. ...
EconLog   |   Wed, 6 Jul 2016 16:02:00

Everybody Else Is Reading This

The Billable Hour Is A Feminist Issue Above The Law Justices Haven't Ended Abortion Restrictions Yet How Appealing The Potential Impact Of Brexit On The EU Emission Trading System And Future UK Climate Policy Breaking Energy Study Shows Electronic Monitoring Of Hand Hygiene Lowers MRSA Rates MedCity News
Dealbreaker   |   Wed, 6 Jul 2016 16:00:26

Update: Columbia Threadneedle suspends trading on £1.4bn UK Property fund

Columbia Threadneedle has joined Henderson, M&G, Standard Life Investments and Aviva Investors in suspending trading on its £1.4bn UK Property fund and feeder fund, amid a post-Brexit rush to exit the asset class.
Professional Pensions   |   Wed, 6 Jul 2016 15:56:02

Mongolia's election - a protest vote for the good

By Lee Cashell, Asia Pacific Investment Partners Amidst the chaos sown by Brexit, one country's protest vote is being greeted with relief by investors. In a landslide election, 3m Mongolians opted to end an era of policies that contributed to a fall off in foreign direct investment and economic growth. ...
Beyond BRICs   |   Wed, 6 Jul 2016 15:38:50

More on Online Polls, Brexit and Trump

TPM Reader RM chimes in on Brexit, online polls and how American pollsters are dealing with the Trump phenomenon ... I think the flaw in the analysis is that the UK polls also missed the Conservative Party's win in 2015. If you recall, Labour led coalitions led in virtually all ...
TPM   |   Wed, 6 Jul 2016 15:33:26

Gold rushes to two-year highs

Gold continued its recent gains to reach levels not seen in more than two years as investors continued their rush to invest in haven assets. The precious metal has added around US$300 to its price so far in 2016, with Brexit contributing significantly to this latest rally. The pound has ...
Proactive Investors   |   Wed, 6 Jul 2016 15:12:00

Brexitology

photo: muffinn A generation ago, in the second half of the 80s, hardly anyone would predict the fall of real socialism, or communism, as it was known in the West, and the disintegration of the Soviet Union. Quite the contrary; even such prominent Sovietologists as Zbigniew Brzeziski assumed that the ...
EconoMonitor   |   Wed, 6 Jul 2016 14:42:55

Tata Steel: Minister still 'confident' on Port Talbot rescue

Business minister Anna Soubry says she is Tata Steel's Port Talbot plant can be kept open despite uncertainty after the Brexit vote.
BBC   |   Wed, 6 Jul 2016 14:40:20

Case for minimum volatility looks robust

Equity markets' post-Brexit round trip provides test for smart beta
FT   |   Wed, 6 Jul 2016 14:31:40

France makes strong bid for banking business poised to leave London

Prime minister Manuel Valls tells French finance leaders he wants Paris to be 'the financial capital of the future' after Brexit The French government has pledged to make its tax regime for expatriates the most favourable in Europe, in a grab for London banking business displaced by Britain's decision to ...
Reuters in Paris / Guardian   |   Wed, 6 Jul 2016 14:25:13

Daily Digest 7/6 - Brazil Exports Drop, Bad Debt Piled in Italian Banks Looms as Next Crisis

Selling bonds may help U.S. pensions: Bank of America Merrill Lynch Canada Post lockout: work stoppages and unsustainable pension plans need to end Russia to empty one of its sovereign funds next year - ministry proposal U.K. Pension Fund Deficit Likely to Hit Record as Brexit Turmoil Squashes Bond Yields ...
Peak Prosperity   |   Wed, 6 Jul 2016 14:23:58

Did the Polls Miss Brexit and Maybe Trump Too?

After the UK voted to leave the European Union a week ago, there was a lot of talk about how the polls blew the result, predicting a "Remain" win when in fact "Leave" managed a close but clear victory. The rejoinder to this criticism - I think a valid one ...
TPM   |   Wed, 6 Jul 2016 14:11:00

Responses to the Referendum

So who is to blame? Please don't say the voters: 17,410,712 is an awful lot of people to be wrong on a question of this magnitude. They are not simply suckers and/or closet racists - in fact, relatively few of them are - and they are not plain ignorant. You ...
London Review of Books   |   Wed, 6 Jul 2016 14:03:28

Following Historically Bad June, Trump Polling Close To Clinton

Donald Trump really could have used a long weekend. Over the course of the seemingly interminable month of June, he parted ways with campaign manager Corey Lewandowski, went on a racist tirade against a Mexican-American judge, reported historically bad fundraising numbers, and bungled the Brexit while promoting his Scottish golf ...
Doug Schoen, Contributor / Forbes   |   Wed, 6 Jul 2016 13:51:00

Tarullo: Economy not 'running hot'

Federal Reserve Gov. Tarullo said financial markets are prepared for Brexit's impact.
CNBC   |   Wed, 6 Jul 2016 13:17:00

Briefing: Constitutional Conundrums, Real Estate Woes and Tory Voting

Updates on the aftershocks of Britain’s June 23 referendum to leave the European Union.
Sewell Chan   |   Wed, 6 Jul 2016 13:13:29

After Beating Insider Trading Allegations, Spanish Man Indicted On Perjury Charges

NEW YORK, NY - JULY 05: People walk by the New York Stock Exchange (NYSE) on July 5, 2016 in New York City. Markets were down in morning trading as investors are still nervous over the financial effects of Brexit. (Photo by Spencer Platt/Getty Images) A Spanish man who made ...
Jordan Maglich, Contributor / Forbes   |   Wed, 6 Jul 2016 13:00:00

Which U.S. banks have highest UK exposure risk?

Analyst: Brexit vote means the banks' deposit balances, securities and loans could be more risky
USA Today   |   Wed, 6 Jul 2016 12:58:42

Morning Movers: American Airlines Tumbles on Downgrade; Tesla Drops

Stocks look set for a second day of selling as the market continues to reconsider the impact of Brexit. Joe Raedle/Getty Images S&P 500 futures have, while Dow Jones Industrial Average futures have. Nasdaq Composite futures have. Medivation (MDVN) has gained 1.4% to $62.65 after signing a confidentiality agreement with ...
Stocks To Watch   |   Wed, 6 Jul 2016 12:39:57

BoA: The pension Pain Trade

BoA: Pension Managers Could Be About To Give Up Bond yields have plunged since Brexit, and it looks as if they are set to continue their downward decline going forward as the Bank of England, European Central Bank, and US [...]
Value Walk   |   Wed, 6 Jul 2016 12:36:26

Expanded ranges boost Topps Tiles sales

Flooring retailer shrugs off Brexit concerns saying it remains 'confident' in its long-term outlook
FT   |   Wed, 6 Jul 2016 12:35:37

Mark Carney to the rescue: Bank of England governor's Brexit crisis plan the only one U.K. has to work with

From the start of the Brexit crisis, Carney has shone a path forward for the country at a time when no elected politician is around to do so
Alessandro Speciale and Scott Hamilton, Bloomberg News / Financial Post   |   Wed, 6 Jul 2016 12:32:57

Fund managers look at leaving London

Survey after Brexit suggests vote has led some to rethink UK base
FT   |   Wed, 6 Jul 2016 12:32:52

Gold Rallies To 27-Mo. High On Keen Safe-Haven Demand

Gold prices are solidly up and hit a 27-month high Wednesday, on more safe-haven demand as risk appetite in the marketplace is on the downswing, post-Brexit vote.
Kitco News, Contributor / Forbes   |   Wed, 6 Jul 2016 12:30:00

How To Stay Afloat In Choppy High-Income Markets

How To Stay Afloat In Choppy High-Income Markets by Gershon Distenfeld, Alliance Bernstein Brexit has made at least one thing certain: markets are in for a stormy summer. Even so, there are steps that investors who rely on fickle global [...]
Value Walk   |   Wed, 6 Jul 2016 12:24:45

Paris dangles tax carrots to London bankers

French premier steps up post-Brexit drive to lure UK executives
FT   |   Wed, 6 Jul 2016 12:22:25

Tuesday Morning Links

MUST READS Pound hits new low on Brexit nerves - BBC Property funds halt trading as Brexit fallout deepens - Guardian Brexit Vote Underscores Limits of Direct Democracy - Spiegel FBI's decision proves rules don't apply to rich and powerful - The Hill Criminal charges against Clinton could have set ...
Tim Iacono   |   Wed, 6 Jul 2016 12:17:27

Italian banking crisis precedes Brexit, EU's Dombrovskis says

BRUSSELS, July 6 (Reuters) - European financial services commissioner Valdis Dombrovskis dismissed on Wednesday arguments that Italian banking is in crisis due to Britain's vote to leave the EU,...
Reuters   |   Wed, 6 Jul 2016 12:15:00

Bonddad Tuesday Linkfest

5-Day Sector Performance Is Very BearishBrexit Accelerates Pounds 100-Year Drop (BB)Sterling first slumped after coming off the gold standard in 1931 in which it had been overvalued, just as it was in 1944 when it joined the Bretton Woods system of managed exchange rates. Another 30 percent devaluation was swallowed ...
Bonddad Blog   |   Wed, 6 Jul 2016 12:13:00

Noam Chomsky full length interview: Who rules the world now?

Cathy Newman's full interview with Philosopher Noam Chomsky. From Trump and Clinton, to climate change, Brexit and TPP, America's foremost intellectuals presents his views on who rules the world today.
Plan B Economics   |   Wed, 6 Jul 2016 12:12:00

Deutsche Boerse hints HQ from London Stock Exchange deal will have to be outside UK

Deutsche Boerse signalled on Tuesday that the headquarters of the European giant to be created from its merger with the London Stock Exchange Group may have to be outside the United Kingdom after the Brexit vote.
Here Is The City   |   Wed, 6 Jul 2016 12:02:40

Gold soars to $1372 on persistent global uncertainty

Brexit-led uncertainty triggered a fresh bout of global risk-aversion trade and is boosting the safe-haven appeal of Gold, which has now jumped to its
Haresh Menghani / FX Street   |   Wed, 6 Jul 2016 11:49:00

10 Wednesday AM Reads

My morning train vacation reads: • El-Erian: 3 Things to Know About Record-Low U.S. Yields (Bloomberg View) • Gold Breaks Out as Brexit Hits European Currencies (Barron's) • How Brexit Is Likely to Keep Beating Up Emerging Markets (Real Time Economics) • Swedroe: A New Factor-Based Approach to Classifying and ...
The Big Picture   |   Wed, 6 Jul 2016 11:30:04

A Trigger to Revisit Bigger Global Worries

After the Brexit vote, thepoundhas dropped below $1.30, bond markets are going ballistic and risk appetite is taking a drubbing. But apart from the pound, is this really about the U.K.'s exit from the European Union?
WSJ   |   Wed, 6 Jul 2016 11:15:19

Morning News: July 6, 2016

Hong Kong Unlikely to Return Bookseller Wanted in Mainland China Brexit Aftershocks Shake U.K. Real Estate, Pound Financial Markets Show Lingering 'Brexit' Worries Gold Races [...]
Eddy Elfenbein   |   Wed, 6 Jul 2016 11:06:47

10 things you need to know before the opening bell (spy, spx, qqq, dia, wba, bx, vtr, tsla, twtr, fb)

Here is what you need to know. The British pound made a fresh 31-year low. Another day, another fresh 31-year low for the British pound. Sterling sank to 1.2798 in overnight action as traders continued to punish the currency amid the fallout from the Brexit vote. According to Goldman Sachs, ...
Money Game   |   Wed, 6 Jul 2016 11:05:00

Mortgage refinances jump 21% on low rates

A Brexit bonus is spurring U.S. homeowners to refinance their mortgages.
CNBC   |   Wed, 6 Jul 2016 11:00:00

Paris prepares incentives to attract finance jobs from London

By Leigh Thomas PARIS (Reuters) - The French government will outline incentives on Wednesday to make Paris a more attractive financial center, officials said, as the French capital seeks to win finance jobs from London for a post-Brexit era. France's financial sector has often complained of government ambivalence towards the ...
Business Insider   |   Wed, 6 Jul 2016 10:54:03

Strategies: Globalization is a small-business necessity

Brexit demonstrates that how globalization is handled by a country is critical.
USA Today   |   Wed, 6 Jul 2016 10:52:03

Crisis After Brexit: Let Us Put An End to the Old Europe of Denigrators

Europe's tall order for combatting Brexit: "What is called for is a union so good that people will want more of it."
Naked Capitalism   |   Wed, 6 Jul 2016 10:46:06

News: Morning Agenda: Pressures Grow After Vote

It May Be Time to Unwrap Another Hershey Deal | A Tasty, High-Calorie Deal
DealBook   |   Wed, 6 Jul 2016 10:33:47

DEUTSCHE BANK: There will be a second referendum - just not the one you expect

Many anti-Brexit campaigners have been calling for a second referendum on the question of European Union membership and even Tony Blair and Richard Branson have floated the idea. But Deutsche Bank thinks it's more likely we'll see another vote on the final deal to leave. The bank says in a ...
Business Insider   |   Wed, 6 Jul 2016 10:05:54

Inside The Mind Of Rick Rieder, BlackRock's $1.2 Trillion Bond Guy

Brexit is shaking markets, global growth stinks, and election nervousness is gripping Wall Street. Still, BlackRock's $1.2 trillion bond man is buying.
Steve Schaefer, Forbes Staff / Forbes   |   Wed, 6 Jul 2016 10:00:00

Social psychology of largescale hate

Many countries are facing a detestable resurgence of racism and ethnic hostility in the current political environment, catalyzed in complicated ways by the refugee crisis in Europe, the Brexit vote in the UK, and the rise of trumpism in the United States. Animosity against black and brown people, immigrants, and ...
Understanding Society   |   Wed, 6 Jul 2016 09:51:00

Property fund CEOs accused of 'doing nothing'

U.K. property funds didn't have the liquidity to allow investors to redeem their money, the co-founder of SCM Private told CNBC.
CNBC   |   Wed, 6 Jul 2016 09:45:00

UK New Car Registrations Fell Last Month

The SMMT says it is too early to say whether Brexit has had an impact after reporting only the second decline in four years.
Sky   |   Wed, 6 Jul 2016 09:30:38

Large U.S. banks have high exposure to U.K.

Analyst: Brexit vote means the banks' deposit balances, securities and loans could be more risky
USA Today   |   Wed, 6 Jul 2016 09:00:37

Tory leadership contest: Betting odds and poll predictions on who is favourite to become Prime Minister

Daniel Dunford / Telegraph   |   Wed, 6 Jul 2016 08:45:20

What Globalization Isn't

If there has been a bogeyman in politics this year, it has been While Brexit was seen by many as the latest rejection of the globalization that has been the mainstay of international economics since the end of the Second World War, American politicians, both left and right, have also ...
National Review   |   Wed, 6 Jul 2016 08:00:02

Mission impossible? - Fixing the unprecedented

An unexpected Brexit outcome hits, though many of the repercussions being seen were clearly foreseen. The choice of the British people to leave the EU has triggered political commotion in the UK and influenced European far right parties to demand their own referendum on EU membership. Just like turning a ...
Mathieu Ganado / Times of Malta   |   Wed, 6 Jul 2016 08:00:00

UBS: 'Gold has entered a new phase'

The price of gold will continue to shoot up in 2016, and has now "entered a new phase" of growth in the post-Brexit world, thanks to a variety of macroeconomic factors. The gold price has increased 24% this year so far. And the risks to the global economy will make ...
Business Insider   |   Wed, 6 Jul 2016 07:55:59

Aviva promises higher dividends

Insurance shares have been under pressure since Brexit vote
FT   |   Wed, 6 Jul 2016 07:35:31

Armstrong Economics: Standard Life Suspends Their Property Fund

The currency has dropped about 13% so far. Add the 5% write-off because they ASSUMED they lost money and you are at nearly a 30% drop. Property in London is declining, not because of BREXIT, but because of the crazy changes in laws and hikes in taxation. However, to make ...
House Price Crash   |   Wed, 6 Jul 2016 07:33:50

Further reading

Elsewhere on Wednesday, - Five bricks in the wall of worry. - How Remain lost. - Channeling Charles Kindleberger on Brexit. - "The costs of inequality are not merely economic or social ones. They are also political: inequality leads to poorer political Continue reading: Further reading
FT Alphaville   |   Wed, 6 Jul 2016 07:07:08

In London, Banker Bonuses Are Set To Disappear

Not only will Brexit be used as an excuse for companies to lower earnings guidance and for central banks to provide more quantitative easing, but it may also be a scapegoat for banker bonuses in London being slashed - everyone can let out their collective gasp now. As we have ...
Zero Hedge   |   Wed, 6 Jul 2016 07:00:00

JGBs enter uncharted waters as 20-yr yield hits negative, banks hurt

TOKYO, July 6 (Reuters) - Japanese government bond prices rose to lifetime highs on Wednesday as negative yields spread to 20-year bonds, with the Brexit vote exacerbating a flight-to-safety bid that...
Reuters   |   Wed, 6 Jul 2016 06:55:42

Safe Havens: Changing nature of risk, reward, yield, & uncertainty - TDS

Research Team at TDS, suggests that post Brexit, the nature of safe havens has changed and they believe that the basket of currencies (which is limite
Sandeep Kanihama / FX Street   |   Wed, 6 Jul 2016 06:39:32

Links for 07-06-16

Globalisation and polarisation in the wake of Brexit - VoxEU Job Training Can Work. So Why Isn't There More of It? - NYTimes Bias Doesn't Keep Us From Making Valid Decisions - Scientific American CEOs, Politics, and Other People's Money...
Economist's View   |   Wed, 6 Jul 2016 06:23:28

Forget Brexit, China's The Real Crisis (Watch Free Video)

Brexit has been dominating the world's business headlines during the past few weeks. But the impact of Brexit on the global economy is likely to be relatively minor compared with the coming fallout from the economic Hard Landing now underway in China. Macro Watch has just concluded a five-part series ...
Richard Duncan   |   Wed, 6 Jul 2016 06:15:19

Experts and the referendum: why we need to rethink economics and challenge 'econocracy'

The economy features prominently in the public debate, even though the jargon and decision-making behind it is completely inaccessible to much of the public. As a result, and to articulate their economic grievances, many use the language of nationalism and immigration - something that was particularly evident in the Brexit ...
British Politics and Policy at LSE   |   Wed, 6 Jul 2016 06:00:24

Surprise: Refugees Are Making The Military Industrial Complex Even Richer

Via TheAntiMedia.org, As Europe comes to terms with a Brexit vote fueled in large part by anti-immigrant hate-mongering, a new report exposes how war profiteers are influencing EU policy to make money from unending Middle East conflicts as well as the wave of refugees created by that same instability and ...
Zero Hedge   |   Wed, 6 Jul 2016 06:00:00

Add the property market to Ritchie's spheres of excellence

Brexit contagion is spreading. Yes I know the FTSE 100 has more than recovered its losses. But the FTSE 250, which reflects British economic activity much more accurately than the 100, has not and is heading down again right now. ... read more
Tim Worstall   |   Wed, 6 Jul 2016 05:53:37

GBP/USD bounces off lows, regains 1.2900

After testing the 1.2800 neighbourhood, GBP/USD has now managed to retake the 1.2900 and beyond. GBP/USD finds support at 1.2800 'Brexit' fears have
Pablo Piovano / FX Street   |   Wed, 6 Jul 2016 05:47:10

Tough love from bank bosses - Just be glad you have a job

More cuts could be on the way.
Here Is The City   |   Wed, 6 Jul 2016 05:22:10

Monetary policy takes over as driver of GBP weakness - Goldman Sachs

Research Team at Goldman Sachs, suggests that following the Brexit surprise, they revised their Sterling forecasts weaker, but - amid lots of doomsday
Sandeep Kanihama / FX Street   |   Wed, 6 Jul 2016 05:21:09

Will the West Survive the Century?

"Nativism ... xenophobia or worse" is behind the triumph of Brexit and the support for Donald Trump, railed President Barack Obama in Ottawa. Obama believes that resistance to transformational change in the character and identity of countries of the West, from immigration, can only be the product of sick minds ...
Real Clear Politics   |   Wed, 6 Jul 2016 04:53:28

Case for minimum volatility shares looks robust

Equity markets post-Brexit round trip provides test for smart beta
FT   |   Wed, 6 Jul 2016 04:33:36

When democracy fails us (1)

In the British Brexit referendum, 72 per cent of the electorate voted, resulting in a four per cent majority. Now four per cent of those who voted is equivalent to 2.88 per cent of the total electorate and you need half that number to swing an election and, so, 1.44 ...
Alfred Demanuele, Marsascala / Times of Malta   |   Wed, 6 Jul 2016 04:10:08

Briefing: Conservative Backbiting; Labour Civil War; Welsh Regrets?

A member of the Conservative Party was caught on camera sharing candid comments about his colleagues seeking the party’s leadership.
Sewell Chan   |   Wed, 6 Jul 2016 04:00:00

Why are global yields plunging?

The Brexit uncertainty has led to a flight to safe havens which is causing financial market distortions, explains Wunderlich Securities' Art Hogan.
CNBC   |   Wed, 6 Jul 2016 03:56:00

EUR/USD - Losses capped by spike in EUR/GBP

Sharp rise in EUR/GBP cross in Asia is helping the EUR/USD pair avoid falling below 1.1033 (23.6% of Brexit drop). Risk-off supports USD Despite the
Omkar Godbole / FX Street   |   Wed, 6 Jul 2016 03:00:40

Aust market continues fall at noon

Continued global uncertainty over the impact of Brexit has weighed on overnight trade driving the Australian market down by 1.34 per cent at noon.
SMH   |   Wed, 6 Jul 2016 02:36:24

Yahoo Finance Editor-In-Chief Is Sad: "We're Suffering The Consequences Of Too Much Democracy"

Following James Traub's rebuttal of the democratic rights of "we, the people" in favor of allowing "they, the elite" to ensure the average joe doesn't run with scissors, "It's time for the elites to rise up against the ignorant masses." The Brexit has laid bare the political schism of our ...
Zero Hedge   |   Wed, 6 Jul 2016 01:25:00

The Worst is Yet to Come--Don't be Seduced by the Price Action

After plummeting 18.6 cents, mostly in a few hours after it became clear that the Brexit would carry the day, sterling has rallied four cents from the low set on Monday. We recognized that the magnitude of the drop left sterling technically over-extended, but we caution against suggests that the ...
Marc to Market   |   Wed, 6 Jul 2016 01:22:56

Wigan’s Road to Anger, Loss and Class Resentments

The Labour-dominated city voted to jolt elites in London as well as in Brussels into restoring a lost world of secure jobs and communities.
ANDREW HIGGINS / NY Times   |   Wed, 6 Jul 2016 00:57:48

Branson And May Meet As Tycoon Demands New Poll

The Tory leadership front runner met Sir Richard last week to discuss his fears for the UK's post-Brexit economy, Sky News learns.
Sky   |   Wed, 6 Jul 2016 00:45:34

Low-Yield Blues? Corporate Bonds Are the Last Ones Paying

With bond yields around the world falling further in the wake of Brexit, U.S. corporate bonds are the only game left in town.
WSJ   |   Wed, 6 Jul 2016 00:43:49

'An Accelerating Process of Unraveling'?

Agree or disagree (I frequently do both) with what he has to say, the British philosopher John Gray is almost always worth reading. This New Statesman article on, so to speak, the tectonic shifts underlying Britain's Brexit vote is no exception (and it's worth reading in conjunction with the Ross ...
National Review   |   Tue, 5 Jul 2016 23:28:40

Filings Show Big Investors Taking Advantage Of Dip In Stocks

The Brexit unknowns continue to dominate the market focus today. But by Friday, believe it or not, it may move down the list on the daily market narratives. We get the jobs numbers this Friday. Last month's payroll number was a big negative surprise, coming in at just 38k new ...
Bryan Rich, Contributor / Forbes   |   Tue, 5 Jul 2016 23:02:00

Quoted

"I'm supposed to be the grown up and that's kind of hard for me, I like being the kid," -Althea Sherwood, a Ben & Jerry's employee, on trying to relate to younger employees. "The Brexit vote has shown not only that the people of Texas should become an independent nation, ...
Tyler Parker / The Atlantic   |   Tue, 5 Jul 2016 23:00:00

When Volatility Spikes: Hedge Your Global Bonds

When Volatility Spikes: Hedge Your Global Bonds by Scott DiMaggio & Alison Martier, Alliance Bernstein Savvy global core bond investors-those who invest in bonds as an offset to risk assets-came into Brexit currency-hedged. It paid off. During the flight to [...]
Value Walk   |   Tue, 5 Jul 2016 22:55:39

Is Hillary Clinton Too Big to Indict?

By Bill Blum The system is rigged. Like the Wall Street banks that were bailed out because they were too big to fail, the presumptive Democratic presidential nominee is too big to punish. Related Entries July 5, 2016 How Brexit Will Impact U.S. Foreign Policy July 5, 2016 FBI Declares ...
truthdig   |   Tue, 5 Jul 2016 22:45:24

Bad Debt Piled in Italian Banks Looms as Next Crisis

The Brexit vote has compounded strains in a banking system burdened by sour loans.
WSJ   |   Tue, 5 Jul 2016 22:24:52

What To Watch In Walgreens Q3 Results

lgreens Boots Alliance is due to report quarterly results Wednesday, and investors will be looking for updates on a pending merger, the pharmacy chain's cost-saving efforts and any early read on the currency fallout from the Brexit.
Shreya Agarwal, Forbes Staff / Forbes   |   Tue, 5 Jul 2016 22:14:00

ETF Investors Jumped Into Gold, Value Plays Over June

In a month dominated by speculation over Brexit vote, exchange traded fund flows over June revealed that investors hedged riskier equity bets with gold and low volatility options. Gold ETFs have been the shining asset category of the year and June inflows showed that the precious metal still held a ...
ETF Trends   |   Tue, 5 Jul 2016 22:06:41

How to beat Wall Street analysts at their own earnings game

In the past few months, I have received a lot of feedback and criticism over my use of forward 12-month EPS estimates, such as the chart below that appeared in last weekend`s post (see Brexit panic: A gift from the market gods?). I would like to clarify why this form ...
Humble Student of the Markets   |   Tue, 5 Jul 2016 21:00:00

TREASURIES-U.S. benchmark, long-dated yields hit record lows on global uncertainty

* 10-yr yield hits record low of 1.357 pct * 30-yr yield hits record low of 2.131 pct * UK unveils stimulus measures in wake of Brexit vote * Fed rate hike seen on hold through 2017 ...
Reuters   |   Tue, 5 Jul 2016 20:59:48

!!!

Subtitle: Brexit!!! Silver!!! Bonds!!! Deflation!!! It's a funny title for a segment, but it is appropriate. I don't want to be too flippant with dismissals of inflammatory market events like 'Brexit' as simply hype. There is very real macro fundamental shifting going on behind the hype. But in market management, ...
Tim Knight   |   Tue, 5 Jul 2016 20:58:53

3 market titans on investing

CNBC's Kelly Evans was joined by Larry Fink, Paul Singer and David Rubenstein to discuss investment outlook and market approach.
CNBC   |   Tue, 5 Jul 2016 20:58:00

Roundup: A renowned filmmaker passes, the art world's 'Brexit' cluelessness, George Lucas eyes San Francisco

An influential Iranian filmmaker has died. How the art world gets "Brexit" all wrong. And helpful advice for George Lucas on how he might actually get his museum of narrative art built. Plus, President Obama's library architects, the Orange County Museum of Art moves forward with move plans and...
Carolina A. Miranda / LA Times   |   Tue, 5 Jul 2016 20:40:00

Citi trims Apple earnings estimates

Citi analysts cut their estimates for Apple earnings, citing Brexit-related macroeconomic uncertainty as one of their reasons.
CNBC   |   Tue, 5 Jul 2016 20:23:00

SP 500 and NDX Futures Daily Charts - Minor Swing

Stocks were in a bit of a slump today, understandable after the sharp run up in the post-Brexit surge of devil-may-care confidence by the ubermenschen. So, all in all, just a minor swing, a brief setback in the technocracies plans to rule them all with the one ring of neoliberal ...
Jesse's Café Américain   |   Tue, 5 Jul 2016 20:15:00

Nigel Farage Bows Out

Another day, another resignation.This time, it's Nigel Farage, the leader of the U.K. Independence Party, who has taken the back door out. It is the sunset of a political career that was full of ups and downs and plenty of uncertainty before it culminated in the greatest of victories: the ...
National Review   |   Tue, 5 Jul 2016 20:05:01

Banks Battered As Bond Yields 'Comey-kaze' Dive To Record Lows

Seemed appropriate for today... Bullion and bonds continue to dramatically outperform post-Brexit... Following the best week for stocks in two years, having failed to reach the pre-Brexit highs, stocks rolled over today led by Trannies and Small Caps... Post-Brexit Trannies and Small Caps are also the biggest losers... Futures show ...
Zero Hedge   |   Tue, 5 Jul 2016 20:04:19

US Treasury yields slide to record lows

Renewed Brexit concerns drive pound lower
FT   |   Tue, 5 Jul 2016 20:04:13

D Börse eyes dual holding after LSE merger

German exchange seeks to allay political fears over post-Brexit London HQ
FT   |   Tue, 5 Jul 2016 19:43:06

With CETA in peril, Canadian business needs to rally behind Ottawa

The Canada deal is seen as a test run for how the EU will deal with Brexit and other fallout from the British referendum that sent shock waves through global financial markets
OMAR ALLAM / Globe and Mail   |   Tue, 5 Jul 2016 19:42:36

Trump, Brexit and the Dueling Narratives That Will Determine Our Future

We are only halfway through 2016 and it has already become a year in which politics in the U.S. and United Kingdom has thrown serious doubt about what the future will look like. In the U.S. Presidential race, Senator Bernie Sanders and Donald Trump have represented in very different ways, ...
Simon Mainwaring, Contributor / Forbes   |   Tue, 5 Jul 2016 19:37:00

Bad Debt Piled in Italian Banks Looms as Next Crisis

The Brexit vote has compounded strains in a banking system burdened by sour loans.
WSJ   |   Tue, 5 Jul 2016 19:12:56

Low-Yield Blues? Corporate Bonds Are the Last Ones Paying

With bond yields around the world falling further in the wake of Brexit, U.S. corporate bonds are the only game left in town.
WSJ   |   Tue, 5 Jul 2016 19:09:57

Sainsbury's says 600 jobs could go in Home Retail Group takeover

Supermarket chain reveals implications of £1.4bn deal to merge with Argos owner in document that warns of the potential post-Brexit risks to UK economy Sainsbury's has warned that up to 600 head office jobs are at risk in its £1.4bn takeover of Argos owner Home Retail Group, but promised the ...
Zoe Wood / Guardian   |   Tue, 5 Jul 2016 19:07:25

Airlines: A Brexistential Crisis?

Global growth concerns are back thanks to Brexit--and they're walloping shares of United Continental ( UAL ), American Airlines ( AAL ), and Delta Air Lines ( DAL ), who do plenty of business overseas. It didn't help that Delta said its passenger revenue per available seat mile, or PRASM, ...
Stocks To Watch   |   Tue, 5 Jul 2016 18:50:55

Netflix, Inc. (NFLX) Downgraded By One Firm, Added To Best Ideas By Another

Netflix, Inc. (NASDAQ:NFLX) was on the receiving end of two opposite analyst reports on Monday as one analyst downgraded it while another had high praise. Needham analysts are concerned about threats to the company's international expansion efforts due to Brexit, [...]
Value Walk   |   Tue, 5 Jul 2016 18:41:36

Brexit crisis: Pound hits $1.30, property funds frozen, and Bank of England eases capital rules

Pound plunges to new 31-year low as property funds refuse to let investors withdraw money after a rush of post-Brexit redemption requests Get experimental mobile alerts for the June US jobs report this Friday Pound crashes to $1.3000 M&G freezes fund Aviva suspends property redemptions Q&A: Property freeze explained Summary: ...
Graeme Wearden / Guardian   |   Tue, 5 Jul 2016 17:29:20

UK should have no truck with xenophobia

The post-Brexit upsurge in hate crime must be stamped on
FT   |   Tue, 5 Jul 2016 17:23:54

Briefing: Conservative Backbiting; Labour Civil War; Welsh Regrets?

A member of the Conservative Party was caught on camera sharing candid comments about his colleagues seeking the party’s leadership.
SEWELL CHAN / NY Times   |   Tue, 5 Jul 2016 17:17:27

The U.K. Can't Block Immigration If It Wants To Keep Its Finance Industry

The Brexit vote will force the next U.K. prime minister to make a significant choice: Whether to control immigration into the country, or preserve the pre-eminence of the country's financial center, known as the City of London. Doing both appears ...
IGM Forum   |   Tue, 5 Jul 2016 17:04:10

Out-Leaving UKIP

We can guess where Farage would stand on this if he didn't have a German wife.Nigel Farage, the outgoing Ukip leader, has been on LBC this morning. He has joined the large chorus of Brexit politicians (and remain ones too) criticising Theresa May for refusing to promise EU nationals living ...
Eschaton   |   Tue, 5 Jul 2016 17:00:00

The U.K. Can't Block Immigration If It Wants To Keep Its Finance Industry

The Brexit vote will force the next U.K. prime minister to make a significant choice: Whether to control immigration into the country, or preserve the pre-eminence of the country's financial center, known as the City of London. Doing both appears to be infeasible. That's because membership in the European Union, ...
Anil Kashyap / FiveThirtyEight   |   Tue, 5 Jul 2016 16:30:14

Good & bad news for US banks: Analyst

Will Brexit trigger the next financial crisis? Mike Mayo, CLSA Bank Analyst, weighs in on the financial sector and shares his play on banks.
CNBC   |   Tue, 5 Jul 2016 16:28:00

Cable Crashes To 1.3000 - Lowest In 31 Years

The British Pound is now down almost 14% from pre-Brexit spike highs at 1.5018, crashing to 1.3000 for the first time since June 1985...
Zero Hedge   |   Tue, 5 Jul 2016 16:19:05

Aviva, M&G and SLI suspend trading on flagship property funds

M&G has joined Standard Life Investments and Aviva in suspending trading on its property fund in order to meet redemptions, amid a post-Brexit rush to exit the asset class.
Professional Pensions   |   Tue, 5 Jul 2016 16:18:00

UK MBS ticks on despite red flags from policymakers

Warnings from policymakers over the impact of a Brexit on the UK property sector failed to throw off the recovery in UK mortgage-backed spreads on Tuesday.
IFR   |   Tue, 5 Jul 2016 16:15:00

Onward Toward Bullion Bank Collapse - UPDATED

Since writing this report on June 25, The Banks have surged total Comex gold open interest by another 22,000 contracts or 3.5%, all in a desperate attempt to contain the "price" of gold below the post-Brexit highs. read more
TF Metals Report   |   Tue, 5 Jul 2016 16:14:24

Aviva's The Second Property Fund To Suspend Withdrawals - Time To Look At That Liquidity Mismatch

As I mentioned this morning Standard Life has had to suspend withdrawals from one of its property funds in the wake of the Brexit vote. We're now seeing the same problem afflict another such fund, this one run by Aviva Investors. The problem here is akin to that problem that ...
Tim Worstall, Contributor / Forbes   |   Tue, 5 Jul 2016 16:12:00

Saxo Fears "Cascading Implosion" As Italian Bank Collapse Continues

While the picture is a little more mixed today in Italian banks, as it appears investors are picking winners and losers rather than just broadly dumping it all, Monte Paschi is a standout disaster. Having crashed 45% since Brexit and with CDS implying a 40%-plus probability of default, the major ...
Zero Hedge   |   Tue, 5 Jul 2016 16:00:48

EU migrants: We're not Brexit 'bargaining chips'

Millions of EU citizens living in the U.K. are angry that the British government still hasn't confirmed they'll be able to stay once Brexit happens.
CNN   |   Tue, 5 Jul 2016 15:51:40

The Media's Incessant Barrage of Evidence-Free Accusations Against Russia

James Carden In one month, its government has been accused of hacking the DNC, orchestrating the Brexit, tacitly supporting Trump, and more.
The Nation   |   Tue, 5 Jul 2016 15:39:17

US Treasury Yields Crash To New Record Lows

With Swiss rates negative to 50 years, the buying panic in US Treasury bonds continues, sending 10Y rates to 1.3666% - a new record low. As yields have collapsed post-Brexit...
Zero Hedge   |   Tue, 5 Jul 2016 15:14:19

Analysts Project 10% Increase For S&P 500 Over Next Year

Analysts Project 10% Increase For S&P Over Next Year by John Butters, FactSet Following a drop in price of 5.3% (to 2000.54 from 2113.32) during the two trading days after the "Brexit" vote, the S&P 500 index recorded an increase [...]
Value Walk   |   Tue, 5 Jul 2016 15:11:20

What Happens Next?

Dow futures are now down 200 points from the post-Brexit highs. Having failed to take out pre-Brexit levels, stocks are starting to catch down to fresh record low Treasury yields... What happens next?
Zero Hedge   |   Tue, 5 Jul 2016 15:02:03

LSR UK Outlook Q2

Brexit introduces considerable demand uncertainty Enough to produce a recession during H2 2016 Lost GDP may not be recovered, but growth likely to return in 2017
Lombard Street Research   |   Tue, 5 Jul 2016 15:01:58

A.M. Funds Roundup: Redemptions Suspended in Two U.K. Property Funds

Links to the best reading in funds investing: Oh boy... Standard Life Investments suspended redemptions in its UK Retail property fund in the way of heavy post-Brexit withdrawals - Economist And Aviva Investors also suspended redemptions in its property trust - The Wall Street Journal A closer look at trend-following ...
Focus on Funds   |   Tue, 5 Jul 2016 15:00:11

Apple: Citi Cuts Estimates, but Sees 2017 as Something to Look Forward to

Shares of Apple ( AAPL ) are down $1.04, or 1%, a5 $94.85, after Citigroup 's Jim Suva this morning cut estimates for the company for sales of the current iPhone lineup, arguing both Brexit -induced macroeconomic uncertainty, and the lengthening of the replacement cycle, will hurt the company. Suva ...
Eric Savitz   |   Tue, 5 Jul 2016 14:59:36

Watch: Johnson, Farage are who 'abandon ship': Juncker

Boris Johnson and Nigel Farage were mocked as the "sad heroes of Brexit" and in a blistering speech by EU Commission President Jean-Claude Juncker today. "Yesterday's shining heroes of Brexit have become the sorrowful heroes of today," Mr Juncker told the European Parliament. "They are retro-nationalists, not patriots. Patriots don't ...
Times of Malta   |   Tue, 5 Jul 2016 14:51:00

The collapse of the monetary system as we know it will push gold to $4,200

Here's a bold call. After the post-Brexit, face-ripping comeback in gold prices, Christopher Wood at CLSA believes that the precious metal is set up to more than triple in price. Since the start of 2016 gold bullion has gained 24.6%, said Wood who has been high on gold for some ...
Business Insider   |   Tue, 5 Jul 2016 14:46:06

Something Interesting From The Rumor Bag: The Next Big Risk For UK Stocks?

An interesting "tip" in our mailbox today in the aftermath of the first of Standard Life and less than a day later, Aviva property funds, providing some intriguing perspectives on what UK asset managers are doing in light of the spike in post-Brexit confusion, the jump in volatility, and the ...
Zero Hedge   |   Tue, 5 Jul 2016 14:43:08

Citi trims Apple earnings estimates

Citi analysts cut their estimates for Apple earnings, citing Brexit-related macroeconomic uncertainty as one of their reasons.
CNBC   |   Tue, 5 Jul 2016 14:42:00

This is going to be a long complex divorce: Pro

With the Bank of England issuing new economic warnings post-Brexit today, Tim Adams, CEO of the Institute of International Finance weighs in on the long-term risks to the U.S. and global .
CNBC   |   Tue, 5 Jul 2016 14:32:00

Jefferies Makes Major Change to Franchise Picks Stock Portfolio

Solid dividend-paying stocks make sense for the rest of this year. While it looks like the stress from the Brexit vote is over for the time being, other factors like the political conventions could... BA PFE T 247lee Pfizer
24/7 Wall St.   |   Tue, 5 Jul 2016 14:25:08

Commercial property fund freeze - all you need to know

Standard Life and Aviva have suspended trading in nearly £5bn worth of funds following the Brexit vote. Should we be worried? Commercial property funds have emerged as a weak link in the financial sector in the wake of the Brexit vote. Two funds have been suspended in successive days and ...
Jill Treanor / Guardian   |   Tue, 5 Jul 2016 14:17:50

Are the Brits Crazy or Just Pissed Off and Unheard Till Now?

An abridged history of the racial and economic tensions that led to Brexit. "If you've got money, you vote in. If you haven't got money, you vote out." -Manchester working-class woman EU FOR DUMMIES LIKE ME: The European Union was invented by France and Germany, who wanted to ensure their ...
AlterNet   |   Tue, 5 Jul 2016 14:11:00

Backtesting Broken Resistance As Support

ES has been retracing somewhat overnight on Brexit fears and I understand that China's debt to GDP ratio is now in the 250% ratio, which is roughly 50% more than Greece but still significantly behind the world leaders in insanely reckless fiscal policy Japan. Given that everyone knows nowadays though ...
Tim Knight   |   Tue, 5 Jul 2016 14:10:18

Relax, It's Just Routine Explosive Material in a Bag!

I'm back, after a quiet week of Brexit fallout, a terrorist attack in Istanbul, terrorist attack in Saudi Arabia, a terrorist attack in Bangladesh, a bunch of huge Supreme Court decisions, Hillary's interview by the FBI, and Donald Trump's infamous "sheriff's star" tweet. Slow week!Relax, It's Just Routine Explosive Material ...
National Review   |   Tue, 5 Jul 2016 14:02:07

GBP Falls to 31 Year Low After Weak Service PMI

Sterling tumbled to a 31-year low against the dollar and oil dropped below $50 a barrel as concerns deepened over the impact of Brexit on the UK economy. Fears that a collapse in demand for new construction projects will panic spooked investors, depressing shares in housebuilders and property companies. Although ...
OANDA   |   Tue, 5 Jul 2016 13:59:59

Boris Johnson backs 'Brexiteer' Andrea Leadsom in Tory race

LONDON (AP) - Former London Mayor Boris Johnson threw his support Tuesday behind one of the least-known Conservative Party leadership contenders - Energy Minister Andrea Leadsom - as the race to be Britain's next prime minister heats up in the tumultuous aftermath of its decision to leave the European Union.
Associated Press   |   Tue, 5 Jul 2016 13:52:08

GBP/USD plunges below 1.3100 handle to fresh 31-year low

The post-Brexit global risk-aversion make a remarkable comeback with the GBP/USD pair sinking below 1.3100 handle to touch its weakest level since 198
Haresh Menghani / FX Street   |   Tue, 5 Jul 2016 13:38:25

Gold inter-markets: upside intact around 2-year tops

The troy ounce of the precious metal keeps the upper end of the recent range so far, trading below 2-year highs recorded post-'Brexit' vote just above
Pablo Piovano / FX Street   |   Tue, 5 Jul 2016 13:25:56

Kicking off the market week

Kenneth Polcari, Director of O'Neil Securities weighs in on the market, Brexit, banks and earnings.
CNBC   |   Tue, 5 Jul 2016 13:22:00

Morning Movers: Tesla Tanks on Delivery Miss; Rowan Sinks

Stocks look set for a lower open as last week's post-Brexit rally fades. Peter J. Smith for The Wall Street Journal S&P 500 futures have dropped 0.7%, while Dow Jones Industrial Average futures have declined 0.6%. Nasdaq Composite futures have fallen 0.7%. Tesla Motors (TSLA) has dropped 3.4% to $209.25 ...
Stocks To Watch   |   Tue, 5 Jul 2016 13:01:29

How to Defend Your Portfolio With Utilities

Investors worried about Brexit should consider utility stocks' performance and income.
Kira Brecht / U.S. News   |   Tue, 5 Jul 2016 13:00:00

Globalisation is dented but not doomed

Brexit is part of a growing backlash but economic theory suggests globalisation can work for all if its winners compensate its losers The United Kingdom's narrow vote to leave the European Union had specific British causes. And yet it is also the proverbial canary in the coalmine, signalling a broad ...
Nouriel Roubini / Guardian   |   Tue, 5 Jul 2016 12:46:55

Bonddad Monday Linkfest

BOE's Carney on Brexit; Release of New Financial Stability Report (BOE)It is now more likely that adjustments in commercial real estate could tighten credit conditions for UK businesses. Foreign flows of capital into commercial real estate fell 50% in the first quarter of 2016, transaction volumes have fallen further during ...
Bonddad Blog   |   Tue, 5 Jul 2016 12:06:00

Tom Lee: Investors are confused

A majority of investors are puzzled after the Brexit vote, but Fundstrat's Tom Lee says this may not be a bad thing.
CNBC   |   Tue, 5 Jul 2016 12:03:00

10 Tuesday AM Reads

My two-for-Tuesday morning train reads: • The Myth Of Private Equity And Venture Capital Outperformance (ValueWalk) see also Hedge Funds Set for Worst First Half Since '11 on Turmoil (Bloomberg) • Emerging Markets Rise 5% in First Half of 2016 (Barron's) • Brexit Accelerates the British Pound's 100 Years of ...
The Big Picture   |   Tue, 5 Jul 2016 12:00:35

The 'Brexit' crisis from the ground up: Will Britain leave Europe - and should it?

Nearly two weeks after a majority of Britons voted to split from the European Union, some consequences of "Brexit" are becoming clear. Clear as mud. All that has come into focus since the June 23 referendum are the issues that must be resolved, now that the people ostensibly have spoken. ...
Michael Hiltzik / LA Times   |   Tue, 5 Jul 2016 12:00:00

Trending: Carney's up again, housebuilders suffer and the BHS saga drags on

The Bank of England has said that Brexit risks are beginning to as it eased special capital requirements to help lubricate the financial system. The move should, in theory, help to free up £150bln for banks to lend to businesses and consumers, the BoE's Financial Policy Committee (FCP) said. "Three ...
Proactive Investors   |   Tue, 5 Jul 2016 11:47:00

Frontrunning: July 5

Pound Tumbles to 31-Year Low as Its Post-Brexit Selloff Resumes (BBG) Bad Debt Piled in Italian Banks Looms as Next Crisis (WSJ) Stock Market to Bond Market: 'La-La-La I Can't Hear You' (WSJ) A Prime Minister, a Referendum and Italy's Turn to Get Worried (BBG) Brexit Vote Paralyzes Companies Across ...
Zero Hedge   |   Tue, 5 Jul 2016 11:40:55

Stock futures lower amid global growth worries

By Yashaswini Swamynathan (Reuters) - U.S. stock index futures were lower on Tuesday, tracking a decline in oil prices, as investors shifted their attention to global growth worries post Brexit. * Data from China showed that the country's services sector activity rose to an 11-month high in June, but a ...
Business Insider   |   Tue, 5 Jul 2016 11:32:15

Tory leadership contest: Betting odds and poll predictions on who is favourite to become Prime Minister

Daniel Dunford / Telegraph   |   Tue, 5 Jul 2016 11:23:44

A REIT liquidity mismatch

Take one portfolio of illiquid building things, stir in some financial magic, liquidise, then bake for a few years in a market exposed to UKIP risk. Once Brexited remove carefully from the baking dish in the hope of not disturbing the liquid layer. It's probably ready, even if the surface ...
FT Alphaville   |   Tue, 5 Jul 2016 11:18:08

CARNEY: 'We have a clear plan and it is working'

Bank of England governor Mark Carney once again moved to soothe the markets and British households at a press conference on Tuesday, stressing that the Bank is doing everything it can to ensure stability. "We're doing our job so that the British people can do theirs," he said. Markets around ...
Business Insider   |   Tue, 5 Jul 2016 11:15:31

USD/JPY sinks to 101.75 on global risk-aversion

The USD/JPY pair remained well offered and extended its slide further below 102.00 handle towards post-Brexit lows to currently trade around 10-pips o
Haresh Menghani / FX Street   |   Tue, 5 Jul 2016 11:14:15

Morning News: July 5, 2016

Bank of England Eases Rules for Banks to Meet Brexit Challenge ECB's Angeloni Sees Trade-off Between Competition, Stability in Banking Switzerland Orders UBS to Hand [...]
Eddy Elfenbein   |   Tue, 5 Jul 2016 11:05:57

Branson And May Meet As Tycoon Demands New Poll

The Tory leadership frontrunner met Sir Richard last week to discuss his fears for the UK's post-Brexit economy, Sky News learns.
Sky   |   Tue, 5 Jul 2016 11:02:09

Clinton foreign policy record alarms...

Must-Read Op-Eds: The Morning Joe panel discusses the fallout from the Brexit vote and Hillary Clinton's record on foreign policy.
MSNBC   |   Tue, 5 Jul 2016 10:43:44

BBC News: Consumers warned on high debt levels as bank regulations eased

The change in rhetoric coming from the B of E almost makes it sound as if they are going to let us go into recession and then blame it on the Brexit vote!
House Price Crash   |   Tue, 5 Jul 2016 10:24:41

The Pounds Relief Rally is Officially Over

Tuesday July 5: Five things the markets are talking about Post Brexit jitters this morning has returned to hurt the pound, putting an end to last week's relief rally, and push sterling to a new two-and-a-half year low against the EUR. Today's instigators are the news of Standard Life Investments ...
OANDA   |   Tue, 5 Jul 2016 10:11:16

Housing Affordability - A Dose of Reality

Restless Peasants First, a few quick words on Brexit. Being the always positive and optimistic person that I am (big grin), I see one very positive outcome of Brexit - it is a revolution without bloodshed. The peasants are getting restless... Illustration via squadron.com For once, I'm not digressing. Brexit ...
Acting Man   |   Tue, 5 Jul 2016 10:02:22

Tough love from bank bosses - Just be glad you have a job

More cuts could be on the way.
Here Is The City   |   Tue, 5 Jul 2016 10:00:08

U.K. referendum: Just when should the majority rule?

The Brexit referendum has raised a question for many people on the losing side: How democratic do we want to be? The post U.K. referendum: Just when should the majority rule? appeared first on The Japan Times .
Doug Bandow / Japan Times   |   Tue, 5 Jul 2016 09:59:25

UK PMI signals near-stalling of economy in June

The PMI surveys indicate that the pace of UK economic growth slowed to just 0.2% in the second quarter, losing further momentum in June as Brexit anxiety intensified.
Markit   |   Tue, 5 Jul 2016 09:56:07

Growth Slowdown Adds To Rate Cut Pressure

New figures indicate that economic growth slowed to just 0.2% in the second quarter as anxiety over a Brexit vote intensified.
Sky   |   Tue, 5 Jul 2016 09:15:49

Standard Life Property Fund Gating - Open Ended Funds Are Like Banks, Can Suffer Runs

VideoStandard Life has had to stop sales of shares in one of its UK property funds. The immediate cause is Brexit and the opinions of people as to what this means for commercial property values in Britain following the referendum. The underlying cause though is that such open ended funds ...
Tim Worstall, Contributor / Forbes   |   Tue, 5 Jul 2016 09:09:00

Will Brexit help Calais migrants enter UK?

Some influential figures in France have suggested that a deal which allows Britain to carry out immigration checks on the French side of the Channel should be scrapped, after the UK voted to leave the EU.
BBC   |   Tue, 5 Jul 2016 07:08:55

Britain is plunging towards an economic nightmare, and it isn't just because of Brexit.

On Monday morning, Markit released its latest set of data on the state of the UK's construction sector, and to say things didn't look good would be an understatement. The sector slipped into contraction for the first time since April 2013, hitting just 46.o, a shock fall from an already ...
Will Martin / Business Insider   |   Mon, 4 Jul 2016 16:29:17

The Leave campaign was toxic - but 43 years of embarrassed pro-Europeanism paved the way for Brexit

Yes, the Leave campaign was dishonest and some have argued criminally irresponsible; but are British pro-Europeans blameless, asks Eunice Goes? Political parties have for years avoided any discussion on the positive aspects of the EU, they rarely explained how the UK benefits from EU investment, all while the Eurosceptic press ...
Blog Admin / British Politics and Policy at LSE   |   Sun, 3 Jul 2016 06:00:27

"The Loss Of Central Bank Credibility Is The Biggest Tail Risk" BofA Warns Brexit Threat Remains

Despite the rapid decline in short-term risk momentum, there is no doubt in BofA's mind that the world is a riskier place following the UK's decision to leave the EU. Hence, they warn, the chances for additional critical stress events as Brexit unfolds remain high, and given the critical role ...
Tyler Durden / Zero Hedge   |   Sat, 2 Jul 2016 22:45:00

Brexit fears push back hopes of US interest rate rise to 2018

Peter Spence / Telegraph   |   Sat, 2 Jul 2016 18:56:48

The economic risks of Brexit contagion

Poll may trigger a cycle of low growth and populist policies in the west, writes Kenneth Rogoff
FT   |   Fri, 1 Jul 2016 16:55:39

Fed's Stanley Fischer Says Brexit Implications Still Being Evaluated

Federal Reserve Vice Chairman Stanley Fischer said Friday the Fed will know more by its July meeting about the implications of the so-called Brexit vote for the U.S. economy, and said those effects will be weighed against positive incoming U.S. economic data.
WSJ   |   Fri, 1 Jul 2016 15:32:43

The Macroeconomics of Brexit: Motivated Reasoning?

Sloppy thinking is always a vice.
Paul Krugman / Paul Krugman - Blog   |   Thu, 30 Jun 2016 21:04:06

Brexit talks will be stunningly complex. Who will provide the statesmanship we need?

Tony Blair / Telegraph   |   Thu, 30 Jun 2016 21:00:00

Some Traders See Emerging Markets Coming Back

A week after the U.K. vote to leave the European Union sparked a global market rout, some investors are already betting that emerging markets are on their way back.
WSJ   |   Thu, 30 Jun 2016 20:19:52

Brexit has demolished George Osborne's deficit plan. The next PM will need one of their own

Jeremy Warner / Telegraph   |   Thu, 30 Jun 2016 19:29:19

Brexit and the Idea of European Disintegration

Britain has voted to leave the European Union (EU), or more accurately, England has voted to leave. The majority in Scotland, Northern Ireland and Gibraltar voted to remain. The opinion polls, the bookies and the markets did not predict this outcome. The mood of the nation, it would seem, is ...
Aidan Regan / Irish Economy   |   Thu, 30 Jun 2016 19:26:53

Italy rescues bank after EU plea snubbed

Germany turns down Renzi's request to ease rules during Brexit turmoil
FT   |   Thu, 30 Jun 2016 15:48:23

UK looks China and India after Brexit

Prime minister calls business leaders to Number 10
FT   |   Thu, 30 Jun 2016 11:27:07

The Real Lesson From Brexit

Luigi Zingales at ProMarket: The Real Lesson From Brexit: ...What we have observed in Britain and ... in the U.S. with Trump is a growing mistrust of voters toward experts. In the Brexit debate it was hard to find any...
Mark Thoma / Economist's View   |   Wed, 29 Jun 2016 18:57:44

Brexit News Archive: 06 Jul 2016     |     enquire