Brexit News Archive: 25 Jul 2016

UPDATE 2-Pimco reducing junk bonds, other corporate debt -Ivascyn says

NEW YORK, July 25- Pimco has been reducing its exposure to junk bonds and investment-grade corporate debt following the latest credit rally, the firm's group chief investment officer, Dan Ivascyn, said on Monday. Britain's vote on June 23 to leave the European Union, known as Brexit, has compounded an uncertain ...
CNBC   |   Mon, 25 Jul 2016 21:16:00

Stephen Roach Says Trump's Right On Globalization: It's A Broken System

Authored by Stephen Roach, originally posted at Project Syndicate, While seemingly elegant in theory, globalization suffers in practice. That is the lesson of Brexit and of the rise of Donald Trump in the United States. And it also underpins the increasingly virulent anti-China backlash now sweeping the world. Those who ...
Zero Hedge   |   Mon, 25 Jul 2016 20:25:00

Are Equities Cheap Or Expensive When Compared To Bonds?

One of the topics that has dominated the post-Brexit equity market environment has been market valuation, specifically the market's valuation in relation to bond yields. A broad selection of analysts across Wall Street have weighed in on this issue, and [...]
Value Walk   |   Mon, 25 Jul 2016 19:33:48

History Tells Us What May Happen Next With Trump, Brexit And Putin

Are we heading into a period of mass destruction?This article was originally published on...
Distressed Volatility   |   Mon, 25 Jul 2016 19:27:00

Stocks Redline As Key Sentiment Metric Leaves And Enters "Mania" Phase

Ever since the unprecedented Brexit bounce in markets, underpinned by loud guarantees from central bankers around the globe that risk assets will simply not be allowed to sell off, increasingly more vocal concerns have emerged about trader complacency, culminating this morning in an article by Mohamed El-Erian titled "Calm markets ...
Zero Hedge   |   Mon, 25 Jul 2016 18:17:37

Veolia: trash talks

Brexit cannot stop the waste recycling trend begun by the EU
FT   |   Mon, 25 Jul 2016 16:43:00

Mark Carney Has Started A Revolution By Embracing Fintech And Blockchain

In the aftermath of Britain's referendum vote to leave the European Union, BREXIT's loudest advocates scurried from public view and the political establishment descended into a caustic battle for control. Emerging from the melee was Theresa May, who has a reputation for consistency, if little else. But the UK doesn't ...
Alex Tapscott, Contributor / Forbes   |   Mon, 25 Jul 2016 16:30:00

UK, EU Begin to Discuss Deal on Migrants, Trade Post-Brexit

EU Observer. Belgium.
EU Observer. Belgium. / World Affairs   |   Mon, 25 Jul 2016 15:55:46

This Is Why I Think Trump Will Win - And Brexit Showed Why

I've read tens of thousands of words about why Donald Trump won't be President - mostly written in what I suppose we should call future-hopeful tense. Surely, he can't. Really, he mustn't. Honestly, he shouldn't. But the intellectual dexterity of these highly paid and pleading columnists is nowhere near as ...
Grant Feller, Contributor / Forbes   |   Mon, 25 Jul 2016 15:55:00

Gold falls as rate hike speculation mounts

It seems we've gone back in time: gold is headed for another session of losses as the prospect of a US interest rate rise weighs on the precious metal. At the start of summer there were similar murmurings of a rate hike from the Federal Reserve although Brexit made sure ...
Proactive Investors   |   Mon, 25 Jul 2016 15:01:00

The Amerexit

Brexit is less a cause of future problems for Europe than it is a consequence of the dramatic re-ordering of the world that took place after 1990.
The American Interest   |   Mon, 25 Jul 2016 14:23:54

UK to Support Centralized Renewable Energy

What's the future of renewable energy in the UK post-Brexit? There are many variables to consider and the landscape keeps changing every day. However, an initial analysis shows offshore wind will be the biggest winner, while established technologies will have to fight it on their own.
REN   |   Mon, 25 Jul 2016 14:12:00

USD/JPY inter-markets: runs the risk of a sharp reversal if risk sentiment deteriorates

After staging a remarkable recovery of nearly 750-pips from sub-100.00 level, recovering all of the Brexit-led sharp losses, the USD/JPY pair has now
Haresh Menghani / FX Street   |   Mon, 25 Jul 2016 14:03:58

Bond Yields - Risk Of A Data Tantrum

Bond Yields - Risk Of A Data Tantrum by RichardsonGMP Contributors: Craig Basinger, CFA; Gareth Watson, CFA; Derek Benedet, CMT; Chris Kerlow, CFA; Shane Obata Everyone is keenly aware bond yields are low and moved lower following the Brexit vote. [...]
Value Walk   |   Mon, 25 Jul 2016 13:53:52

Ryanair to reduce number of flights from London Stansted airport

Dublin-based airline eyes greater expansion outside the UK amid economic uncertainty triggered by Brexit vote Ryanair is cutting the number of flights it offers from London Stansted and shifting its focus towards growth at airports outside the UK following the surprise Brexit vote in June. The Dublin-based airline said it ...
Angela Monaghan / Guardian   |   Mon, 25 Jul 2016 13:48:21

Britain's manufacturers haven't been this depressed since the financial crisis

Britain's manufacturing sector has fallen into a deep funk following the Brexit vote, figures out on Monday show. The latest Confederation of British Industry (CBI)'s Industrial Trends Survey gave a confidence reading of -47%, the lowest figure since January 2009 (-64%) when Britain was at the height of the financial ...
Business Insider   |   Mon, 25 Jul 2016 11:19:39

TAKE THIS BRITS Prime Minister To Launch Horrific Industrial Policy

So is this a ramification of Brexit? Economist reports: Theresa May, Britain's new prime minister, has certainly been bold, maybe even foolhardy, in some of her cabinet appointments. But she has been equally bold in elevating "industrial strategy" to the top of her new government's agenda-a move that could mark ...
Economic Policy Journal   |   Mon, 25 Jul 2016 10:42:00

Market briefing: US markets ended in positive territory on Friday, supported by gains in telecom sector stocks

UK Market Snapshot UK markets closed mixed on Friday. The FTSE 100 index ended higher after disappointing manufacturing and services PMIs in the UK for July fuelled speculation that the Bank of England would ease monetary policy to counter Brexit after effects. Vodafone Group climbed 4.6%, after it posted upbeat ...
Proactive Investors   |   Mon, 25 Jul 2016 07:25:00

USDJPY: Technical factors constructive and another attempt at 107.50 area likely - BBH

Research Team at BBH, notes that the dollar pushed higher against the yen and surpassed the JPY106.85 pre-Brexit high before reversing sharply (key re
Sandeep Kanihama / FX Street   |   Mon, 25 Jul 2016 07:23:02

Beaufort Securities Breakfast Alert: Big Yellow, CRH, Vodafone

Markets Europe The FTSE-100 finished Friday's session 0.46% higher at 6,730.48, whilst the FTSE AIM All-Share index closed 0.26% better-off at 740.22. In continental Europe, markets ended mixed after the release of weak economic data in the region. Investors remained concerned over the Eurozone's economic growth after Brexit. France's CAC ...
Proactive Investors   |   Mon, 25 Jul 2016 07:17:00

Io, Saturnalia!

Ah, Brexit! What is there left to say that not already been said, most of it either out of folly or falsehood? As regards the...
Cobden Centre   |   Mon, 25 Jul 2016 07:15:42

Plentiful event risk into month end

FTSE 100 called to open +5pts at 6735, amid its post-Brexit uptrend, with an overnight test of 6750 keeping Bulls optimistic about the potential for 7122 all-time highs to be revisited. Rising lows support remains valid at 6700, the floor of a 2-month rising channel that began mid-May and resumed ...
Proactive Investors   |   Mon, 25 Jul 2016 07:11:00

Ryanair Posts 4% Profit Rises, Sticks With Forecasts

Ryanair stuck to its earnings target for the year after first-quarter profit rose 4%-bucking a trend for European carriers, whose earnings have been hit by shocks including terrorist attacks, air-traffic-control strikes and Brexit.
WSJ   |   Mon, 25 Jul 2016 05:52:12

Further reading

Elsewhere on Monday, - Bill McBride: The future is still bright! - You break it, you pay for it, Brexit edition. - John Lanchester on Brexit: "One of the things you notice, travelling around the country talking to people about economics, is that young people in particular feel they are ...
FT Alphaville   |   Mon, 25 Jul 2016 05:33:57

Petrobras at risk as Brazil's endless crisis deepens

The figure of Christo Redentore above Rio's Maracana stadium, where the Olympics will open © Getty Images With so much attention focused on the questions of Brexit and the American presidential election it is miss the problems of other parts of the world. Latin America is a prime example of ...
Nick Butler   |   Mon, 25 Jul 2016 04:30:02

Down With Élites!

"I love the poorly educated," Donald Trump said during a victory speech in February, and he has repeatedly taken aim at America's élites and their "false song of globalism." Voters in Britain, heeding Brexit campaigners' calls to "take back control" of a country ostensibly threatened by uncontrolled immigration, "unelected élites," ...
New Yorker   |   Mon, 25 Jul 2016 04:00:00

USD/JPY comes down to test 5-DMA

Having spiked to levels seen pre-Brexit, the USD/JPY pair is now seen easing-off daily tops as the yen demand picks-up pace as markets digest upbeat J
Dhwani Mehta / FX Street   |   Mon, 25 Jul 2016 02:52:04

Asian shares near nine-month peak, dollar shines

Asian shares held near nine-month highs on Monday as worries over the impact of Britain's Brexit vote eased amid efforts to maintain growth, while the dollar was buoyed by a run of solid U.S. economic data
Hideyuki Sano / Globe and Mail   |   Mon, 25 Jul 2016 01:07:14

Asian shares near nine-month peak, dollar shines

By Hideyuki Sano TOKYO (Reuters) - Asian shares held near nine-month highs on Monday as worries over the impact of Britain's Brexit vote eased amid efforts to maintain growth, while the dollar was buoyed by a run of solid U.S. economic data. Policy makers from the Group of 20 countries ...
Business Insider   |   Mon, 25 Jul 2016 00:54:01

What's driving the dollar to four-month highs?

Westpac Bank Global Head of FX Strategy Robert Rennie says strong economic data and limited Brexit impact have pushed the dollar higher.
CNBC   |   Mon, 25 Jul 2016 00:13:00

Veolia gives UK £750m vote of confidence

Post-Brexit boost as French services group plans 600 jobs and investment drive
FT   |   Sun, 24 Jul 2016 23:00:03

Sset steady above 1,500 in mixed week for equities

Recap: US stocks closed out their fourth straight week of gains but European markets were mostly flat, amid concerns ranging from Brexit to the future of Turkey following a failed coup attempt. Japan slid back amid indications that central bank stimulus might not be as aggressive as traders had hoped ...
Bangkok Post   |   Sun, 24 Jul 2016 21:30:00

Mittelbewegungen in der europäischen ETF-Industrie im Juni 2016

Vor dem Hintergrund des möglicherweise bevorstehenden Brexits hat sich die Volatilität an den europäischen Aktienmärkten im Juni erhöht. Dies führte in der Folge dazu, dass die europäische Fondsindustrie insgesamt Mittelabflüsse
Alpha Now   |   Sun, 24 Jul 2016 20:17:12

Meb Faber: Playing Defense Against Black Swans

Meb Faber: Playing Defense Against Black Swans Episode #7: Playing Defense Against Black Swans Guest: Episode #7 has no guest, but is co-hosted by Meb's co-worker, Jeff Remsburg. Date: 7/7/16 Run-Time: 30:10 Topics: With Brexit rattling the markets recently, it's [...]
Value Walk   |   Sun, 24 Jul 2016 17:59:31

Worries Dominate Meeting of Finance Ministers

Ministers from the Group of 20 major economies said they would use “all policy tools” to sustain growth in the wake of Britain’s vote.
REUTERS / NY Times   |   Sun, 24 Jul 2016 16:40:45

Is the Wall of Worry Becoming Vertical?

The melt-up, and break-out, in the U.S. stock market recently is a classic case of the market once again climbing the wall of worry in a convincing fashion. Political and economic uncertainty has surged. Trump is now real contender, the Brexit limbo persists, Italian banks are on the brink, and ...
Alpha.Sources   |   Sun, 24 Jul 2016 16:32:06

Italian finance minister rejects banks bail-in

Padoan denies 'systemic' banking problem on sidelines of G20, where finance ministers unite over Brexit
FT   |   Sun, 24 Jul 2016 16:03:01

UK banks prepare response to expected interest rate cut

Lloyds among high street operators facing pressures sparked by Brexit vote, which could lead to further job cuts and closures High street banks are preparing to set out how they will respond to the interest rate cuts likely to be sparked by the Brexit vote, amid expectations it could pressure ...
Jill Treanor / Guardian   |   Sun, 24 Jul 2016 15:43:24

G-20 to use 'all policy tools' to boost growth

Brexit impact dominates the G-20 discussions in China, with policymakers focusing on lifting weak global growth. The G-20 also acknowledges that benefits of growth need to be better shared
Hurriyet   |   Sun, 24 Jul 2016 15:11:00

Top Dow Earnings for the Week Ahead

Overall, one-third of the Dow Jones Industrial Average is reporting this week, and this has the potential to sustain the run that the Dow has made since the Brexit vote. AAPL BA CAT CVX DD KO MCD MRK VZ XOM 247chrislange
24/7 Wall St.   |   Sun, 24 Jul 2016 14:50:51

FTAs easier said than done

The Britons who pushed for Brexit misled voters by telling them that free trade was an easy and speedy option. The post FTAs easier said than done appeared first on The Japan Times .
Hugh Cortazzi / Japan Times   |   Sun, 24 Jul 2016 09:21:37

Padoan rejects need for Italy banks bail-in

Italian denial of 'systemic' banking problem on sidelines of G20 where finance ministers unite over Brexit
FT   |   Sun, 24 Jul 2016 08:37:13

Could NATO unravel?

Last month it was Brexit, but could NATO be facing Amerixit or even Turkxit?
CNN   |   Sun, 24 Jul 2016 08:36:48

Ross Douthat's Rich Person "Free Trade" Says Much About Support for Trump/Brexit

Ross Douthat inadvertently told readers much about why large segments of the public in the U.S., U.K., and Western Europe are rejecting the policies pushed by elites. In his NYT column he complained about Donald Trump's acceptance speech (which provided much ground for complaint): "That message was a long attack, ...
CEPR   |   Sun, 24 Jul 2016 05:13:57

How does England's North West view Brexit?

One month on from the Brexit vote, how divided is Britain? Newsnight's Katie Razzall assesses the mood across the North West of England.
BBC   |   Sat, 23 Jul 2016 23:29:32

Hate crime: Prosecutors told to seek tougher sentences

Prosecutors will be urged to seek tougher sentences for people committing hate crimes, following a rise in incidents in the wake of the Brexit vote in the EU referendum.
BBC   |   Sat, 23 Jul 2016 23:07:24

UK profit warnings rise to crisis highs amid Brexit uncertainty

Telegraph   |   Sat, 23 Jul 2016 23:01:00

G-20 Fears Brexit Blowback if Breaking Up Is Hard to Do

Agence France-Presse/Getty ImagesAgence France-Presse/Getty ImagesAgence France-Presse/Getty ImagesAgence France-Presse/Getty ImagesAgence France-Presse/Getty ImagesAgence France-Presse/Getty ImagesAgence France-Presse/Getty ImagesAgence France-Presse/Getty ImagesAgence France-Presse/Getty ImagesAgence France-Presse/Getty ImagesAgence France-Presse/Getty ImagesAgence France-Presse/Getty ImagesAgence France-Presse/Getty ImagesAgence France-Presse/Getty ImagesG-20 Finance Ministers Fear Brexit Blowback if Breaking Up Is Hard to Do Global finance chiefs meeting in China urged U.K. and ...
WSJ   |   Sat, 23 Jul 2016 22:54:52

"If You Can't Touch It, You Don't Own It"

Submitted by Jeff Thomas, Writer for Doug Casey's International Man and Strategic Wealth Preservation, via, The pending Brexit has, not surprisingly, caused a shakeup in the investment world, particularly in the UK. Of particular note is that, recently, asset management firms in Britain began refusing their clients the right ...
Zero Hedge   |   Sat, 23 Jul 2016 22:40:00

'Business as usual' as most Britons unconcerned by Brexit hit to their finances

Peter Spence / Telegraph   |   Sat, 23 Jul 2016 19:00:00

American and Delta See Europe As Most Troubled Market Due To Brexit, High Capacity, Falling Fares

American, Delta and United Airlines all view trans-Atlantic travel as a potential trouble spot, despite strong demand, due to rising capacity and the impact of Brexit, both leading to lower fares.
Ted Reed, Contributor / Forbes   |   Sat, 23 Jul 2016 16:44:00

'Dividend' and Conquer: Dividend-Focused Index Investing Outperforms

Note: This article is courtesy of By Nasdaq Global Information Services New Research Shows that Dividend-Focused Stocks Bring High Performance and Low Volatility As we've seen with the aftermath of the U.K.'s Brexit vote, one event can drive volatility in the markets quickly and significantly. Those who play the ...
ETF Trends   |   Sat, 23 Jul 2016 15:00:56

Cambridge's Silicon Fen shaken by the winds of change

The takeover of ARM by Japan's SoftBank has added to unease in Cambridge over the city's growing pains and the potential risks of Brexit The crown jewel of Britain's technology sector might be heading to Japan via a £24bn takeover but it seemed to be business as usual in ARM ...
Terry Macalister / Guardian   |   Sat, 23 Jul 2016 15:00:03

Big banks bullish on Brexit bounce back

When it came to the Brexit vote, Wall Street banks (and traders) assumed the worst. But they may have gotten it wrong.
CNBC   |   Sat, 23 Jul 2016 15:00:00

Daily Digest 7/23 - Retirement Dreams And Nightmares, Travel And The Zika Virus

Summer Travel And The Zika Virus Delayed, Denied, Dismissed: Failures on the FOIA Front UK economy suffered 'dramatic deterioration' after Brexit vote – Markit Retirement Dreams And Nightmares In China meeting, G20 has chance to soothe post-Brexit jitters Special K ads banned over health benefits claims Join the conversation ...
Chris Martenson   |   Sat, 23 Jul 2016 14:51:27

A hedge fund manager named his No. 1 short position, and it highlights why everyone is freaking out about Europe

Europe's banks have been having a tough time. Whether its the banking system in Italy, Portugal or the UK in the aftermath of Brexit, there's plenty to be concerned about. In an interview with Raoul Pal of Real Vision TV, Edward Misrahi, the founder and chief investment officer of RONIT ...
Matt Turner / Business Insider   |   Sat, 23 Jul 2016 13:58:02

Bill Morneau says Canadian economy to rebound this year

Canada's economy should rebound "over the course of the year" from the impact of the Fort McMurray, Alta., wildfire, Finance Minister Bill Morneau said on Saturday on the sidelines of a G20 meeting in Chengdu, China.
Reuters / CBC   |   Sat, 23 Jul 2016 12:20:58

10 Weekend Reads

The weekend is here! Pour yourself a mug of Major Dickson blend, grab a seat outside, and get ready for our longer form weekend reads • The Folly of Stock Market Forecasting (Alpha Architect) • Brexit Blues (London Review of Books) • My Investing Mentors (Irrelevant Investor) see also Investor's ...
The Big Picture   |   Sat, 23 Jul 2016 12:00:36

The UK politics podcast

Theresa May and Brexit, plus Jeremy Corbyn vs Owen Smith
FT   |   Sat, 23 Jul 2016 10:29:42

What's hot and what's not in fintech, according to a VC with $100 million to spend

Santander has given its fintech-focused venture capital firm InnoVentures another $100 million ($131 million) to invest after impressing with its initial investments. Santander InnoVentures has spent just over 50% of the $100 million initially allocated to the fund, which started out in 2014. The rest of that first tranche of ...
Business Insider   |   Sat, 23 Jul 2016 10:27:00

This man has raised over £100,000 to take pro-Brexit politicians to court for 'lying' to the public

A crowdfunding project which wants to raise £100,000 ($131,184) to take politicians who campaigned for a Brexit to court has already raised well over that amount - and there are still 10 days left for people to donate. Marcus J Ball, the founder of the #BrexitJustice campaign, set up the ...
Adam Payne / Business Insider   |   Sat, 23 Jul 2016 10:15:00

Cameron's last ditch appeal to Merkel to limit EU migration on eve of Brexit vote

Press Association / Telegraph   |   Sat, 23 Jul 2016 09:45:23

Impact of Brexit dominates G20 meeting

US focuses on shared growth as China warns it cannot single-handedly rescue the global economy
FT   |   Sat, 23 Jul 2016 09:16:59

G7 wants to see Brexit talks start as soon possible - France

CHENGDU, China, July 23 (Reuters) - Top officials from the Group of Seven rich economies want to see negotiations over Britain's exit from the European Union start as soon as possible, French finance...
Reuters   |   Sat, 23 Jul 2016 08:57:54

What Philip Hammond Should Do To Cure Britain's Post-Brexit Economic Blues And Confidence Shortfall

That Britain seems to be going through a touch of the economic jitters immediately post-Brexit is true. The Markit PMI (a measure of how much businesses think they're going to buy in the immediate future, the purchases being to produce whatever it is that they make) is down in its ...
Tim Worstall, Contributor / Forbes   |   Sat, 23 Jul 2016 08:27:00

UK unprepared for Brexit, needs more time, but shouldn't be indefinite - Sapin

CHENGDU, China, July 23 (Reuters) - Britain was unprepared for the outcome of the referendum to leave the European Union and so should be given time to respond, but it should not take too long...
Reuters   |   Sat, 23 Jul 2016 07:13:15

Why your NHS surgeon could be a robot in the future

Day-to-day interactions between humans and machines may well become commonplace in hospitals within a decade Long waiting times, staff shortages, exorbitant agency fees, doctors' working hours: it's no secret that the NHS is facing a labour crisis. Post-Brexit it could very well get worse, with the NHS Confederation now warning ...
Oliver Balch / Guardian   |   Sat, 23 Jul 2016 07:00:33

Sadiq Khan bats away the financial industry's Brexit fears at a race with 15,000 bankers

The Mayor of London Sadiq Khan used his presence at a huge annual racing event for the capital's financial sector to say "London is open for business," despite the Brexit vote causing concern over future migration rules, thereby jobs, and the impact on professional services. At the J.P.Morgan Corporate Challenge ...
Lianna Brinded / Business Insider   |   Sat, 23 Jul 2016 07:00:00

Europe to tell G20 UK economy, banks are resilient despite Brexit

CHENGDU, China, July 23 (Reuters) - Britain's vote to leave the European Union may dampen global growth, but European fundamentals are strong and the British economy and banking sector are resilient,...
Reuters   |   Sat, 23 Jul 2016 06:54:05

TaxCast on Panama Papers and Brexit

The latest Tax Justice network podcast covers some hot topics, including key journalist accounts on the Panama Papers.
Yves Smith / Naked Capitalism   |   Sat, 23 Jul 2016 06:53:40

Brexit: Cameron considered last-ditch appeal to Merkel

David Cameron made a late appeal to the German chancellor for a statement granting free movement concessions if the UK voted Remain, BBC Newsnight learns.
BBC   |   Sat, 23 Jul 2016 06:03:16

IMF calls for more government spending as rate cuts lose their impact

Global growth remains weak and risks have risen after the Brexit vote, says IMF, as it calls for more infrastructure spending The International Monetary Fund has called on G20 nations to boost government spending as the impact of ultra-low interest rates begins to reach its limits in developed countries. Central ...
Reuters / Guardian   |   Sat, 23 Jul 2016 06:02:18

It's summer! Here's how to get the best deal for your travel money

After Brexit sent sterling diving, and with the school holidays starting, we look at what cards you should use abroad and where to get cash Twelve months ago, British holidaymakers were enjoying some of the best deals on their holiday money for many years. Sterling was riding high, with £1 ...
Patrick Collinson / Guardian   |   Sat, 23 Jul 2016 05:59:32

What to watch for at the ECB meeting

Draghi set to wrestle with Brexit economic fallout, QE headaches and problems with Italian banks
FT   |   Thu, 21 Jul 2016 04:32:10

IMF cuts UK growth forecasts following Brexit vote

Predictions revised down from April as IMF says EU referendum result has 'thrown a spanner in the works' of global recovery The International Monetary Fund has slashed its forecast for UK growth next year after warning that the decision to leave the EU had damaged the British economy's short-term prospects ...
Larry Elliott Economics editor / Guardian   |   Tue, 19 Jul 2016 23:10:15

Brexit News Archive: 25 Jul 2016     |     enquire