Brexit News Archive: 02 Aug 2016

SP 500 and NDX Futures Daily Charts - Within the Range, By Hook or Crook

Stocks took a dip today, scoring the first back to back daily losses since Brexit in mid-July. Do you feel inspired, more confident? That's the whole point of this, besides the looting and bubbles. Late day buying managed to push the SP 500 futures back up into the 'trading range.' ...
Jesse's Café Américain   |   Tue, 2 Aug 2016 20:36:00

Trumpism in International Context

( Steven Hayward ) Back at the end of June, I shared the insights of French political philosopher Pierre Manent about the significance of Brexit (which he was for). Yesterday, the good folks at First Things posted a translation of a recent interview Manent gave to the Italian newspaper Il ...
Power Line   |   Tue, 2 Aug 2016 20:01:36

EUR/USD consolidates gains above 1.1200

After a pause on Monday, EUR/USD resumed the upside and rallied above 1.1200, reaching the highest level since the Brexit referendum results.
Matías Salord / FX Street   |   Tue, 2 Aug 2016 19:10:05

FOREX-Dollar slides to 6-week low as U.S. data clouds rate hike outlook

*Euro above $1.12 for first time since Brexit vote. *Broadly negative tone for dollar continues. NEW YORK, Aug 2- The dollar dropped to a six-week low against a basket of currencies on Tuesday, pressured by expectations the Federal Reserve would delay raising interest rates after recent soft U.S. economic data.
CNBC   |   Tue, 2 Aug 2016 19:00:00

Clinton, Trump And Trade: Is A 'Brexit Moment' Looming?

Linton, Trump And Trade: Is A 'Brexit Moment' Looming? Wharton's Philip Nichols discuss the U.S. presidential candidates' stances on trade. Trade issues have been a big talking point in the current presidential election campaign. Republican Party nominee Donald J. Trump [...]
Value Walk   |   Tue, 2 Aug 2016 17:41:15

There's one group you can thank for the record stock market highs

There's lots of negative news out there right now. From Brexit to China to oil to Turkey to the rise of populism, you'd think there are plenty of reasons for the stock market to fall back from record highs. And yet, the market marches on, confounding hedge funds betting on ...
Money Game   |   Tue, 2 Aug 2016 16:26:58

WSJ City's Brexit Briefing: Miriam Gonzalez on How to Negotiate, EU Gives Britain Security Role, UK Funds Swell

Good afternoon from London. Here's essential reading for the City on today's Brexit developments from WSJ City. For updates throughout the day, you can download WSJ City for iPhone here or Android here. You'll need to open this email on your mobile device to do this. And you can sign ...
Darren Lazarus / MoneyBeat   |   Tue, 2 Aug 2016 15:46:12

The end of the world as we know it? Part 1

A hundred years from now, will students learning 21st Century history be taught that the Brexit vote - which saw an already sceptical Britain decidedly turn its back on the dream of a United States of Europe - was a watershed event, part of the West at large turning its ...
Beyond BRICs   |   Tue, 2 Aug 2016 15:03:32

Brexit: Getting Concrete about Next Steps

Now that the first wave of triumphalism and consternation about Brexit vote on June 23 has died down a bit (my own thoughts just after the vote are here), it's useful to start thinking about actual next steps. Richard E. Baldwin has edited an e-book for VoxEU, Brexit Beckons: Thinking ...
Timothy Taylor / Conversable Economist   |   Tue, 2 Aug 2016 15:00:00

A "1 In 10,000 Year Event": JPM Head Quant Explains Why The S&P Refuses To Sell Off

Ever since Brexit, traders - and mostly bears - have been scratching their heads over not only by the S&P500's tremendous rally but also but the market's seeming ability to immediately digest through any incremental negative news, both economic and geopolitical and rebound immediately from a support level at around ...
Zero Hedge   |   Tue, 2 Aug 2016 14:52:48

EU pensions row is taste of things to come

Brexit negotiations will be a long, drawn-out affair, writes Gideon Rachman
FT   |   Tue, 2 Aug 2016 14:50:47

Piling on the Pound ETF as Post-Brexit Slump Continues

These are not good days for the CurrencyShares British Pound Sterling Trust (NYSEArca: FXB), which tracks the British pound's movement against the U.S. dollar. Down more than 10% year-to-date, FXB is easily one of this year's worst-performing currency exchange traded funds and its post-Brexit slump has not shown any signs ...
Tom Lydon / ETF Trends   |   Tue, 2 Aug 2016 14:47:09

Brexit holds no fear for First property Group PLC boss Habib

There are company bosses fearful of the prospects posed by Brexit. Ben Habib, chief executive at commercial property investor and fund manager First Property Group PLC (LON:FPO), isn't one of them. He sees the current market instability post the UK vote to leave the EU as a big opportunity for ...
Proactive Investors   |   Tue, 2 Aug 2016 14:46:00

FOREX-Dollar hits 6-week low as U.S. data clouds rate hike outlook

*Euro above $1.12 for first time since Brexit vote. *Broadly negative tone for dollar continues. NEW YORK, Aug 2- The dollar dropped to a six-week low against a basket of currencies on Tuesday, pressured by expectations the Federal Reserve would delay raising interest rates after recent soft U.S. economic data.
CNBC   |   Tue, 2 Aug 2016 14:22:00

Brexit endangers Britain's US$454-billion building boom

Whether the U.K. can afford 405 billion pounds (US$454 billion) worth of projects in the pipeline before the Brexit vote depends on how much the economy suffer
Benjamin Katz and Alex Morales, Bloomberg News / Financial Post   |   Tue, 2 Aug 2016 14:15:40

EUR/USD reaches fresh 6-week highs

EUR/USD managed to climb above the 1.12 mark and reached fresh post-Brexit highs during the New York session, as the greenback weakened slightly follo
Ani Salama / FX Street   |   Tue, 2 Aug 2016 13:56:36

Financial Expert on Brexit: 'The British Always Want Special Treatment'

What direction will Britain take as it prepares for Brexit? British financial industry expert David Marsh says he believes Britain's withdrawal from the EU will do less damage to Brits than to the rest of Europe.
Spiegel   |   Tue, 2 Aug 2016 13:47:16

AUD/USD Australian Dollar 6 Month Outlook 2016 2H

The RBA seems to be little concerned by Brexit and believes it's far too soon to pass judgment on the effect of the 'leave' Europe June vote on the U.K economy, implying that a weaker sterling (down -11% since June 23) could temper the economic fallout. The RBA's Governor Stevens ...
OANDA   |   Tue, 2 Aug 2016 13:11:12

Brexit gives UK 'huge advantage' in trade deals, predicts car industry chief

Alan Tovey / Telegraph   |   Tue, 2 Aug 2016 12:54:22

Amid banking and Brexit bedlam, the case for gold looks bright

Gold prices have rebounded and should continue to climb as investors seeking haven from market turmoil pour money into the metal.
CNBC   |   Tue, 2 Aug 2016 12:51:00

Unchanged support for EUR before Brexit but optimism about EU's future is lower - Danske Bank

Pernille Bomholdt Henneberg, Senior Analyst at Danske Bank, notes that the European Commission's Spring Eurobarometer survey shows unchanged support f
Sandeep Kanihama / FX Street   |   Tue, 2 Aug 2016 12:46:24

The big thing almost everyone missed about Brexit

To explain why the UK voted to leave the European Union, commentators have zeroed in on four potential reasons: fear of immigrants, voter dissatisfaction with a weak economy or the status quo, loss of national autonomy, and age. The first three explanations are intuitively powerful, but they seem to be ...
Mateusz Tomkowiak / Vox   |   Tue, 2 Aug 2016 12:10:02

Brexit, Not Our Problem, as Q3 Begins

By K. Sean Clark, CFA Trading across asset classes was dominated in the second quarter by the market's view of Brexit. When polls showed that Brexit was likely, risk assets sold off. When the polls showed it looked as if Britain would stay in the European Union (EU), risk assets ...
Clark Capital Management / ETF Trends   |   Tue, 2 Aug 2016 12:00:00

US STOCKS-Futures lower ahead of economic data

*Robert Kaplan, president of the Dallas Federal Reserve, warned that a raft of global risks such as the Brexit vote could affect the United States and reiterated his stand for a gradual rise in interest rates. *Wall Street closed lower on Monday as a drop in oil prices dragged down ...
CNBC   |   Tue, 2 Aug 2016 11:41:00

UK's new EU commissioner given security portfolio

Sir Julian King to have narrowly focused role as country prepares for Brexit
FT   |   Tue, 2 Aug 2016 11:27:00

Bank of America and Citigroup warn of uncertainties

Bank of America said its businesses and results could be adversely affected and it may have to incur additional costs if Britain's exit from the European Union limits the ability of its UK entities to conduct business in the bloc.
Here Is The City   |   Tue, 2 Aug 2016 11:11:28

Morning News: August 2, 2016

Brexit Imperils Britain's £405 Billion Infrastructure Boom With Economy Still Struggling, Japan Tries More Stimulus Kuroda Sees No Slowdown in Stimulus After Policy BOJ Review [...]
Eddy Elfenbein   |   Tue, 2 Aug 2016 11:05:10

Low interest rates not out of the blue: Commerzbank CFO

Commerzbank CFO, Stephan Engels, talks about the uncertainty surrounding Brexit and the impact of the low interest rate environment.
CNBC   |   Tue, 2 Aug 2016 10:11:00

EU demands Britain pays pensions of 1,730 Eurocrats in wake of Brexit vote

Martin Banks / Telegraph   |   Tue, 2 Aug 2016 09:58:57

Spain: an island of decency and good sense

Compared with the US and 'Brexit' campaigns, the political climate in Spain is a shining example of tolerance
John Carlin / EL PAÍS   |   Tue, 2 Aug 2016 09:48:32

UK construction in deepest downturn since 2009

UK construction activity fell sharply for a second successive month in July, pointing to an ongoing impact of Brexit-related worries.
Markit   |   Tue, 2 Aug 2016 09:30:44

Datawatch: Who can stay post-Brexit?

The fate of EU migrants in the UK hangs in the balance, but the UK government has stated that those who have lived "continuously and lawfully" in the country for at least five years will automatically have a permanent right to reside. The five years will start to count once ...
Federica Cocco / FT Data   |   Tue, 2 Aug 2016 09:13:43

Brexit post-mortem

It is a month after Britain's surprise vote to leave the EU. A new Conservative Prime Minister and Chancellor are in place, both David...
Alasdair Macleod / Cobden Centre   |   Tue, 2 Aug 2016 09:05:40

Let young people move: why any post-Brexit migration deal must safeguard youth mobility

Restrictions on free movement are likely to be an important aspect of the UK's new relationship with EU countries post-Brexit. Richard Bronk argues that safeguarding youth mobility should be a major principle behind any immigration reforms. He explores the economic, political and social case for preserving it, before suggesting some ...
Blog Admin / British Politics and Policy at LSE   |   Tue, 2 Aug 2016 09:00:30

Should economics be democratised?

In the continuing fallout from the Brexit vote comes a callto democratise economics. I tend to think about these issues by drawing an analogy between economics and medicine. The reason I like this analogy is that both are stochastic sciences: people are unpredictable in terms of their behaviour and biology, ...
Mainly Macro   |   Tue, 2 Aug 2016 08:49:00

Post-Brexit London, India's Lust For Capital And Masala Bonds

There has been much a'wailin' and a' 'nashing of the teeth over what Brexit will do to the City of London, the wholesale financial markets which are the lifeblood of London's economy. The concern being that if said markets don't have access to the Continent then what will they be ...
Tim Worstall, Contributor / Forbes   |   Tue, 2 Aug 2016 08:35:00

Credit gains further ground in July

Credit markets clocked in yet a remarkable month in July, and the grind tighter continued. Fixed income proved to be, once again, the most defensive asset class of the lot. In the aftermath of the Brexit vote, and the failed coups d'état in Turkey midway through the month coupled with ...
Times of Malta   |   Tue, 2 Aug 2016 08:10:00

Dimon: Brexit could lead to breakdown of eurozone

Seeking Alpha / Seeking Alpha   |   Tue, 2 Aug 2016 07:55:01

Impact of Brexit has pushed investors up the risk curve: Strategist

Peter Oppenheimer, chief global equities strategist at Goldman Sachs, says Brexit's impact on bond yields helped cause the recent market rallies.
CNBC   |   Tue, 2 Aug 2016 07:52:00

Market briefing: UK markets closed in negative territory yesterday, after data revealed that UK's manufacturing PMI slumped in July amid uncertainty due to the Brexit vote

UK Market Snapshot UK markets closed in negative territory yesterday, after data revealed that UK's manufacturing PMI slumped in July amid uncertainty due to the Brexit vote. Housebuilders, Taylor Wimpey, Barratt Developments and Persimmon slumped 4.5%, 3.1% and 2.8%, respectively. Wm Morrison Supermarkets dipped 2.3%, after it slashed prices on ...
Proactive Investors   |   Tue, 2 Aug 2016 07:40:00

EUR/USD taps 1.1200 handle for the first time since Brexit vote

The EUR/USD pair maintained its strong bid tone and touched 1.1200 handle for the first time since the historic Brexit referendum on June 23. After
Haresh Menghani / FX Street   |   Tue, 2 Aug 2016 07:37:49

FTSE 100 slides as Travis Perkins grumbles about uncertainty caused by Brexit

FTSE 100 snapshot at 8.15 The FTSE 100 has opened a tad lower than expected at 6,665, down 29 points. The blue-chip index has fallen despite a warm reception given to insurer Direct Line Insurance Group PLC's (LON:SLG) half-year results. The shares were up 4.3% at 370.3p early doors, as ...
Proactive Investors   |   Tue, 2 Aug 2016 07:15:00

Pro-Brexit Economists See Growth Opportunities for U.K.

A small coterie of mainly British-based economists say leaving the European Union will give the U.K. greater scope for growth.
WSJ   |   Tue, 2 Aug 2016 07:12:26

FT Opening Quote: Brexit caution dominates results

Brexit caution in the UK, deadline for PPI and Mrs May's plans for industry. FT Opening Quote , with commentary by City Editor Jonathan Guthrie , is your early Square Mile briefing. You can sign up for the full newsletter here. Continue reading: FT Opening Quote: Brexit caution dominates results
Siona Jenkins / FT Alphaville   |   Tue, 2 Aug 2016 07:08:56

"Reversing Brexit" by Anatole Kaletsky

How should the European Union respond to the narrow decision by voters in the United Kingdom to leave? European leaders are now focusing, rightly, on how to prevent other countries from leaving the EU or the euro. The most important country to be kept in the club is Italy, which ...
Anatole Kaletsky / Social Europe Journal   |   Tue, 2 Aug 2016 07:00:41

Surging world growth makes a mockery of Brexit panic

Ambrose Evans-Pritchard / Telegraph   |   Tue, 2 Aug 2016 06:54:50

WSJ City: Brexit Economists Optimistic, FCA to Set PPI Deadline

Good morning from London. Here's essential reading today from WSJ City MUST READS FROM WSJ CITY Brexit will fuel trade and help to rebalance the economy, some economists say. The FCA is seeking to impose a 2019 deadline on PPI claims, which have rocked the banking world. City Talk: Fresnillo ...
Giles Turner / MoneyBeat   |   Tue, 2 Aug 2016 06:53:42

Greggs serves up higher sales but profits fall

Consumer confidence may be on the wane after 'Brexit' but people are still popping into Greggs plc (LON:GRG) for their morning coffee and bacon rolls. The bakery chain, which has developed a takeaway focus, said further development of its breakfasts and hot drinks had helped to boost like-for-like sales by ...
Proactive Investors   |   Tue, 2 Aug 2016 06:40:00

Brexit will not mean an end to Tory divisions on Europe

Divisions within the Conservative Party were one of the key underlying reasons behind David Cameron's decision to hold a referendum on EU membership. As Sean Swan writes, however, the decision to leave the EU on 23 June is unlikely to put the issue to rest. He argues that even once ...
Blog Team / EUROPP   |   Tue, 2 Aug 2016 06:30:53

PM May Resurrects Industrial Policy as Britain Prepares for Brexit

Prime Minister Theresa May will on Tuesday outline her bid to reshape the British economy for a post-Brexit world, reviving the once unfashionable concept of industrial policy 30 years after Margaret Thatcher killed it off. May will chair the first meeting of the "Cabinet Committee on Economy and Industrial Strategy" ...
Craig Erlam / OANDA   |   Tue, 2 Aug 2016 06:26:23

Irish Manufacturing Growth Slips to Three-Year Low on Brexit - PMI

Growth in Ireland's manufacturing sector fell to its lowest level in more than three years in July in the wake of Britain's vote to leave the European Union, a survey showed on Tuesday. The Investec Manufacturing Purchasing Managers' Index fell to 50.2 in July from 53.0 in June, leaving it ...
Craig Erlam / OANDA   |   Tue, 2 Aug 2016 06:19:53

The aftermath of the Brexit vote - the verdict from a derided expert

John van Reenen wasn't surprised by the UK's vote to Leave the EU. Whilst his own research predicts severe economic and political damage in the case of Brexit, he's thought a Leave vote was a real possibility ever since David Cameron committed to a vote in 2013. In his last ...
BPP Team / British Politics and Policy at LSE   |   Tue, 2 Aug 2016 06:00:47

I advised Corbyn's economics team to learn fast. They didn't | David Blanchflower

With Britain apparently in recession, the Labour leadership needs to present a robust plan. But I don't think it has one The UK is in a major economic crisis, caused by the shock Brexit vote, that is being exacerbated by a political crisis. We have a newly appointed chancellor of ...
David Blanchflower / Guardian   |   Tue, 2 Aug 2016 05:00:08

Bond yields crater, but...

Aussie bond yields just hit record low yields on the two year and five year. The ten year remains marginally above the Brexit low: Spreads to the US are approaching but not at new lows owing to the buying we've seen there in the last week: Hence the RBA has ...
MacroBusiness   |   Tue, 2 Aug 2016 04:50:34

Three Brexit ministers jostle for position

The house-share at Chevening is a metaphor for overlapping responsibilities
FT   |   Tue, 2 Aug 2016 04:39:37

Does Brexit Spell Doom for British Scientists?

Yesterday the Washington Post published an article with the breathless headline "Britain's Scientists Are Freaking Out over Brexit," speculating on the supposedly disastrous consequences for researchers in the U.K. of Britain's departure from the EU. To report that a country with such a rich history of academic excellence is "freaking ...
Paul Crookston / National Review   |   Tue, 2 Aug 2016 04:00:00

Travis Perkins takes 'Brexit' hit

Builder's merchant Travis Perkins plc (LON:TPK) posted higher profits and revenue but reported a hit from the EU referendum, knocking its shares. Travis, which owns Wickes and Toolstation among other businesses, boosted like-for-like revenue in the six months to June 30 by 3.1% to £3.1bn. Adjusted operating profit increased 4.9% ...
Proactive Investors   |   Tue, 2 Aug 2016 03:05:00

PM May resurrects industrial policy

Prime Minister Theresa May will outline her bid to reshape the British economy for a post-Brexit world, reviving industrial policy once more.
CNBC   |   Tue, 2 Aug 2016 02:24:00

DIARY-Top Economic Events to Aug 10

TUESDAY, AUGUST 2 BEIJING- Federal Reserve Bank of Dallas President Robert Kaplan speaks on "Economic Conditions and Implications for Monetary Policy" before the Official Monetary and Financial Institutions Forum City Lecture event- 1015 GMT. DUBLIN- Ireland's central bank Governor Philip Lane makes first post-Brexit speech- 1145 GMT.
CNBC   |   Tue, 2 Aug 2016 00:01:00

Dimon says euro zone breakdown possible

The integrity of the eurozone is at risk after Brexit, said JPMorgan Chase CEO Jamie Dimon.
CNBC   |   Mon, 1 Aug 2016 22:42:00

Junk bond ETFs drop by most since Brexit

Slide in US oil benchmark to below $40 a barrel ripples though equity and bond markets
FT   |   Mon, 1 Aug 2016 21:31:15

FT column: Trump and Brexit feed off the same anger

By Gideon Rachman At the Democratic convention last week, I experienced an uncomfortable feeling of déj vu. Emblazoned across the arena was the rallying cry of the Hillary Clinton campaign - "Stronger Together". It was a depressing reminder of "Stronger In," the slogan of the losing Remain campaign in Britain's ...
FT The World   |   Mon, 1 Aug 2016 20:43:12

FidelityVoice: Economic Check-In: Stay Diversified

After the Brexit market sell-off at the end of June, the stock market indexes rallied to all-time highs, and yields sank to all-time lows as bond prices rose. What does this divergence mean? In her bimonthly check-in, Lisa Emsbo-Mattingly, Fidelity's director of asset allocation research, discusses Brexit implications, the latest ...
Fidelity Viewpoints Team, Fidelity / Forbes   |   Mon, 1 Aug 2016 18:32:00

Global PMI signals shift to higher gear at start of third quarter

Growth of worldwide factory activity edged higher for a second successive month in July to reach an eight-month high. The upturn provides a tentative indication that - despite the UK being hit hard in the immediate aftermath of the Brexit vote - global production may be starting to shift up ...
Markit   |   Mon, 1 Aug 2016 16:11:03

Trump and Brexit feed off the same anger

Britain's EU vote is a warning for Hillary Clinton not to be complacent
Gideon Rachman   |   Mon, 1 Aug 2016 15:50:33

Cellnex, Vodafone add to buoyant mood

Split-rated issuer Cellnex Telecom will print a €750m long seven-year euro benchmark trade from a €4bn book, the latest sign of how smoothly the corporate bond market has taken the Brexit vote in its stride.
IFR   |   Mon, 1 Aug 2016 15:20:00

Real estate: Property fund gatings revive memories of 2008

Brexit sparks investor flight; Private equity sees an opening
Euromoney   |   Mon, 1 Aug 2016 15:00:00

Following the flow of money

TTFS Portfolio Manager Charles Biderman and CNBC's Rick Santelli discuss the economy and jobs post-Brexit.
CNBC   |   Mon, 1 Aug 2016 14:44:00

Searching for the Next Catalyst for Gold ETFs

One of the biggest reasons investors have been flocking to gold exchange trade products, such as the SPDR Gold Shares (NYSEArca: GLD), iShares Gold Trust (NYSEArca: IAU) and ETFS Physical Swiss Gold Shares (NYSEArca: SGOL), this year is the perception of elevated market volatility, but when post-Brexit volatility ebbed, lifting ...
ETF Trends   |   Mon, 1 Aug 2016 14:40:26

Brexit Fallout: Consumer Confidence Collapses

From GkF on Friday: GfK's long-running monthly Consumer Confidence Index dropped 11 points in July (since the June interviews conducted before the Referendum) from -1 to -12. The survey dates back to 1974 and July sees the sharpest month-by-month drop for more than 26 years (March 1990). This is also ...
Menzie Chinn / Econbrowser   |   Mon, 1 Aug 2016 13:58:26

Does UK industry have a case of the post-Brexit blues?

44% of UK workers are feeling downbeat over what the future will be like post-Brexit, a new CIPD survey shows.
CNBC   |   Mon, 1 Aug 2016 13:54:00

Why Europe needs new political vision after Brexit

The EU's post-Brexit show of unity, together with the result of the Spanish election, calmed fears that the EU or the eurozone would fall apart in short order The market reaction to the Brexit shock has been mild compared with two other recent episodes of global financial volatility: the summer ...
Nouriel Roubini / Guardian   |   Mon, 1 Aug 2016 13:53:34

1 million-plus more homeowners can benefit from refi post-Brexit

A drop in mortgage interest rates after the Brexit vote has borrowers rushing to the bank, some hoping to cash in.
CNBC   |   Mon, 1 Aug 2016 13:52:00

Part II: Are You Ready for Some Paranoid? Insights into Policy, Politics and COP21 Climate Goals

The global climate is not the only environment suffering from an abundance of hot air and inclemency. Consider the political/policy climate in the U.S., e.g., November elections, and abroad, e.g., Brexit, and the near-term impact of these socio-economic factors on national and international efforts to sufficiently slow the rate of ...
REN   |   Mon, 1 Aug 2016 13:51:00

Should the UK pull out of the EU customs union?

The UK Government appears divided on whether the United Kingdom should seek to remain within the European Union's customs union after Brexit. The United Kingdom is likely to want to leave the customs union, even it remains in the EU's single market. But the UK should try and keep to ...
Bruegel   |   Mon, 1 Aug 2016 13:21:48

Citigroup says no 'significant negative impact' from Brexit

(Reuters) - Citigroup Inc said on Monday it did not experience any "significant negative impact" on its results or client activity from Britain's vote to exit the European Union. Citi said in a regulatory filing that while market activity increased following the UK referendum, the bank expects the operating environment ...
Business Insider   |   Mon, 1 Aug 2016 13:01:59

Mark Carney and Brexit: A 'rock star' and a hard place

Fallout from the EU referendum is unlike any crisis the Bank of England governor has ever faced The post Mark Carney and Brexit: A 'rock star' and a hard place appeared first on Macleans.ca .
Chris Sorensen / Macleans   |   Mon, 1 Aug 2016 12:58:08

The Best And Worst Performing Assets In July And YTD

After a volatile end to June in the aftermath of the Brexit vote, markets in July bounced back from the initial post-Brexit fallout. As DB notes, the majority of equity markets in particular are either back to or above pre-Brexit levels with the sole exception to that still being European ...
Zero Hedge   |   Mon, 1 Aug 2016 12:37:27

July ETF Flows Show Investors Turned Risk-On

Many expected a post-Brexit environment would weigh on sentiment and push investors toward safer assets. However, exchange traded funds that track stocks and riskier assets continued to draw investors over July, with the S&P 500 and emerging market exposure among the standouts. The benchmark S&P 500 index reached a new ...
ETF Trends   |   Mon, 1 Aug 2016 12:25:36

Europe in Crisis: The Elections to Watch for Political Risk

Brexit. The largest influx of refugees since World War II. A spate of terrorist attacks. A populist insurgency. Another banking meltdown. The crises buffeting the European Union show no signs of letting up. The U.S., Europe's strongest ally, is embroiled in the most tumultuous election in living memory, Turkey is ...
OANDA   |   Mon, 1 Aug 2016 12:23:52

Brexit Hit U.K. Factories Harder Than Initially Estimated

U.K. manufacturing shrank more than initially forecast in July, suffering its biggest drop in more than three years. A Purchasing Managers' Index slumped to 48.2, below the one-off flash reading of 49.1, Markit Economics said Monday in London. The index has only fallen below the 50 mark - which separates ...
Craig Erlam / OANDA   |   Mon, 1 Aug 2016 12:20:40

For All The F**king Uncertainty, Why Is The Stock Market At All Time Highs?

Submitted by Michael Shedlock via MishTalk.com, Every day day of the another economist yaps about uncertainty. There's uncertainty over the US election, over Brexit, over interest rates, over the strength of the US economy, and over over global trade. Will the Bank of China devalue the yuan? Will the Bank ...
Zero Hedge   |   Mon, 1 Aug 2016 12:20:09

U.K. Manufacturing Activity Hurt by Brexit

British manufacturing activity tumbled to its lowest level since 2013 in the wake of the U.K.'s decision to exit the European Union, according to a closely watched survey.
WSJ   |   Mon, 1 Aug 2016 12:20:06

Nearly half a million EU nationals will be forced to leave Britain after Brexit, think tank warns

Laura Hughes / Telegraph   |   Mon, 1 Aug 2016 11:56:26

Guest post: What a UK macro-financial framework should look like as Brexit is negotiated

Peter Doyle, a former IMF staffer, advises the UK government not to delay rewriting the fiscal and macro-financial rules for the Brexit era... Continue reading: Guest post: What a UK macro-financial framework should look like as Brexit is negotiated
Guest writer / FT Alphaville   |   Mon, 1 Aug 2016 11:56:10

When will we know if the UK economy has been hit by Brexit? And what should we be looking out for?

Peter Spence / Telegraph   |   Mon, 1 Aug 2016 11:56:00

Dear Labour

The world has changed. Labour needs to change with it. Attlee, Truman and Stalin at the Potsdam conference: Labour must escape its 1945 myth. Image, public domain Dear Labour, B.B. (Before Brexit), I started writing constructively critical letters to other progressive parties; the Greens, the SNP and the Liberal Democrats. ...
Open Democracy   |   Mon, 1 Aug 2016 11:49:37

Are we living through another 1930s? | Paul Mason

As daunting events come thick and fast amid increasing public racism and xenophobia, the similarities with the buildup to the second world war are real, but we can take hope from a few key differences Things are happening with machine-gun rapidity: Brexit, the Turkish coup, Islamist massacres in France, the ...
Paul Mason / Guardian   |   Mon, 1 Aug 2016 11:39:45

Hopes that UK business would shake off Brexit vote now look fanciful

Worse-than-expected UK manufacturing data proves need for decisive policy action, starting with a Bank of England rate cut So much for the idea that the post-Brexit hit to UK manufacturing was a knee-jerk reaction to the referendum and that the mood would improve as time wore on. The final figures ...
Larry Elliott Economics editor / Guardian   |   Mon, 1 Aug 2016 11:36:03

Lloyds Q2 Results: Exceptionally Well-Positioned To Withstand Brexit Uncertainty

Seeking Alpha   |   Mon, 1 Aug 2016 11:33:22

U.K. and China regulators discuss framework for financial projects

Agreement to pave way for landmark financial services projects eases fears Britain could be a less attractive partner after Brexit
Michelle Price / Globe and Mail   |   Mon, 1 Aug 2016 11:32:22

How will Brexit affect the NHS? The English trusts that depend most on EU nurses

In one London NHS trust, one in five nurses are from the European Economic Area. Rachel Marangozov and Matthew Williams explain why some parts of the NHS have become increasingly dependent on the EU migrant workforce and look at the implications of Brexit on recruitment. With ongoing shortages and so ...
BPP Team / British Politics and Policy at LSE   |   Mon, 1 Aug 2016 11:30:24

Wealthy investors to reduce UK exposure following Brexit vote

69 per cent of high net worth individuals are now looking to 'rebalance and diversify' their investment portfolios in order to reduce their exposure to UK-based assets in the wake of the Brexit vote, a global poll reveals. When asked [...]
VW Staff / Value Walk   |   Mon, 1 Aug 2016 11:30:10

Brexit hits markets again

Rome, August 1 - Brexit fears hit Europe's stock markets on Monday after a reported fall in the confidence of British manufacturing managers. London was below parity, while Milan's FTSE Mib index shed 0.68%, Madrid lost 0.7% and Paris fell 0.44%. Frankfurt was 0.2% up. Bank stocks were hit hard, ...
Gazzetta Del Sud   |   Mon, 1 Aug 2016 11:20:00

Europe's stress tests fail to ease investors' bank sector worries

LONDON, Aug 1- The latest health check of leading European Union banks failed to end worries about profitability in the sector and the omission of risks such as the effect of negative interest rates and Brexit blunted its impact. They said major elements were missing, including the impact of negative ...
CNBC   |   Mon, 1 Aug 2016 11:07:00

Black Knight June Mortgage Monitor: "Brexit' Effect Increases Refinanceable Population to 8.7 Million"

Black Knight Financial Services (BKFS) released their Mortgage Monitor report for June today. According to BKFS, 4.31% of mortgages were delinquent in June, down from 4.79% in June 2015. BKFS also reported that 1.10% of mortgages were in the foreclosure process, down from 1.56% a year ago.This gives a total ...
Bill McBride / Calculated Risk   |   Mon, 1 Aug 2016 11:01:00

What's left of the Brexit shock? - Commerzbank

Research Team at Commerzbank, suggests that many economists have sharply lowered their forecasts for Germany and the euro zone after the British vote
Sandeep Kanihama / FX Street   |   Mon, 1 Aug 2016 10:43:54

Hedge fund to expand in London despite Brexit

Anthony Scaramucci's Skybridge Capital is expanding to the UK even as the fund-of-hedge-funds firm faces headwinds in the US.
Here Is The City   |   Mon, 1 Aug 2016 10:27:33

Brexit vote demonstrated the power of the old

Seniors have a unique set of interests and understanding of economic trade-offs - all of which policymakers ignore at their peril. The post Brexit vote demonstrated the power of the old appeared first on The Japan Times .
Narayana Kocherlakota / Japan Times   |   Mon, 1 Aug 2016 10:06:44

With nearly half its food imported, who will feed Britain after 'Brexit'?

At the Borough Market here, the stalls showcase Spanish hams, French and Dutch cheeses, Croatian fig cakes, Italian truffles and other delicacies from across the European Union. The market recently was packed with tourists taking advantage of the British pound's slide against other currencies in...
Carla Power / Money & Company   |   Mon, 1 Aug 2016 10:00:00

The S&P 500 in Week 4 of July 2016

With the one month anniversary of the stock market's reaction to the Brexit vote event, the fourth week of July 2016 provided the first test of the latest method we're testing out to account for the echo effect that our standard model experiences due to its use of historic stock ...
Political Calculations   |   Mon, 1 Aug 2016 09:28:00

What's Behind The Post-Brexit Market Rebound?

The United Kingdom's vote to leave the European Union sent markets plunging around the world. Five weeks later, they've rebounded much faster than many people expected.
Frank Langfitt / NPR   |   Mon, 1 Aug 2016 09:04:00

The evidence is mounting that Britain is plunging toward a recession

Britain's manufacturers are suffering even more than expected in the immediate aftermath of the UK's vote to leave the European Union, according to the latest data released by Markit on Monday morning. Markit's growth data shows that Britain's factory's recorded activity of 48.2 in July, well below the 49.1 flash ...
Will Martin / Business Insider   |   Mon, 1 Aug 2016 08:42:02

For Some UKIP Lawmakers, Brexit Victory Is Bittersweet

For the politicians who style themselves the unyielding thorns in the side of the European Parliament, victory in the fight to take the U.K. out of the European Union has its downside.
Joseph Ataman / WSJ Brussels   |   Mon, 1 Aug 2016 08:38:02

Europe's manufacturers couldn't care less about Brexit

The eurozone's manufacturers are shrugging off fears about the impact of Britain's vote to leave the European Union, and are enjoying "steady growth" in the face of the vote, according to the latest PMI data released by Markit on Monday morning. Markit's manufacturing PMI for the eurozone was a marginal ...
Will Martin / Business Insider   |   Mon, 1 Aug 2016 08:20:56

Brexit fallout: Europe facing economic and political challenges - Goldman Sachs

Research Team at Goldman Sachs, suggests that a month ago, the UK electorate voted to leave the European Union and the resulting significant re-pricin
Sandeep Kanihama / FX Street   |   Mon, 1 Aug 2016 07:56:04

Dire UK manufacturing data hits Footsie

London shares headed into the red on Monday as dire manufacturing data highlighted the threat to the economy posed by 'Brexit'. The FTSE 100 Index lost hold of a 25-point gain to stand 17.5 points off at 6706.92 by lunchtime, while the FTSE 250 Index dropped 51 points, but small-cap ...
Proactive Investors   |   Mon, 1 Aug 2016 07:30:00

Brexit quest enters 'phoney war'

London and Brussels confront the complexity of divorce talks and the minefield of European elections
FT   |   Mon, 1 Aug 2016 07:15:04

FT Opening Quote: GSK and Alphabet to develop bioelectronics

GSK and Alphabet team up, a week of post-Brexit results and BOE expected to cut rates. FT Opening Quote , with commentary by City Editor Jonathan Guthrie , is your early Square Mile briefing. You can sign up for the full newsletter here. Continue reading: FT Opening Quote: GSK and ...
FT Alphaville   |   Mon, 1 Aug 2016 07:08:59

Links for 08-01-16

Time to ditch Rawls? - Branko Milanovic The Republican Bankruptcy Illusion - Simon Johnson Brexit Beckons: Thinking ahead by leading economists - VoxEU The Economic Outlook and Implications for Monetary Policy - William Dudley The Economic Consequences of Trump vs....
Economist's View   |   Mon, 1 Aug 2016 07:06:00

Brexit and the tragedy of Europe

Is the EU in danger of collapse following the UK's decision to leave? Miguel Angel Lara Otaola writes that Brexit represents a key challenge for Europe's post-war system of open markets, cooperation between nations, stability, and peace. He argues that both the UK and the rest of the EU will ...
Blog Admin / EUROPP   |   Mon, 1 Aug 2016 06:30:40

Papers: "Business as usual" for UKTV

It's "business as usual" for UKTV, the owner of TV channels Dave and Gold, after the UK's Brexit vote. The company has today reported that it is "outpacing the British broadcast market", with a record share of commercial impacts, claiming 9.7%, and "significant growth" of audience share and on-demand viewing ...
Proactive Investors   |   Mon, 1 Aug 2016 06:24:00

Flotilla fisherman on Brexit hopes

After the UK voted Leave in the recent EU referendum, what does the fisherman who organised a pro-Brexit flotilla want for his industry?
BBC   |   Mon, 1 Aug 2016 05:59:22

Chaos as nominations close in UKIP leadership race to replace Farage

Nominations closed Sunday in the race to replace Nigel Farage as leader of the U.K. Independence Party, who stood down after achieving his life's mission of Brexit. But the process was plunged into confusion after the front-runner Steven Woolfe failed to submit his nomination before the deadline. Farage and the ...
Japan Times   |   Mon, 1 Aug 2016 05:38:31

Further reading

Elsewhere on Monday, - Brexit, VoxEU eBook edition. - From a cautiously optimistic Gavyn Davies: "The probability of a global recession within 12 months in all of the major regions has now plummeted to almost zero, while the probability of "strong expansion" has risen to above 50 per cent." - ...
FT Alphaville   |   Mon, 1 Aug 2016 05:19:17

Four ways to curb migration post-Brexit

Deal will have to allay voter concerns while not excessively damaging economy
FT   |   Mon, 1 Aug 2016 05:00:43

GLOBAL ECONOMY WEEKAHEAD-Bank of England prepares to tackle Brexit hit

LONDON, July 29 (Reuters) - The Bank of England (BoE) must decide over the coming week how much trouble Britain's economy is in following the shock vote to leave the European Union, and how much...
Reuters   |   Mon, 1 Aug 2016 05:00:01

Venture Capital deals fall again

Continued investor concerns over startup valuations, macroeconomic upheavals, the ramifications of Brexit, and an uncertain exit environment for portfolio companies translated into another down quarter for investment deals in venture capital (VC)-backed companies. According to Venture Pulse, the quarterly global report on VC trends, published jointly by KPMG International and ...
Times of Malta   |   Mon, 1 Aug 2016 04:15:11

Prospect of US rate rise recedes as key Fed voter urges caution

New York Fed chief William Dudley says headwinds from sluggish growth and Brexit argue against a renewed increase The prospect of a further rise in US interest rates has receded after one of the Federal Reserve's most influential policymakers said caution was needed due to lingering risks to the US ...
Reuters / Guardian   |   Mon, 1 Aug 2016 02:21:15

DIARY-Top Economic Events to Aug 4

TUESDAY, AUGUST 2 BEIJING- Federal Reserve Bank of Dallas President Robert Kaplan speaks on "Economic Conditions and Implications for Monetary Policy" before the Official Monetary and Financial Institutions Forum City Lecture event- 1015 GMT. DUBLIN- Ireland's central bank Governor Philip Lane makes first post-Brexit speech- 1145 GMT.
CNBC   |   Mon, 1 Aug 2016 00:01:00

UK peers plan to block Brexit

Cross-party coalition in House of Lords is discussing options to block, delay or revisit the Brexit referendum result.
Austrailian   |   Sun, 31 Jul 2016 23:59:00

Growth outlook deteriorating - and don't blame the Brexit vote

Last week, National Accounts data for the June-quarter 2016 was published for the US and the Eurozone and we learned that the next slowdown is happening now, even though neither economy has yet fully recovered from the last downturn (the ... Read the rest of this entry ...
bill / Bill Mitchell   |   Sun, 31 Jul 2016 23:31:34

Business lending predicted to shrink in wake of Brexit vote

Borrowing by firms will drop by 1% this year, EY Item Club forecasts, withconsumer lending also expected to weaken Bank lending to businesses is set to fall in the aftermath of the Brexit vote, while demand for consumer credit and mortgages will also weaken as people spend less on big-ticket ...
Julia Kollewe / Guardian   |   Sun, 31 Jul 2016 23:01:15

Should The British Or The European Union Get Their Knickers In A Twist Over Brexit?

The continuing furor in the UK, the EU and markets all over the world over "Brexit" will turn out to be substantially misguided. As the Brits themselves are fond of saying: "don't get your knickers in a twist." Simply put, the reality is-which even some of the most astute economic ...
Harry G. Broadman, Contributor / Forbes   |   Sun, 31 Jul 2016 22:26:00

Post-Brexit, London's Financial Center Has English Law on Its Side

ImagesGetty ImagesGetty ImagesGetty ImagesGetty ImagesGetty ImagesGetty ImagesGetty ImagesGetty ImagesGetty ImagesGetty ImagesGetty ImagesGetty ImagesGetty ImagesPost-Brexit, London's Financial Center Has English Law on Its Side In its battle to keep financial institutions in London, Britain has an overlooked ally: English law.Post-Brexit, City of London Has English Law on Its Side In its ...
WSJ   |   Fri, 29 Jul 2016 03:16:25

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: 02 Aug 2016     |     enquire