Brexit News Archive: 09 Aug 2016

Quant Manager dormouse Dips -0.11% in July, Launches New Fund

Quantitative investment manager dormouse slipped slightly last month, falling -0.11% as many CTAs gave back some of the volatility-driven gains enjoyed immediately following Britain's Brexit vote. read more
FINalternatives   |   Tue, 9 Aug 2016 21:39:11

Italy At The Brink: From Renzi's Referendum To Italexit?

Italy At The Brink: From Renzi's Referendum To Italexit? Europe's Summer of Discontent Dan Steinbock - Rome In the aftermath of the Brexit tensions, Italy is defying Brussels to bail out troubled banks and preparing for constitutional referendum in [...]
Value Walk   |   Tue, 9 Aug 2016 20:25:16

Brexiteers need all the help they can get from the Remainers

Telegraph   |   Tue, 9 Aug 2016 19:49:36

Average London house price down by £30,000 in July, says Haart

Estate agent records one of biggest month-on-month falls following Brexit vote, with average price in capital now £527,349 The Brexit vote helped knock more than £30,000 off the price of an average property in London during July and has sent prices lower nationally, according to estate agent Haart. The month-on-month ...
Patrick Collinson / Guardian   |   Tue, 9 Aug 2016 15:23:42

Bank Stocks to Buy As Sector Joins Rally

The July jobs report finally pushed banks back over their pre-Brexit levels.
Barrons   |   Tue, 9 Aug 2016 14:46:03

We've cut interest rates, but what happens next? | David Blanchflower

It may take a year to find out the true path of GDP growth, but more stimulus is likely, and uncertainty following the Brexit vote will not be resolved for several years The Bank of England's Monetary Policy Committee (MPC) did the right thing last week by adding stimulus to ...
David Blanchflower / Guardian   |   Tue, 9 Aug 2016 13:57:15

Current LInks

**Most-Recent Must-Reads:** * **Kevin O'Rourke**: _[Brexit Backlash Has Been a Long Time Coming][]_ * **Paul Krugman**: _[No Right Turn][]_ * **Lawrence Summers**: _[The Progressive Case for Pro-Growth Policies][]_ * **Paul Krugman:**: _[Prudential Macro Policy: Monetary][]_ * **Barry Ritholtz**: _[Let's Put the Lehman Bailout Debate to Rest][]_ [Let's Put the Lehman...
Grasping Reality   |   Tue, 9 Aug 2016 11:23:25

The UK's Post-Brexit Pension Crisis Is Getting Worse

Last week, the Bank of England threw the kitchen sink at the UK financial system in an attempt to stave off any Brexit related economic turbulence by cutting the bank rate by 0.25% and unleashing a wave of new QE [...]
Value Walk   |   Tue, 9 Aug 2016 10:30:12

UK trade deficit widens as factory output slows and imports grow

Trade gap rises to £5.1bn but ONS says there is little evidence yet that Brexit uncertainty has dented manufacturing Britain's trade deficit widened and factory production eased back in the weeks immediately before and after June's EU referendum, the latest official figures have shown. Data from the Office for National ...
Larry Elliott / Guardian   |   Tue, 9 Aug 2016 09:19:10

Last week's gloomy numbers disguise Canada's economic secret: Don Pittis

Trump and Brexit and activist monetary policy - never mind various destabilizing clashes - make Canada seem boring in a hair-raising world. Despite last week's gloomy economic data, Canada is about to prove that a little bit of boring is a big asset.
Don Pittis / CBC   |   Tue, 9 Aug 2016 09:00:00

Two-track trade talks are best for UK

Negotiations with the EU will be helped by knowing what the WTO would offer, writes DeAnne Julius
FT   |   Tue, 9 Aug 2016 07:30:51

Tuesday Watch

Evening HeadlinesBloomberg: These Are the Red Lines Europe Won't Cross in Brexit Talks. U.K. Prime Minister Theresa May faces a daunting array of demands from European Union nations when the time comes to negotiate Britain's future relationship with the bloc, an analysis of the region's 27 other members shows. The ...
Between the Hedges   |   Tue, 9 Aug 2016 02:29:00

Hedge Funds Post Gains for Fifth Consecutive Month in July

Hedge funds posted gains for the fifth consecutive month in July, the longest positive streak since 2013, driven by Equity Hedge and Event-Driven strategies, as equity and credit markets recovered Brexit losses. read more
FINalternatives   |   Tue, 9 Aug 2016 01:26:51

Bank Stocks to Buy As Sector Joins Rally

The July jobs report finally pushed banks back over their pre-Brexit levels.
Barrons   |   Mon, 8 Aug 2016 23:12:16

UK retail sales rebound in July thanks to heavy discounts

British Retail Consortium figures show that online and high street sales rose at fastest pace since January in four weeks to 30 July Warm weather and heavy discounts have helped drive a rebound in retail sales, potentially tempering fears of the UK economy grinding to a halt following the Brexit ...
Katie Allen / Guardian   |   Mon, 8 Aug 2016 23:01:26

Hedge funds pose gains for fifth consecutive month: HFR

Hedge funds posted gains for the fifth consecutive month in July, the longest positive streak since 2013, driven by Equity Hedge and Event-Driven strategies, as equity and credit markets recovered Brexit losses. The HFRI Fund Weighted Composite Index (FWC) advanced 1.7% for the month, increasing the Index Value to 12,644.12 ...
FINalternatives   |   Mon, 8 Aug 2016 20:28:19

Procrastinating on August 8, 2016

**Over at [Equitable Must-Reads:** * **Kevin O'Rourke**: _[Brexit Backlash Has Been a Long Time Coming][]_ * **Paul Krugman**: _[No Right Turn][]_ * **Noam N. Levey**: _[In Louisiana, Rush to Sign Up for ObamaCare Highlights a 'Long Overdue' Demand for Health Insurance][]_ * _[Economics Profession Doubling Down][]_ [Economics Profession...
Grasping Reality   |   Mon, 8 Aug 2016 20:19:56

Gold Daily and Silver Weekly Charts - Marking Time In a Dollar World

It certainly seems as though some entities with real clout have had the markets in a virtual lockdown since Brexit. Gold and silver continue chopping sideways in a relatively tight range, with exceptions for the usual shenanigans, and stocks have been trading in less than 1% moves daily. The 'deliveries' ...
Jesse's Café Américain   |   Mon, 8 Aug 2016 20:15:00

SP 500 and NDX Futures Daily Charts - Sleepy Summer Days

Stocks were sleep-walking once again, with the VIX volatility index moving lower. It has been quite some time since stocks saw a greater than 1% daily move, not since Brexit I think. Earnings continue rolling in, and we will be getting a new macroeconomic numbers this week as noted in ...
Jesse's Café Américain   |   Mon, 8 Aug 2016 20:10:00

No 10 to press on with national living wage despite lobbyist pressure

Sixteen trade bodies write to Theresa May asking her to reconsider policy in light of expected post-Brexit economic slowdown Downing Street has dismissed pressure to slow the implementation of the national living wage in the face of lobbying from businesses concerned about rising salary bills. The policy, which is expected ...
Heather Stewart / Guardian   |   Mon, 8 Aug 2016 17:47:14

Brexitwatch: How is the UK doing?

The BBC looks at the latest impact of the Brexit vote on the UK's economy, and housing and jobs markets.
BBC   |   Mon, 8 Aug 2016 13:20:46

Current LInks

**Most-Recent Must-Reads:** * **Kevin O'Rourke**: _[Brexit Backlash Has Been a Long Time Coming][]_ **Paul Krugman**: _[No Right Turn][]_ * **Noam N. Levey**: _[In Louisiana, Rush to Sign Up for ObamaCare Highlights a 'Long Overdue' Demand for Health Insurance][]_ * _[Economics Profession Doubling Down][]_ [Economics Profession Doubling Down]: [In...
Grasping Reality   |   Mon, 8 Aug 2016 12:03:27

Brexit was a crisis long in the making

The Brexit vote was the reaping of years of deepening inequality, sown by the neoliberal policy programmes of successive governments. Margaret Thatcher meets the president of the European Commission. Photo: / PA Wire/Press Association Images. All rights reservedWhat is surprising about the result of the referendum is that so many ...
Open Democracy   |   Mon, 8 Aug 2016 09:56:02

Monday Morning Memo: Property funds-the troublemaker of the fund industry?

After the "Brexit" vote in the United Kingdom, some of the most popular property funds have faced heavy outflows, since investors expected property prices to fall in the aftermath of
Alpha Now   |   Mon, 8 Aug 2016 09:02:38

Post-Referendum Consumer Spending Surge

Despite claims from Remainers that a Brexit vote would see consumer confidence plummet, new figures out today show spending has surged since the referendum. Just a few weeks ago Remain doom-mongers were writing about a "dent in confidence", how people were "gloomy" about their finances and wanted to "rein in ...
Guy Fawkes' blog   |   Mon, 8 Aug 2016 07:55:21

In the papers: Lloyds, Nike, Premier League

The Times Lloyds share sell-off to be ditched over Brexit fears: Thousands of retail investors are likely to be denied the chance of buying shares in Lloyds at a discount as the government is expected to abandon the plan in the aftermath of market uncertainty caused by Brexit. Investors left ...
Proactive Investors   |   Mon, 8 Aug 2016 07:43:00

Market briefing: US markets closed in positive territory on Friday, after an upbeat jobs report in July indicated that the US economic growth is accelerating

UK Market Snapshot UK markets finished in the green on Friday, extending their gains from the previous session, enjoying a boost from the Bank of England's aggressive stimulus package. Bellway climbed 5.3%, after it stated that there is robust demand for its homes, despite the uncertainty surrounding Brexit. Other housebuilders, ...
Proactive Investors   |   Mon, 8 Aug 2016 07:39:00

Links for 08-08-16

Growth and fairness aren't a trade-off - Larry Summers Prudential Macro Policy - Paul Krugman More Employment Graphs - Calculated Risk What Was to Be Gained? - Economic Principals On causes of Brexit - Stumbling and Mumbling Can we trust...
Economist's View   |   Mon, 8 Aug 2016 07:06:00

A divided nation

After the Brexit vote, economists and others who voted Remain are quite right to sayI told you so as the economic hit they expected comes to pass. The Brexit Bust needs to be labelled clearly, given the power the Leave side has over the means of communication. (Those behind that ...
Mainly Macro   |   Mon, 8 Aug 2016 07:05:00

Present your forehead barcode for reading now

British people should be given a "unique person number" to help the government keep track of the population following the vote for Brexit, according to a new report by a leading thinktank. The paper from Policy Exchange said people feel ... read more
Tim Worstall   |   Mon, 8 Aug 2016 06:45:16

Germany: Mild rebound of industrial production in June - ING

Carsten Brzeski, Chief Economist at ING, suggests that the German industrial production did not show any pre-Brexit weakness, increasing by 0.8% MoM i
Sandeep Kanihama / FX Street   |   Mon, 8 Aug 2016 06:31:36

LoopUp dials in for London IPO

Conference call software group will be one of first floats since Brexit vote
FT   |   Sun, 7 Aug 2016 23:03:14

The BoE and those companies materially contributing to the UK

Mark Carney is still giving more details of today's policy actions (press conference here). But for now, if you're a company considering leaving Britain because of Brexit, perhaps take a good hard look at this from the August 2016 inflation report: Continue reading: The BoE and those companies materially contributing ...
Izabella Kaminska / FT Alphaville   |   Thu, 4 Aug 2016 11:50:28

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

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: 09 Aug 2016     |     enquire