Brexit News Archive: 11 Aug 2016

Mott Capital Management 2Q16 Letter To Investors: TSLA Short

Mott Capital Management letter to investors for the seoncd quarter ended June 30, 2016. Just when you get a minute to breathe the market knocks the wind out of you. The last blow came in the form of the Brexit. [...]
Value Walk   |   Thu, 11 Aug 2016 21:40:24

Eurekahedge Hedge Fund Index Books Fifth Straight Gain in July

Hedge funds posted their fifth consecutive month of gains in July, according to a flash update of the Eurekahedge Hedge Fund Index, as managers capitalized on a return to risk-on stances in equity and debt markets following Britain's Brexit. read more
FINalternatives   |   Thu, 11 Aug 2016 20:49:16

Print-only Private Eye bucks online trend

Sales of magazine hit 30-year high in post-Brexit boost that has also helped Spectator and Economist
FT   |   Thu, 11 Aug 2016 17:00:26

GBP/USD: weak data and lower yields are weighing on the GBP - Scotiabank

In respect of GBP/USD, analysts at Scotiabank explained that weak data and lower yields are weighing on the GBP.
Ross J Burland / FX Street   |   Thu, 11 Aug 2016 16:53:38

GBP/CHF breaks below 1.2600, eyes July lows

GBP/CHF accelerated the decline during the last hours and now it appears to be headed to test post-Brexit referendum lows, that reached back on July 6...
Matías Salord / FX Street   |   Thu, 11 Aug 2016 15:29:36

Avoiding the Bond Trap When Volatility Strikes

By Giralda Advisors When stocks exhibit volatility, there is a tendency for investors to rush into traditional safe-haven assets such as bonds. Recently, this was again evidenced following the Brexit referendum vote, when the high demand for bonds further pushed bond prices up, and bond yields significantly lower. While equity ...
ETF Trends   |   Thu, 11 Aug 2016 15:11:56

My Flight And 8 Fabulous Hotel Nights In London Cost Less Than $500

Photo Credit: Janice Schacter Lintz My daughter was meeting me in London, England. London's hotels are pricey even with the post-Brexit exchange rate. My goal was to travel to London for eight days using points to cover most of the expenses. Staying at one property would have been easier but ...
Janice Schacter Lintz, Contributor / Forbes   |   Thu, 11 Aug 2016 15:00:00

EUR/GBP at fresh 1-month highs above 0.8600

EUR/GBP is back above 0.8600 and printed a fresh 1-month high at 0.8616, as it continues to approach to post-Brexit highs.
Matías Salord / FX Street   |   Thu, 11 Aug 2016 14:43:35

U.S. Economic Update And Financial Market Review - July 2016

July was an uneventful month, as equity and credit markets continued to drift higher after the June shock of 'Brexit' wore off. U.S. payrolls data shows a continued, if uneven,... The post U.S. Economic Update And Financial Market Review - July 2016 appeared first on See It Market .
See It Market   |   Thu, 11 Aug 2016 12:58:39

TUI says profits set to rise as holidaymakers head west instead of Turkey, North Africa

TUI Group, Europe's largest tour operator, said it was on track to meet its profit target this year as more European holidaymakers head further west and Britons remain eager to go abroad despite the fall in sterling following the Brexit vote
Hurriyet   |   Thu, 11 Aug 2016 12:57:00

UPDATE 1-Gold investment hits record first-half levels in 2016 -WGC

LONDON, Aug 11- Investment demand for gold hit record first-half levels this year, a World Gold Council report showed on Thursday, fuelled by a push towards low and negative interest rates, and concerns over political issues such as Brexit. Strength in investment offset a drop in jewellery purchases, especially among ...
CNBC   |   Thu, 11 Aug 2016 11:47:00

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   |   Thu, 11 Aug 2016 10:46:29

Spanish economy set to grow 3.1% this year, but will fall to 2.3% in 2017

BBVA bank blames Brexit fallout and uncertainty over polices for slowdown next year
Cristina Delgado / EL PAÍS   |   Thu, 11 Aug 2016 09:25:08

CREDIT SUISSE: The Brexiteer's export argument is 'unsophisticated'

The argument by the pro-Brexit lobby that the fall in the pound would boost UK exports is says Credit Suisse. Sterling fell to a more than a 30-year-low in the wake of Britain's shock vote to leave the European Union on June 23. This was largely seen as a bad ...
Business Insider   |   Thu, 11 Aug 2016 08:28:34

BREXIT FALLOUT: House sales fall to 2008 financial crisis levels

Home sales fell in July, with Brexit uncertainty blamed for the sharpest decline since the 2008 financial crisis. The number of new buyers seeking homes dropped in July for the fourth consecutive month, the Royal Institute of Chartered Surveyors said in a report published on Thursday. "This weakness was widespread, ...
Business Insider   |   Thu, 11 Aug 2016 07:24:42

Why Hungarian migrants want to move to Brexit Britain

Since the referendum, migrants coming to the UK to live, work and study have faced considerable uncertainties - but some remain determined to settle in the UK.
BBC   |   Thu, 11 Aug 2016 07:06:06

UK house price growth slows after Brexit vote - business live

All the latest economic and financial news, including new signs of weakness in the British economy 8.03am BST Britain's house prices rose at the slowest rate in three years in July, in the latest sign that the EU referendum has hurt the economy. "The rebound in the key 12 month ...
Graeme Wearden / Guardian   |   Thu, 11 Aug 2016 07:03:37

Multiculturalism can foster a new kind of post-Brexit Englishness

One of the questions raised by the UK's decision to leave the EU is the extent to which national identity is becoming a stronger factor in British politics. Tariq Modood writes that the rise of Scottish and English nationalism poses a potential threat to British identity, but that a new ...
Blog Team / EUROPP   |   Thu, 11 Aug 2016 06:30:41

New money raised by equity ETFs drops 85%

Volatile trading conditions early in the year and Brexit vote scared investors
FT   |   Thu, 11 Aug 2016 06:30:27

Brexit is threatening to eradicate Britain's pension payouts

Britain's pension industry could find itself in difficulty because its key asset holdings – government bonds – have negative yields. Pension funds, the money that is invested to make returns for workers and are then given out once they retire, are among the largest holders of UK government debt. They ...
Lianna Brinded / Business Insider   |   Thu, 11 Aug 2016 06:11:31

In the papers: Brexit uncertainty hits housing market hard

The Daily Telegraph Number of homes on the market at record low as Brexit uncertainty hits house prices: The number of homes on the market hit a record low in July as house price growth slumped on the uncertainty in the wake of the Brexit referendum. Lookers to sell parts ...
Proactive Investors   |   Thu, 11 Aug 2016 06:07:00

EU nations' red lines for Brexit: a first look

U.K. Prime Minister Theresa May faces a daunting array of demands from European Union nations when the time comes to negotiate Britain's relationship with the bloc, an analysis of the 27 other members shows. The survey - based on responses from ministries, public comments from government officials and interviews with ...
Alan Crawford / Japan Times   |   Thu, 11 Aug 2016 05:39:57

Further reading

Elsewhere on Thursday, - "Trite phrases like 'move on', 'be positive', 'just do it' and 'we are where we are' reflect a failure to understand the magnitude of the Brexit task." - Krugman on the revealed murkiness of zero-bound economics. - Adair Turner: The question isn't whether helicopter money would ...
FT Alphaville   |   Thu, 11 Aug 2016 05:22:02

Singapore cuts 2016 GDP forecast after disappointing Q2 growth

Singapore downgraded its growth forecast as the economy expanded slower than estimated amid Brexit wories and weak global demand.
CNBC   |   Thu, 11 Aug 2016 02:12:00

House prices pause for breath post-Brexit, say surveyors

A poll of surveyors suggests that the UK housing market paused for breath after the Brexit vote, but could take off again over the next 12 months.
BBC   |   Wed, 10 Aug 2016 23:18:27

Stocks Fall as Energy Sector Weakens

U.S. stocks fell, dragged down by energy shares as oil prices slumped.
WSJ   |   Wed, 10 Aug 2016 23:04:53

Will bank deposit interest rates go negative?

Last week, the Bank of England (BOE) reduced the bank base rate in the UK for the first time since March 2009 and said it expects to cut it further towards zero in the months ahead. In response to the June vote in the Brexit referendum, the BOE cut interest ...
Edward Rizzo / Times of Malta   |   Wed, 10 Aug 2016 22:01:00

Canada's Sun Life Financial profit slumps 34 pct

Aug 10- Canadian insurer Sun Life Financial reported a near 34 percent drop in quarterly profit, hurt by volatile equity markets following the Brexit vote and low interest rates. Sun Life's net income fell to C $480 million, or 78 Canadian cents per share, in the second quarter ended June ...
CNBC   |   Wed, 10 Aug 2016 21:21:00

RBS Will Have A Tough Time In The Coming Years, But The Impact On Its Share Price Is Exaggerated

The Royal Bank of Scotland Group has seen its shares sink by nearly 50% since the beginning of the year. While major banking giants globally have seen their share prices take a hit following the U.K.'s Brexit vote, RBS has been hit particularly hard by the fact that its revamped ...
Trefis Team, Contributor / Forbes   |   Wed, 10 Aug 2016 19:08:00

City turbulence drives some bond yields into negative territory

Bank of England says it could have bought almost five times as many bonds as it needed on third day of latest QE Turbulence in City markets have driven yields on some bonds into negative territory as the Bank of England pressed on with its post-Brexit economic recovery plan. Threadneedle ...
Jill Treanor and Larry Elliott / Guardian   |   Wed, 10 Aug 2016 19:04:08

Bank Stocks to Buy As Sector Joins Rally

The July jobs report finally pushed banks back over their pre-Brexit levels.
Barrons   |   Wed, 10 Aug 2016 18:59:49

Former SNP Cabinet minister warns Nicola Sturgeon against second independence referendum based on Brexit

Simon Johnson / Telegraph   |   Wed, 10 Aug 2016 18:44:59

UK Will Need More Than China Trade to Offset Brexit

China trade is set to disappoint Brexiteers. Despite hopes that negotiating its own trade agreements would boost the U.K. economy, even the worlds' biggest countries won't serve as a magic trade bullet. For example, the U.K.'s trading relationship with China is much smaller than you'd expect. Signing a good trade ...
Alfonso Esparza / OANDA   |   Wed, 10 Aug 2016 18:24:59

BOE Regional Agents Survey Shows UK Businesses Have Pessimistic Forecasts

Britain's businesses expect the vote for Brexit to lead to weaker investment, hiring and turnover over the coming year, according to a nationwide study by the Bank of England. The monthly health check by Threadneedle Street's regional agents found that construction and business services were the two gloomiest sectors during ...
Alfonso Esparza / OANDA   |   Wed, 10 Aug 2016 18:23:52

The Last Time This Happened, US Equities Crashed

Something extremely unsusual just happened. The post-Brexit, post-QE collapse in UK Gilt yields has extended the 'cheapness' of US Treasuries to over 100bps. This is the widest absolute spread since May 2000 but at almost 3x, this is by far the greatest relative differential in history. As gilt yields collapse ...
Zero Hedge   |   Wed, 10 Aug 2016 18:12:18

Sausages, tea and tradition: the top brands and foods which set Brexiteers apart

Telegraph   |   Wed, 10 Aug 2016 17:44:59

Big cuts for Royal Mail and Post Office workers' pensions

Backlash expected over part-closure of defined-benefit schemes, which companies say are unaffordable Nearly 100,000 workers at the Royal Mail and the Post Office are likely to be the earliest victims of the post-Brexit turmoil in markets as the companies plan big cuts to their "simply unaffordable" pension schemes. One manager ...
Patrick Collinson / Guardian   |   Wed, 10 Aug 2016 17:41:48

Charles C.W. Cooke on Brexit, #NeverTrump, and the Future of National Review: New at Reason

Download Video as MP4 "One of the things I always liked about National Review is that we weren't just there to go after the Left," says Charles C.W. Cooke, the new editor of National Review online. "But we were also there to police our own side." Cooke sat down with ...
Hit & Run   |   Wed, 10 Aug 2016 17:41:00

Prudential Planning Its Own Brexit

The Rock is drifitng towards Dublin.
Jon Shazar / Dealbreaker   |   Wed, 10 Aug 2016 17:38:36

Italy at the Brink: From Renzi's Referendum to Italexit?

photo: Davide Oliva Europe's Summer of Discontent In the aftermath of the Brexit tensions, Italy is defying Brussels to bail out troubled banks and preparing for constitutional referendum in October. If Prime Minister Matteo Renzi fails to achieve adequate support, economic destabilization will shift from the UK to Italy - ...
EconoMonitor   |   Wed, 10 Aug 2016 17:04:38

Sturgeon sets out £100m spending boost

Extra infrastructure funding designed to soften impact of Brexit vote on ailing Scottish economy
FT   |   Wed, 10 Aug 2016 16:37:34

PREVIEW - Aldermore, Derwent London and others to report

Challenger bank Aldermore Group PLC (LON:ALD) reports interims on Thursday and like all in the banking sector (well all sectors, actually) traders will be keen to hear what the outlook is like post the Brexit vote. It comes after some mixed noises from the big players recently, noteably being from ...
Proactive Investors   |   Wed, 10 Aug 2016 16:13:00

Increased concerns for the global economy - Wells Fargo

According to analysts from Wells Fargo, the Brexit referendum and the latest US GDP data put downward pressure on global economic activity.
Matías Salord / FX Street   |   Wed, 10 Aug 2016 15:19:08

RBS, StanChart reopen UK AT1 post-Brexit vote

Royal Bank of Scotland smashed open the Additional Tier 1 market on Wednesday, attracting US$15bn of demand for its first issue in the format for over a year and setting up Standard Chartered for an imminent follow-up transaction.
IFR   |   Wed, 10 Aug 2016 15:07:00

The Eurozone Crisis: Monetary Union and Fiscal Disunion, Part 1

Alejandro Reuss Alejandro Reuss is co-editor of Triple Crisis blog and Dollars & Sense magazine. He is a historian and economist. This is the first part of a two-part series. His article "An Historical Perspective on Brexit: Capitalist Internationalism, Reactionary Nationalism, and Socialist is available here. In 2007-8, after the ...
TripleCrisis   |   Wed, 10 Aug 2016 15:00:52

Trade with China won't save post-Brexit Britain

A U.K.-China trade deal won't be the transformative move that pro-Brexit supporters are expecting, according to the Institute for Fiscal Studies.
CNN   |   Wed, 10 Aug 2016 14:56:52

Ministry of Defence 'facing extra £700m costs post Brexit'

The fall in sterling after the Brexit vote means the Ministry of Defence has to find up to £700m a year more to cover the cost of military equipment, experts say.
BBC   |   Wed, 10 Aug 2016 14:40:33

CREDIT SUISSE: Mark Carney could be forced to eat his words and introduce negative interest rates

Bank of England governor Mark Carney may be forced to eat his words, and backtrack on his adamance that the UK's central bank will not introduce negative interest rates during his tenure, according to analysts from Credit Suisse. Since Carney took over as governor in 2013, the monetary landscape has ...
Business Insider   |   Wed, 10 Aug 2016 14:37:46

Scottish government to spend £100m to cushion post-Brexit vote effects

Money for capital projects to stimulate economic activity to come from huge budget underspend in 2015 The Scottish government is redirecting £100m from a budget underspend last year into a new initiative to help cushion the economy from the impacts of a post-EU referendum downturn. Nicola Sturgeon, the first minister, ...
Severin Carrell Scotland editor / Guardian   |   Wed, 10 Aug 2016 12:49:46

Norway has little to lose from having the UK in EFTA

Norway's Minister for EEA and EU Affairs has suggested the country might not welcome the UK in European Free Trade Association (EFTA) post-Brexit. But such an argument makes little sense, writes Raoul Ruparel. The post Norway has little to lose from having the UK in EFTA appeared first on Open ...
Open Europe   |   Wed, 10 Aug 2016 12:14:15

Procrastinating on August 10, 2016

**Over at [Equitable Must-Reads:** * **Kavya Vaghul**: _[Preschool is about more than a third grade test score - Equitable Growth][]_ * **Donald Trump** (2012): [_Time to Get Tough: Making America #1 Again_][] * **Nicholas Crafts**: _[Brexit: Lessons from History][]_ * **Paul Krugman:**: _[Prudential Macro Policy: Fiscal][]_ * **Aaron Carroll**:...
Grasping Reality   |   Wed, 10 Aug 2016 11:56:08

Prudential may relocate M&G funds following Brexit vote

Head of fund management arm says Dublin and Luxembourg are options in seeking to be closer to 'important' EU client base The new head of Prudential's M&G fund management arm, Anne Richards, has said it is considering moving funds to Dublin and Luxembourg following the Brexit vote. Richards, who joined ...
Julia Kollewe / Guardian   |   Wed, 10 Aug 2016 11:55:24

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   |   Wed, 10 Aug 2016 11:19:13

Morning News: August 10, 2016

Japan's Plunging Jobless Rate Is All About Aging, Not Abenomics BOE Finds Its Brexit Warnings Coming True in Company Plans Why Did Productivity Fall? Look [...]
Eddy Elfenbein   |   Wed, 10 Aug 2016 11:17:04

Brexit, Trump: the trouble with claiming we're in a post-truth era | Steve Richards

It's not just political outsiders who tell lies. Mainstream parties aren't always able to be honest with voters either A neat, if alarming, explanation for the astonishing rise of political outsiders across the western world is the idea that we live in a "post-truth era": one in which support for ...
Steve Richards / Guardian   |   Wed, 10 Aug 2016 06:00:04

AUD downside should be more limited vs GBP - Westpac

Sean Callow, Research Analyst at Westpac, suggests that the Bank of England's aggressive response to the Brexit vote should weigh on sterling for some
Sandeep Kanihama / FX Street   |   Wed, 10 Aug 2016 05:19:26

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: 11 Aug 2016     |     enquire