Brexit News Archive: 01 Jul 2016

Rate cut could hinge on Q2 inflation

The Reserve Bank says Brexit fears won't hit the global economy too hard, but more sluggish local consumer prices could set the scene for an August rate cut.
SMH   |   Tue, 19 Jul 2016 22:16:07

Classic

Time for a little update on recent worries, memes and phobias. Lord knows, there's no shortage. First, Brexit. Hope you don't own property in London. It's already shaping up to be what the 'remain' guys forecast - an economic and financial challenge for little, isolated Britain. This week the IMF ...
Greater Fool   |   Tue, 19 Jul 2016 22:11:05

GLOBAL MARKETS-Stocks dip on earnings and growth worries; dollar rises

* Brexit uncertainty prompts IMF to cut global growth forecasts
Reuters   |   Tue, 19 Jul 2016 19:01:01

Hot Spots Short-Term ETF Traders Are Targeting

As the equities market swings, traders have incorporated leveraged and inverse exchange traded funds to jump on short-term opportunities and hedge around events, like the Brexit vote. "If ever there was a market environment for uncertainty hedging, it is now," Andy O'Rourke, Managing Director and Chief Marketing Officer at Direxion, ...
ETF Trends   |   Tue, 19 Jul 2016 18:39:43

Despite Rally, Cash Levels Still At Highest Level Since 2001: Buy Signal For Stocks, Says BofA

Global stocks and riskier junk-bonds have taken flight in the weeks after last month's 'Brexit' vote. The SPDR S&P 500 exchange-traded fund (SPY) has climbed 8% from its low on June 27 and the iShares iBoxx $ High Yield Corporate Bond ETF (HYG) has climbed 4.3% (excluding dividend payouts). And ...
Focus on Funds   |   Tue, 19 Jul 2016 18:22:30

London stocks end flat but smaller stocks feel pulse of possible takeovers

London stocks ended flat on Tuesday although tech stocks fared well as speculation moved onto who might be snapped up next after news this week that Softbank is buying ARM Holdings (LON:ARM) in the wake of a Brexit-fuelled weaker pound. The blue-chip FTSE100 index ended up just 0.03% at 6,697, ...
Proactive Investors   |   Tue, 19 Jul 2016 17:53:00

Tuesday assorted links

1. How sex workers verify the identities of their clients. 2. Chat at the Institute for Economic Affairs with Stephen Davies. We covered Brexit, Trump, the great stagnation, why you won't live to 800, cultural diversity, and much more. I wasn't holding back for this one, and some crowd members ...
Marginal Revolution   |   Tue, 19 Jul 2016 17:45:48

Deutsche Bank: Global Growth Outlook Has Deteriorated Significantly

The global growth outlook for 2016 and 2017 has deteriorated since the start of the year, and Brexit only adds to downside risks, that's Deutsche Bank's observation of the global macro environment. Brigewater Via JPM: Global capex as % of [...]
Value Walk   |   Tue, 19 Jul 2016 17:18:17

Guest Contribution: "Brexit, Trump, and Workers Left Behind"

Today, we are pleased to present a guest column written by Jeffrey Frankel, Harpel Professor at Harvard's Kennedy School of Government, and formerly a member of the White House Council of Economic Advisers. This is an extended version of a column appearing at Project Syndicate, July 13. Many parallels have ...
Econbrowser   |   Tue, 19 Jul 2016 17:02:07

MiB: Richard Haass

This week on our Masters in Business podcast, we speak with Richard Haass, President of the Council on Foreign Relations. This conversation covered everything from Terrorism to Trade to Immigration to Brexit, and given all of the recent events overseas, could not ossibly be more timely. Haass, who has a ...
The Big Picture   |   Tue, 19 Jul 2016 16:00:05

Investors push money under the mattress

Despite the post-Brexit market rally, fund managers have gotten even more wary of taking risks.
CNBC   |   Tue, 19 Jul 2016 15:44:00

Airlines: So Much for Buy Local...

Ever since Brexit, analysts have been touting airline stocks like Southwest Airlines ( LUV ) and Spirit Airlines ( SAVE ) that cater primarily to travelers in the U.S. over Delta Air Lines ( DAL ), United Continental ( UAL ), and American Airlines ( AAL ), which have loads ...
Stocks To Watch   |   Tue, 19 Jul 2016 15:07:35

Under the guise of 'flexibility', Hermes is delivering a raw deal for its workers | Felicity Lawrence

The low-pay scandal at the delivery firm reveals a new norm of the workplace, where apparently 'self-employed' workers are exploited for the sake of a company's profits Want to know why the slogan "take back control" resonated so loudly with people voting for Brexit? One good place to look for ...
Felicity Lawrence / Guardian   |   Tue, 19 Jul 2016 14:15:37

USD/JPY extends gains after US data

USD/JPY extended gains at the beginning of the American session, reaching its highest level since the Brexit vote, as the dollar strengthened broadly.
Ani Salama / FX Street   |   Tue, 19 Jul 2016 13:33:22

IMF:modestly cuts global growth forecast

Brexit expected to have mild impact but agency sites risks of more severe effects
USA Today   |   Tue, 19 Jul 2016 13:01:19

IMF slashes world growth forecasts AGAIN

The U.K's vote to leave the European Union has pushed the International Monetary Fund to cut its world growth forecast for this year and next.
CNBC   |   Tue, 19 Jul 2016 13:00:00

Goldman Sachs continues to slash bonuses

These are challenging times for Wall Street investment banks. Goldman Sachs posted another big drop in revenue as Brexit worries took their toll. Goldman has cut its bonus pool and other expenses as well to compensate.
CNN   |   Tue, 19 Jul 2016 12:41:00

The Global Spread of Trumpism

I flew into Britain on June 23, the day of the Brexit referendum, or "Independence Day" as the country's most popular tabloid, and champion of leaving the European Union, put it. The next morning, results showed that London, Scotland, and Northern Ireland had voted to stay in the EU. But ...
Dominic Tierney / The Atlantic   |   Tue, 19 Jul 2016 12:07:35

10 things you need to know today (spy, spx, qqq, dia, yhoo, ibm, nflx, wfc)

Here is what you need to know. German confidence was hit hard by Brexit. The ZEW Indicator of Economic Sentiment for Germany plunged 26 points in July to -6.8. "Uncertainty about the [Brexit] vote's consequences for the German economy is largely responsible for the substantial decline in economic sentiment," professor ...
Money Game   |   Tue, 19 Jul 2016 11:05:00

Santander's fintech VC firm got another $100 million to invest - here is what it's looking for

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   |   Tue, 19 Jul 2016 11:02:01

No Article 50 Until 2017

Jason Coppel QC, speaking for Brexit Secretary David Davis, has told the High Court that Article 50 will not be triggered this year. Some Brexiters will be nervous about this, but there is no legal imperative to trigger it immediately and it would be politically unwise to do so until ...
Guy Fawkes' blog   |   Tue, 19 Jul 2016 10:56:42

Remorse and reflection

As a major influence on events, Brexit might not have shuffled off the stage but the world is settling down to the realities of separation; in terms more real to many of us, the marriage has broken down and we've packed our bags and moved out.
IFR   |   Tue, 19 Jul 2016 10:07:00

Even before Brexit, Theresa May's laws made Britain a hostile place for migrants

In the aftermath of the UK's vote for Brexit, the National Police Chiefs Council has documented a 42% increase in race-hate incidents. This escalation in racial tension comes as living as a migrant in the UK has been made even more difficult in recent years by laws introduced by Theresa ...
Richard Warren, Phd candidate, Kent Law School, University of Kent / The Conversation   |   Tue, 19 Jul 2016 10:03:32

Theresa May chairs first cabinet meeting as PM

Theresa May is chairing her first cabinet meeting since becoming PM, telling her ministers she does not want the UK to be "defined by Brexit".
BBC   |   Tue, 19 Jul 2016 09:14:31

Brexit and the EU's divorce manual

Article 50 provides clues on how the UK will break up with Brussels
FT   |   Tue, 19 Jul 2016 04:30:03

We Are Where We Were

It's been an amazing week, and in effect the first five days after the Brexit vote were all trend days, with ES now kicking around much the same area this afternoon as it was on the afternoon before the vote. What does this all mean? Not much I suspect. The ...
Tim Knight   |   Fri, 1 Jul 2016 22:38:54

"6-Day Winning Streak Leaves Mortgage Rates Near All-Time Lows"

From Matthew Graham at Mortgage News Daily: 6-Day Winning Streak Leaves Rates Near All-Time LowsMortgage rates fell moderately today, adding a 6th day to a winning streak that began with last week's Brexit news and bringing rates right to the brink of all-time lows.... bringing some lenders from 3.625% to ...
Calculated Risk   |   Fri, 1 Jul 2016 22:09:00

Encouraging signs

The news is certainly mixed these days. Britain's Brexit vote stirs fears of a global slowdown in trade, which would surely be bad for the economic outlook. But that's still something out on the horizon. In the meantime, more recent data point to a pickup in growth that began a ...
Calafia Beach Pundit   |   Fri, 1 Jul 2016 21:21:00

German connection

The UK's Brexit vote is testing the cultural bonds between Britain and Berlin, but film studio boss Charlie Woebcken says "these links aren't going away".
BBC   |   Fri, 1 Jul 2016 21:00:28

Asset Class Scoreboard: Real Estate, Commodities, Bonds Lead

Asset Class Scoreboard For the second time in 2016, Managed Futures posted a monthly performance above 4%, thanks to the Brexit volatility that shocked the market last week. Additionally, the SG CTA Index, posted its second best single day performance [...]
Value Walk   |   Fri, 1 Jul 2016 20:35:40

Don't let's be beastly to the Brits, says Bundesbank

Brexit vote reflects a broader Euroscepticism, says Weidmann
FT   |   Fri, 1 Jul 2016 20:19:49

Treasury ETFs Climb as Yields Hit Record Lows

Treasury bond exchange traded funds maintained their momentum, with benchmark yields on 10-year notes dipping to a new record low on Friday, as investors feared Brexit would weigh on global growth and cause the Federal Reserve to push off interest rate hikes. On Friday, the iShares 7-10 Year Treasury Bond ...
ETF Trends   |   Fri, 1 Jul 2016 20:17:13

Banks on edge over UK passporting

Banks are scrambling to establish how post-Brexit changes in the UK's rights for financial services will impact on their businesses, putting thousands of jobs in London in the balance.
IFR   |   Fri, 1 Jul 2016 20:00:00

Burn Through Those Last Few Minutes Before The Holiday Weekend With The Consumerist Quiz

Look, we know you probably don't want to be here. Everyone else in the office is already gone, but you're stuck holding down the fort, pretending to be reading emails when you're really just seeing how many pages of "Brexit" Google results you need to go through before finding some ...
Consumerist   |   Fri, 1 Jul 2016 19:45:46

Short-Termism Gets Brexecuted

The S&P 500 as fast approaching all-time highs again after the brief Brexit scare. I guess that was the fastest panic and recovery during the current bull market. Of course, this has been a repeat theme over the last 7 years. Investors were so badly scarred after the 2008 crisis ...
Pragmatic Capitalism   |   Fri, 1 Jul 2016 19:42:24

Austria Will Hold Second Presidential Election After Voting Irregularities Are Uncovered

Alexander Van der Bellen and Norbert Hofer. (screenshots via France24 ) The United States is not alone in dealing with allegations of a "rigged" democratic system. It is also not alone, as the chaos of Brexit has taught us, in dealing with a growing anti-immigrant sentiment represented by presidential candidates. ...
truthdig   |   Fri, 1 Jul 2016 19:23:25

Price Discovery - R.I.P.!

Submitted by David Stockman via Contra Corner blog, That was quick. With practically of the Brexit loss recovered in four days and the market now up for the quarter and the year, what's not to like? After all, the central banks are purportedly at the ready, and, in the case ...
Zero Hedge   |   Fri, 1 Jul 2016 19:10:00

Battle of Somme Centennial Marked

Amid Brexit chaos, British and French leaders gathered on the 100th anniversary of World War I's bloodiest battle to commemorate a conflict in which tens of thousands of British soldiers died defending French soil.
WSJ   |   Fri, 1 Jul 2016 19:07:04

Steven Spielberg's "The BFG" Is a Forced March of Fun

Children's worst new lesson in the British political process comes not from the Brexit fiasco but from Steven Spielberg's live-action adaptation of Roald Dahl's "The BFG." When the titular Big Friendly Giant (Mark Rylance) and the little girl, Sophie (Ruby Barnhill), who lives in his lair need the help of ...
New Yorker   |   Fri, 1 Jul 2016 18:56:48

Layoffs Watch '16: Pershing Square Cuts Employees, But Not Because Of Performance Or Anything

Don't put this on Herbalife. Or Valeant. Or Brexit.
Dealbreaker   |   Fri, 1 Jul 2016 18:40:28

Bitcoin either goes to zero or it goes supernova

Bitcoin either goes to zero or it goes supernova I've been inundated with questions from many of you following the recent events. Brexit, that is, not Justin Timbertrouser's latest antics. While I can't publish all of them, I've selected what I [...]
Value Walk   |   Fri, 1 Jul 2016 18:22:56

Post-Brexit EU May Be Stranded By Its Own Data Rules

The EU nations may become "less happier lands" post-Brexit if their privacy regulations turn them into a data island.
Daniel Fisher, Forbes Staff / Forbes   |   Fri, 1 Jul 2016 18:11:00

Young people on Brexit's voter turnout

Millennial FT readers explore the referendum's generational divide
FT   |   Fri, 1 Jul 2016 18:08:09

The UK Independence Party was central to the Brexit vote

One way to understand the Brexit result, in which the United Kingdom voted to leave the European Union, is to study which areas of the UK supported "Leave" and which supported "Remain." YouGov, for example, provided this analysis and map before last week's voting showing how support varied across the ...
David C. Parker / Vox   |   Fri, 1 Jul 2016 18:00:02

Investors see even lower bond yields from Brexit fallout

NEW YORK, July 1 (Reuters) - Britain's vote to leave the European Union last week triggered a worldwide stampede into U.S., German, Japanese and even British government debt, sending their yields to...
Reuters   |   Fri, 1 Jul 2016 17:57:40

Bargain Hunters Prop Up Art Market In Brexit Week

As sterling fell this week, international art buyers snapped up bargains in London.
Kathryn Tully, Contributor / Forbes   |   Fri, 1 Jul 2016 17:49:00

Letter: London After

The City of London Corporation writes that “there is no reason London will not still maintain its position as a world leader.”
/ NY Times   |   Fri, 1 Jul 2016 17:47:46

Brexit - 'We want to be Big Scotland'

It is torn between wanting to stay in the EU, but knowing independence will not guarantee its place
FT   |   Fri, 1 Jul 2016 17:41:37

High-Yield Selloff Could Get Worse

High-Yield Selloff Could Get Worse "If the 8% decline in the trade-weighted British pound fails to kick up much dust in U.S. credit markets, it would be a historical outlier," that's according to credit analysts at Deutsche Bank, which published [...] The post High-Yield Selloff Could Get Worse appeared first ...
Value Walk   |   Fri, 1 Jul 2016 17:40:21

Brexit? What Brexit?

After a two-day global freakout, financial risk markets have staged a relentless four-day rally. The SPDR S&P 500 ETF (SPY) fell 1.8% on Monday but is still poised to finish the week with a gain of 3.3%. Wow. And then there's the CBOE Volatility Index (VIX): the market's "fear gauge" ...
Chris Dieterich / Focus on Funds   |   Fri, 1 Jul 2016 17:38:11

Stocks have come roaring back since Brexit. So everything's fixed, right? (DIA, SPX, SPY, QQQ, TLT, IWM)

According to the market's latest response to the Brexit vote, everything is fine. After a sharp drop in the immediate aftermath of the UK's vote to leave the EU, stocks have rallied the past few days with some equity benchmarks trading right where they were before the referendum. Oleg Melentyev ...
Matt Turner / Business Insider   |   Fri, 1 Jul 2016 17:35:10

FTSE 100 defies Brexit turmoil and hits 10-month high

This week's rebound was a sharp contrast to just a week earlier when investors had woken up to the news Britain had voted to leave the EU The prospect of interest rate cuts and a flurry of bargain-hunting by stock market investors has helped the FTSE 100 shrug off the ...
Katie Allen / Guardian   |   Fri, 1 Jul 2016 17:34:31

A week after Brexit, it's buy, buy, buy

Just a week after Britain shook up the world by voting to leave the EU, market behavior has done a 180-degree turn.
CNBC   |   Fri, 1 Jul 2016 17:23:00

What Brookings experts are saying about Brexit

UPDATED, 6/30/16 Voters in the United Kingdom have voted to leave the European Union. British PM David Cameron has resigned. The choice in favor of "Brexit" will have significant economic and political consequences that Brookings scholars have been analyzing and commenting on. Here is some of what they are saying. ...
Fred Dews / Brookings   |   Fri, 1 Jul 2016 17:19:00

Bundesbank president says UK should get a fair Brexit deal

'Neither side has an interest in putting up trade barriers,' says Jens Weidmann, who also sits on the ECB's governing council The European Union should give Britain a quick and fair exit deal to minimise the economic cost and not hinder the process for the sake of setting a political ...
Reuters / Guardian   |   Fri, 1 Jul 2016 17:16:08

London bankers face Brexit choice: lobby or leave

By Sinead Cruise and Lawrence White LONDON (Reuters) - A week after Britons voted themselves out of the European Union, many London-based bankers and their employers face two options if they are to secure their futures: lobby or leave. Some investment banks, anxious not to stir speculation of an exodus ...
Business Insider   |   Fri, 1 Jul 2016 17:04:58

Germany aims for post-Brexit continuity with balanced-budget plans

BERLIN, July 1 (Reuters) - Germany wants to send a message of "reliability and continuity" by sticking to plans for a balanced budget over the next four years, despite the shock of Britain's vote...
Reuters   |   Fri, 1 Jul 2016 17:00:02

The economic risks of Brexit contagion

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

Nowhere To Hide In Europe - Equity Correlations Are Historically High

Submitted by Eric Bush via Gavekal Capital blog, Equity correlations have spiked to the highest level in years presumably thanks to Brexit. The 20-day correlation between the GKCI DM index and the MSCI World Index is at the highest level since 2011. The correlation between EM and DM stocks is ...
Tyler Durden / Zero Hedge   |   Fri, 1 Jul 2016 16:55:00

London bankers face Brexit choice: lobby or leave

LONDON, July 1 (Reuters) - A week after Britons voted themselves out of the European Union, many London-based bankers and their employers face two options if they are to secure their futures: lobby...
Reuters   |   Fri, 1 Jul 2016 16:51:04

Taking Refuge in Dollar Could Expose World Economy to New Perils

After the Brexit vote, the American currency is soaring — threatening a fragile recovery in the United States and risking trouble for emerging markets.
PETER S. GOODMAN / NY Times   |   Fri, 1 Jul 2016 16:46:33

6 Brexit Lessons for Your Retirement Nest Egg

eggs_flickr_united soybean board.jpg Flickr/United Soybean Board By Suman Bhattacharyya,The Fiscal TimesJuly 1, 2016 When a majority of Britons voted to leave the EU last week, it set off a wild ride of global stock markets. Investors worldwide lost $3 trillion over two days before recovering $2 trillion over the following ...
jherr / Fiscal Times   |   Fri, 1 Jul 2016 16:43:33

Interview with Geert Wilders: 'The Netherlands Would Profit from Leaving the EU'

Could Brexit lead other countries to seek to leave the European Union? SPIEGEL spoke with far-right Dutch populist Geert Wilders about how he wants to use a "Nexit" to prevent the of the Netherlands.
Spiegel   |   Fri, 1 Jul 2016 16:42:59

Brexit Aftershocks: An Inside Look at the EU's Raging Power Struggle

In response to Brexit, European Commission President Juncker wants deeper EU integration. German Chancellor Merkel does not. SPIEGEL takes you inside the vast EU power struggle triggered by the UK referendum. By SPIEGEL Staff
Spiegel   |   Fri, 1 Jul 2016 16:42:16

The Worst of the Brexit Fallout Is Still to Hit the U.K.

As unemployment ticks up and house prices fall ordinary citizens will feel the real impact of the market shock
Conal Urquhart/London / Time   |   Fri, 1 Jul 2016 16:38:44

Brexit: Straws in the Wind

Over the past decade, the UK economy has presented a puzzling picture. On the one hand, RGDP growth has been ... View the full post at: Brexit: Straws in the Wind
Scott Sumner / Wall Street Pit   |   Fri, 1 Jul 2016 16:36:54

UK shelves balanced budget goal as Brexit vote roils economy

LONDON (AP) - Britain's Treasury chief on Friday abandoned the government's long-held goal of balancing the nation's books by 2020, warning that the country's vote to leave the European Union had sent shock waves and instability through the U.K. economy.
Associated Press   |   Fri, 1 Jul 2016 16:36:30

Pro Uncut: Fed's Stanley Fischer

Fed's Stanley Fischer discussed his views on Brexit and the state of the economy in an interview on CNBC Friday.
CNBC   |   Fri, 1 Jul 2016 16:31:00

Donald Trump, Brexit Are Blowback From Years of Anti-Government Rhetoric

Donald Trump and Brexit are the product of years of anti-government rhetoric.
David Brodwin / U.S. News   |   Fri, 1 Jul 2016 16:30:00

Hate crimes up fivefold

Police in Britain have recorded a dramatic rise in racist attacks in the wake of Brexit, with five times the usual number of incidents reported in the week since the country voted in a referendum to leave the European Union.
CNN   |   Fri, 1 Jul 2016 16:26:14

Brexit crisis that wasn't

The public might assume, after hearing dire warnings, that the British stock market had collapsed. In fact, the opposite has happened.
CNBC   |   Fri, 1 Jul 2016 16:26:00

Brexit touches a nerve in France

Far right leader buoyed by referendum result that legitimises core policy
FT   |   Fri, 1 Jul 2016 16:24:38

U.K. Gilt Market Shows Scrapping the Budget Rule Is a Good Idea

Brexit has opened the door to a bit of British stimulus. Since the U.K.'s vote to leave the European Union last Thursday, yields on 10-year U.K. government bonds have tumbled to 0.883% from 1.363%. Yields move opposite to prices, so a fall means there was greater demand to buy the ...
MoneyBeat   |   Fri, 1 Jul 2016 16:23:41

How to Live Better as More of Us Live Longer

iStockphoto By Michael Hodin,The Fiscal TimesJuly 1, 2016 So we're all caught up on the effects of Brexit and the presidential campaign that's in full swing. But aside from the political crisis of the moment, we do seem finally to be recognizing, in the second decade of the 21st century, ...
jherr / Fiscal Times   |   Fri, 1 Jul 2016 16:06:11

Common Sense: After Finding a New London for the Financial World to Call Home

Our columnist handicaps the race for the biggest financial prize since London was thrust to the fore.
JAMES B. STEWART / NY Times   |   Fri, 1 Jul 2016 16:01:53

Independence and Insanity

So I wrote a long and winding version of my reflections on Brexit for Law and Liberty. It features both spunk and gratuitous nudity.It's only natural, especially this time of year, that many commentators have compared Brexit with the American Declaration of Independence, both the classic statement and the revolutionary ...
National Review   |   Fri, 1 Jul 2016 16:00:00

A Yield of Dreams in U.S. Corporate Bonds

With bond yields around the world falling further in the wake of Brexit, U.S. corporate bonds are the only game left in town.
WSJ   |   Fri, 1 Jul 2016 15:57:03

Brexit consequences: Modest recession in the UK - Wells Fargo

According to analysts from Wells Fargo, uncertainty related to the Brexit referendum is likely to lead to a modest recession in the UK. Regarding the...
Matías Salord / FX Street   |   Fri, 1 Jul 2016 15:55:17

Could Brexit Save The BBC News TV Channel?

Will he close his very successful 24-hour TV news channel, or not? BBC director-general Tony Hall's executive board has to make thedecision later this month (Photographer: Jason Alden/Bloomberg) In the midst of financialand political meltdown here in the UK, Brexit might lead to at least one desirableresult - the rescue ...
Neil Midgley, Contributor / Forbes   |   Fri, 1 Jul 2016 15:53:00

WSJ City's Brexit Briefing: Gove Slams City Pay, Truell Says Look East, LSE Prepares for Vote

Good afternoon from London. Here's essential reading for the City on today's Brexit developments MUST READS FROM WSJ CITY Michael Gove, who's set his sights on Tory leadership, slammed the City. In a speech Friday he hit out at high salaries and talent, claiming that too many in financial services ...
Phillipa Leighton-Jones / MoneyBeat   |   Fri, 1 Jul 2016 15:52:31

A week after Brexit, 5 things you need to know

Brexit shattered the post-war consensus in Europe. Markets were stunned. Calm has returned but for how much longer?
CNN   |   Fri, 1 Jul 2016 15:49:04

Kolanovic Sees Risk Ahead, Brexit Crash Similar To August 2015

JPMorgan's quant master Marco Kolanovic looks at the stock Brexit crash and rebound and sees similarities with the August 2015 version. In a June 30 report emailed to clients and reviewed by ValueWalk, he says the Brexit vote was "largely a [...] The post Kolanovic Sees Risk Ahead, Brexit Crash ...
Mark Melin / Value Walk   |   Fri, 1 Jul 2016 15:47:58

Post Brexit, will a right wing goverment wash its hands of the NHS?

The vote for Brexit has not changed the challenges facing the NHS a bit - but it has probably made it much harder to meet them. The vote for Brexit - and the economic and political instability it has ushered in - is a recipe for huge risk and uncertainty ...
Kailash Chand / Open Democracy   |   Fri, 1 Jul 2016 15:43:58

Brexit and the Crisis of Capitalism

If you collapse these extractive, debt-dependent crony-capitalist cartels, you collapse the entire status quo. Thousands of commentaries have been issued about Brexit in the past week. I've written four myself. Most discuss Brexit as the result of immigration issues, class war, political theater, a reaction against the European Union's bureaucratic ...
Of Two Minds   |   Fri, 1 Jul 2016 15:40:00

How the Top US Money Center Banks Are Responding to the Brexit

Watching the massive fallout and then recovery within broad markets, we are beginning to realize that the Brexit provided a very attractive entry point into a fair number of industries. Granted, the... BAC C JPM WFC 247chrislange bank building
247chrislange / 24/7 Wall St.   |   Fri, 1 Jul 2016 15:39:09

Bond yields fall to record lows

UK 10-year gilt extends post-Brexit drop below 0.8 per cent from 1.35 per cent
FT   |   Fri, 1 Jul 2016 15:39:06

4 Brexit Bargains With Big Dividends

Right now, the market only cares about one thing: Brexit. The market is volatile-which means now is a time to buy, buy and buy more as fears drive stocks too cheap. But the simple fact is no one knows exactly how Brexit will impact the world's various economies. For sure, ...
Brett Owens, Contributor / Forbes   |   Fri, 1 Jul 2016 15:37:00

Businesses will have to live with Brexit uncertainty

Andrew Sentance / Telegraph   |   Fri, 1 Jul 2016 15:35:11

Italy Just Bailed Out Another Failed Bank, May Use Pension Funds For Future Bank Rescues

Despite - or perhaps due to - Italy's failed attempt to slide a state-funded €40 billion recapitalization attempt past Angela Merkel while blaming it on Brexit, and coupled with a bailout proposal to provide €150 billion in liquidity to insolvent banks, overnight we got yet another confirmation that the biggest ...
Zero Hedge   |   Fri, 1 Jul 2016 15:34:28

Holiday guide to Brexit: 5 things you need to know

Brexit shattered the post-war consensus in Europe. Markets were stunned. Calm has returned but for how much longer?
CNN   |   Fri, 1 Jul 2016 15:32:54

Fed's Stanley Fischer Says Brexit Implications Still Being Evaluated

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

Britain's International Banks Have the Last Laugh After the Brexit Vote

HSBC and Standard Chartered share prices are higher than they were before the U.K's referendum on EU membership.
Mike Bird / MoneyBeat   |   Fri, 1 Jul 2016 15:26:06

Racist graffiti scrawled outside Spanish school in London

British police report sharp spike in such incidents after Brexit vote
Ana Carbajosa / EL PAÍS   |   Fri, 1 Jul 2016 15:24:10

Renzi on Brexit: Europe can go back to being itself

Telegraph Video / Telegraph   |   Fri, 1 Jul 2016 15:23:09

What happens now the UK has voted Brexit - and what is Article 50?

Matthew Holehouse / Telegraph   |   Fri, 1 Jul 2016 15:21:17

Off The Cuff: The Prosperity Pie Is Shrinking

In this week's Off The Cuff podcast, Chris and Mish Shedlock discuss: The Battle Behind Brexit An underlying story of the masses vs the elites The Prosperity Pie Is Shrinking The macro issue of our time Election Rigging A near-certainty at this point Gold & Silver Streak Finally! Some upward ...
Chris Martenson   |   Fri, 1 Jul 2016 15:16:11

Labour sets out 5 'red lines' on Brexit

Shadow chancellor says deal must protect City and keep EIB membership
FT   |   Fri, 1 Jul 2016 15:14:17

Gold price jumps 26% in first half

Gold enjoyed another day of gains on Friday, capping off an excellent week for the precious metal following last week's Brexit decision. The metal - as expected - reacted positively to the uncertainty caused by the UK's decision to leave the European Union. In times of market volatility, gold is ...
Proactive Investors   |   Fri, 1 Jul 2016 15:06:00

This Week in Pictures: June 25-July 1

Deadly explosions struck Istanbul. New York City celebrated gay pride. And Brexit fallout continued to roil the UK.
Rachelle Klapheke / MSNBC   |   Fri, 1 Jul 2016 15:05:30

[Ilya Somin] Does the Brexit vote prove we shouldn't use referenda to make important decisions?

Some critics of Britain's vote for Brexit argue that it proves that democracies should not use referenda to make important decisions. Elected officials may be better positioned to make such complex choices than generally ignorant voters. Examples of this sort of reaction to Brexit include recent articles by Jason Brennan ...
Ilya Somin / Volokh Conspiracy   |   Fri, 1 Jul 2016 15:05:20

Westminster must choose between leaving the EU and retaining the UK

History shows that attempts by Westminster to force Brexit on Scotland and Northern Ireland could spell the end of the Union. Scottish Parliament debating chamber Can Parliament lead Britain out of the Brexit mess? At the first Prime Minister's Questions after the referendum, PM David Cameron told parliament that 'keeping ...
Jo Murkens / Open Democracy   |   Fri, 1 Jul 2016 15:05:04

Brexit: Over 1 million extra young voters if we reform voting system

Daniel Dunford / Telegraph   |   Fri, 1 Jul 2016 15:04:55

Brexit poses risks to U.S. but Fed still on track -Mester

LONDON, July 1- Britain's vote last week to leave the European Union poses a risk to the U.S. economy but it is too early to know the extent of that effect and the Federal Reserve should not let a lack of clarity distract it from is plan to eventually raise ...
CNBC   |   Fri, 1 Jul 2016 15:03:00

Fed's Mester sees danger in not hiking

The Cleveland Fed president believes the central bank was right to delay raising rates before the Brexit vote.
CNBC   |   Fri, 1 Jul 2016 15:00:00

EasyJet in talks with regulators to continue flying in EU

Budget carrier in talks to obtain air operator certificates, which will maintain access to EU aviation market EasyJet has applied to a number of European countries for authorisation to fly throughout Europe following the UK's vote for Brexit but the airline said it had no plans to move its headquarters ...
Sean Farrell / Guardian   |   Fri, 1 Jul 2016 14:57:51

UK chiefs snap up shares after Brexit vote

Company directors buy £14.3m of own stock following dive in equities
FT   |   Fri, 1 Jul 2016 14:56:11

The 4 Biggest Utilities Winning After Brexit

As the broad markets are recovering, we are starting to realize that the Brexit was a great opportunity to buy into the markets. The Brexit pulled markets back across the board. However, after a few... AEP DUK EIX SO 247chrislange high voltage post
247chrislange / 24/7 Wall St.   |   Fri, 1 Jul 2016 14:51:12

Steel, Aluminum Picks Post-Brexit

AK Steel, U.S. Steel, Steel Dynamics, Constellium and Alcoa offer upside and value.
Barrons   |   Fri, 1 Jul 2016 14:50:51

Post Brexit: Companies Ask "Should I Stay or Should I Go?"

A post-Brexit survey by the Institute of Directors, the United Kingdom's longest running organization for business leaders, found 22% of the respondents are considering moving some of their operations outside of the UK. Of those considering an operations shift, most anticipate a move to another EU country. "Should I stay ...
Andrew Levine, Contributor / Forbes   |   Fri, 1 Jul 2016 14:50:00

A Post-Brexit Opportunity With Small Cap ETFs

Small-cap stocks and the corresponding exchange traded funds are often viewed as volatile instruments, but some argue there could be opportunity with ETFs such as the iShares Core S&P Small-Cap ETF (NYSEArca: IJR), which follows the S&P SmallCap 600 Index, as markets move past the initial Brexit shock. While investors ...
Tom Lydon / ETF Trends   |   Fri, 1 Jul 2016 14:46:07

Dow 18000, That Is All

11 more Dow points and Brexit is a thing of the past... And then there's this...
Zero Hedge   |   Fri, 1 Jul 2016 14:44:08

TREASURIES-U.S. bond prices jump after strong June

Last week's stunning referendum vote by Britain to leave the European Union, or "Brexit," sparked a safe-haven stampede into Treasuries, which posted a 2.325 percent total return in June, according to an index compiled by Bank of America Merrill Lynch. "Brexit will have a significant impact on growth and rates ...
CNBC   |   Fri, 1 Jul 2016 14:44:00

How businesses have reacted to Brexit... so far

Kate Palmer / Telegraph   |   Fri, 1 Jul 2016 14:43:36

Current Links

**Most-Recent Must-Reads:** * **James Pethokoukis**: [The Magical Thinking of America's Pro-Brexit * **Brad Setser**: [Follow the * **Heather Boushey and Kavya Vaghul**: [Working Mothers with Infants and Toddlers and the Importance of Family Economic * **Nick Bunker**: [How the U.S. Housing Boom Hid Weaknesses in the Labor...
Grasping Reality   |   Fri, 1 Jul 2016 14:43:28

Fed's Fischer watching how quickly Brexit unfolds: CNBC

WASHINGTON (Reuters) - The Federal Reserve will have a hard time assessing the impact of Britain's vote to leave the European Union because the exit negotiations could take a long time and other countries might also leave the EU, Fed Vice Chair Stanley Fischer said on Friday. "When it's something ...
Business Insider   |   Fri, 1 Jul 2016 14:42:55

Getting to grips with Brexit

Graham Vidler looks at what Brexit might mean for UK pension schemes.
Graham Vidler / Professional Pensions   |   Fri, 1 Jul 2016 14:42:41

Telegraph: Post-Brexit property planning: should you buy, sell or stick?

Short term = price falls the ''experts'' predict
tom101 / House Price Crash   |   Fri, 1 Jul 2016 14:40:08

As Bank of England Mulls Rate Cuts, More Pound Punishment Likely

The CurrencyShares British Pound Sterling Trust (NYSEArca: FXB) is perhaps the most obvious victim of last week's Brexit decision and that is reflected in the pound exchange traded fund's loss of nearly 5% over the past week. Many currency market observers are forecasting more pain for sterling in the weeks ...
Tom Lydon / ETF Trends   |   Fri, 1 Jul 2016 14:39:41

There's More To The Gold Price Rally Than Brexit

There's More To The Gold Price Rally Than Brexit Brexit has sparked a rush into safe haven assets, and one of the assets that hs benefited most is gold. The price of gold spiked at the end of last week [...] The post There's More To The Gold Price Rally ...
Rupert Hargreaves / Value Walk   |   Fri, 1 Jul 2016 14:35:33

How Will Brexit Affect The London Office Market?

The uncertainty caused by Brexit could cause a drop in office demand, which could worsen if financial services companies decide to relocate some of their operations to Continental Europe at a time which new office developments hit the London market
Carla Passino, Contributor / Forbes   |   Fri, 1 Jul 2016 14:34:00

With Brexit clouding outlook, U.S. payrolls to tilt focus back to Fed

By Hugh Lawson LONDON (Reuters) - Investors will start to peek beyond the Brexit-dominated headlines in the coming week to gauge the outlook for the global economy, and what impact an expected rebound in U.S. job creation will have on central banks eyeing looser policy. Britain's shock vote to leave ...
Business Insider   |   Fri, 1 Jul 2016 14:33:33

Brexit will increase U.K.'s huge debt

More taxes, less spending and no chance of a balanced budget: This is the Brexit Britain envisioned by U.K. Chancellor George Osborne.
CNN   |   Fri, 1 Jul 2016 14:31:16

The UK has one big open border with the EU

The United Kingdom may be an island nation, but it has one, huge open border with the European Union.
CNBC   |   Fri, 1 Jul 2016 14:28:00

GLOBAL ECONOMY WEEKAHEAD-With Brexit clouding outlook, U.S. payrolls to tilt focus back to Fed

LONDON, July 1- Investors will start to peek beyond the Brexit-dominated headlines in the coming week to gauge the outlook for the global economy, and what impact an expected rebound in U.S. job creation will have on central banks eyeing looser policy. Britain's shock vote to leave the European Union ...
CNBC   |   Fri, 1 Jul 2016 14:24:00

Santelli: Maybe the Fed is the problem

CNBC's Rick Santelli reacts to comments by Federal Reserve Vice Chairman Stanley Fischer on Brexit and whether negative rates are right for the U.S.
CNBC   |   Fri, 1 Jul 2016 14:20:00

Economic View: How a Quest by Elites Is Driving and Trump

Unlike the public, economists seem more concerned about the size of the pie than whether everyone gets a slice.
NEIL IRWIN / NY Times   |   Fri, 1 Jul 2016 14:19:19

Biotech Forum Daily Digest: Tesaro's Huge Week! Brexit Losses Gone, Spotlight On Applied Genetics Technologies

Seeking Alpha   |   Fri, 1 Jul 2016 14:18:57

Stocks rally as Brexit losses shrink further

U.S. stocks kicked off the new quarter on the rise, as calm has returned to the market after the Brexit rebound rally and ahead of the long 4th of July weekend.
USA Today   |   Fri, 1 Jul 2016 14:17:57

Fed's Fischer: We have no plans to try negative interest rates

Stanley Fischer said Friday it was too soon to tell whether Britain's vote to leave the European Union had changed the U.S. economic outlook.
CNBC   |   Fri, 1 Jul 2016 14:15:00

Stanley Fischer: Considering Brexit effects

Federal Reserve Vice Chairman Stanley Fischer discusses the market's consideration for potential Brexit pain, and investors betting on central bank action.
CNBC   |   Fri, 1 Jul 2016 14:05:00

Brexit: Breaking Bullish or Bearish?

During my visits with our accounts at the beginning of this week, I didn't sense as much anxiety about the selloff in equities during Friday of last week and this past Monday as I detected among our accounts during the correction at the start of the year. Perhaps we are ...
Dr. Ed Yardeni / Ed Yardeni   |   Fri, 1 Jul 2016 14:01:00

'Polite assassin' Gove outfoxes

A bespectacled intellect with a low-key image, Michael Gove emerged as an ­unlikely force behind the Brexit campaign.
Austrailian   |   Fri, 1 Jul 2016 14:00:00

UK's new PM must usher country through political storm

CNN   |   Fri, 1 Jul 2016 13:59:09

Gold +24% In H1, Silver Hits 2-Year $19 High As Brexit Pushes UK To New QE

Gold +24% In H1, Silver Hits 2-Year $19 High As Brexit Pushes UK To New QE by Adrian Ash, Bullion Vault GOLD and SILVER both headed for new multi-year weekly closing highs in London trade Friday, extending their strongest 6-monthly [...] The post Gold +24% In H1, Silver Hits 2-Year ...
Guest Post / Value Walk   |   Fri, 1 Jul 2016 13:58:55

If Brexit costs a few City bankers their jobs, is that so bad?

Continental Europeans see British exit as an opportunity of a lifetime to swing business their way
Eric Reguly / Globe and Mail   |   Fri, 1 Jul 2016 13:53:24

Markets have been hit hard by Brexit but they have not crumbled - politics has

There is no doubt Brexit has been painful for stock markets and particularly shares of certain companies but it has not been a Lehman style event. Even when facing steep sell offs markets have functioned properly. UK politics has shown much less resolve, raising concerns around long term The post ...
Raoul Ruparel / Open Europe   |   Fri, 1 Jul 2016 13:52:19

Samuel Adams Brewery Is Not The Only One Trying To Register 'Brexit' As A Trademark

It happens every time. There's a new term the public and the media have fallen in love with. This month, nothing has been bigger than "Brexit." Then people try to monopolize that term by filing applications in the U.S. Patent and Trademark Office. Someone cries: "They can't do that!" The ...
Jess Collen, Contributor / Forbes   |   Fri, 1 Jul 2016 13:51:00

Do we really become more bigoted with age? Science suggests yes.

Young people in the United Kingdom were shocked and dismayed when the Brexit vote came in last week. The youth - by a large margin - supported remaining in the European Union. Many of their parents and grandparents did not. "Brexit is a middle finger from the baby boomers to ...
Vox   |   Fri, 1 Jul 2016 13:50:03

The uncharismatic Brexiteer: Gove brings vision in a confident pitch to be PM

On Wednesday, very few people expected Michael Gove would be making his pitch to be Conservative Party leader on Friday morning. But in the Machiavellian twists and turns of post-Brexit politics, Gove's actions have been shocking and completely unexpected. He first demolished Boris Johnson's embryonic leadership campaign, and has now ...
Victoria Honeyman, Lecturer in British Politics, University of Leeds / The Conversation   |   Fri, 1 Jul 2016 13:47:55

This chart shows every possible outcome of a Brexit

Since the UK's vote to leave the European Union exactly one week ago, debate has swirled about when, how, and if the UK will actually come out of the EU. Some European bureaucrats have encouraged the UK to leave as soon as possible, while others have urged caution. Here in ...
Will Martin / Business Insider   |   Fri, 1 Jul 2016 13:47:36

Riding 3-day surge, stocks open 3rd qtr. flat

U.S. stocks kicked off the new quarter virtually unchanged, as calm has returned to the market after the Brexit rebound rally and ahead of the long 4th of July weekend.
USA Today   |   Fri, 1 Jul 2016 13:38:57

Britain Stands at a Diplomatic Crossroads With Brexit Blues

By Nicholas J. Cull The country has always had impulses to cooperate and to isolate. The referendum took a snapshot of opinion at an extreme moment of the pendulum swing. Now all Britons have to live with the result. Related Entries June 30, 2016 Boris Johnson Plans Britain's Future June ...
truthdig   |   Fri, 1 Jul 2016 13:38:07

Brexit Was a Win for the Good Guys

Watching the Brexit campaign generated mixed feelings: It was a little like the man who saw his mother-in-law drive his new Mercedes off a cliff. In the United Kingdom some people who hated free trade, immigration, and market innovation challenged the officious, wannabe super-state headquartered in Brussels. Who to cheer ...
Doug Bandow / Cato   |   Fri, 1 Jul 2016 13:38:00

Why LSE Group Investors' Votes May Be Wasted

Shareholders vote Monday on the merger with Deutsche Börse but Brexit has put big obstacles in the way
WSJ   |   Fri, 1 Jul 2016 13:25:22

Trinity Mirror aims to avoid Brexit hit

Newspaper group promises action as advertising sales slide
FT   |   Fri, 1 Jul 2016 13:25:00

S&P Slashes US Economic Growth Outlook, Blames Brexit

Is this even allowed? It appears S&P has joined the cynical, skeptical ranks of fiction-peddlers and has axed its economic outlook for the US economy. "All told, we expect the repercussions from Brexit to weigh somewhat on U.S. GDP," says S&P's U.S. Chief Economist Beth Ann Bovino. "Combining this with ...
Tyler Durden / Zero Hedge   |   Fri, 1 Jul 2016 13:24:04

Easyjet 'seeking air operator certificate outside Britain after Brexit'

British airline easyJet has reportedly started the process to get an air operator certificate in a different European Union country after the Brexit...
euronews   |   Fri, 1 Jul 2016 13:11:54

Don't Expect Bank of England to Wait, Easing may Begin Next Week

Investors are debating over whether the Bank of England ease policy at the July 14 MPC meeting or wait until August Quarterly Inflation Report when new post-Brexit forecasts will be ready. There are many dimensions to monetary policy, and the first move could come next week. Of the various parts ...
Marc Chandler / Marc to Market   |   Fri, 1 Jul 2016 13:08:00

Brexit: FT markets' analysis in review

A look back at our coverage before and after the vote
FT   |   Fri, 1 Jul 2016 13:07:07

UK economy at cruising speed entering Brexit storm

Data this week confirm that the UK economy was growing solidly before the EU referendum, in line with the positive assessment in previous posts here but contrary to consensus gloom. Revised figures show that GDP grew by 0.45% in the first quarter, up from a previous estimate of 0.36%. The ...
Simon Ward / Money Moves Markets   |   Fri, 1 Jul 2016 13:06:46

Fed: Next hike to come in Q3 2017 at the earliest - RBC CM

Research Team at RBC Capital Markets, suggests that the Brexit has introduced the very real possibility that this morphs into a domino effect across t
Sandeep Kanihama / FX Street   |   Fri, 1 Jul 2016 13:06:43

Hinkley Point C critics try to derail it amid Brexit vote turmoil

Board of EDF, energy project's key backer, is at risk of fracturing as ex-supporters worry about uncertainty of British government Britain's flagship energy project, Hinkley Point C, is hanging by a thread as critics inside key backer EDF use the political turmoil caused by the Brexit vote to try to ...
Terry Macalister Energy editor / Guardian   |   Fri, 1 Jul 2016 13:06:01

What's next for stocks in post-Brexit world?

Stocks enter the the start of the third quarter riding a huge three-day rally and facing fresh headwinds and new questions.
USA Today   |   Fri, 1 Jul 2016 13:02:06

SRSLY: BoJo, The #Brexit Bro

by David Epstein SRSLY The best reporting you probably missed David Epstein Welcome to SRSLY, an (experimental) newsletter highlighting under-exposed accountability journalism. We'll distill the important information from investigative reporting you probably missed, and deliver it to you in worth of reading. Sign up to have it delivered to your ...
ProPublica   |   Fri, 1 Jul 2016 13:00:36

Post-Traumatic Brexit Disorder Relief: Buy These BDCs

Seeking Alpha   |   Fri, 1 Jul 2016 13:00:00

City watchdog's new boss tries to reassure foreign staff after Brexit vote

Tim Wallace / Alistair Osborne   |   Fri, 1 Jul 2016 12:57:41

Don't be fooled by the rally - gold is still stuck in a 'bear super-cycle'

Gold has taken off in the past week as part of the post-Brexit "safe haven" rally. The precious metal jumped as much as 7% the day after the UK voted to leave the European Union and has stayed elevated since. This rally, however, isn't to be trusted, according to John ...
Business Insider   |   Fri, 1 Jul 2016 12:56:43

TOM LEE: Here are 5 reasons why stocks will keep going up

Brexit is a "fundamental negative," but US stocks will continue to climb in the days ahead, according to Fundstrat's Tom Lee. It's still very early days since the United Kingdom voted to leave the European Union - a decision that rocked global markets because investors were not expecting it. But ...
Money Game   |   Fri, 1 Jul 2016 12:51:04

FACTBOX-What the Bank of England can do to cushion Brexit hit for UK

LONDON, July 1- Bank of England Governor Mark Carney has said he expects the central bank will need to do more to help Britain's economy after it was hit by the shock of last week's referendum vote to leave the European Union. That is a record low but it still ...
CNBC   |   Fri, 1 Jul 2016 12:51:00

Top Analyst Upgrades and Downgrades: CenterPoint, Micron, Paychex, Qualcomm, SolarCity, Southern Copper and Many More

The stock market has recovered a majority of its post-Brexit losses, with the Dow's 900+ point drop from last Thursday to being less than 100 points down. Investors have different reasons each... AVY BCC CE CNP CXW DRI GSK MAN MU PAYX QCOM SCCO SCTY Administrator bull and bear
24/7 Wall St.   |   Fri, 1 Jul 2016 12:50:16

The Brexit Bodge: What they said

The EU referendum was only a week ago, and already the false claims and promises of 'Leave' campaigners are painfully unravelling. THEY SAID that outside the EU, Britain could control migration. This would relieve on public services. - BUT NOW they're saying that leaving the EU can't radically reduce migration ...
Jon Danzig / Ideas on Europe   |   Fri, 1 Jul 2016 12:48:55

Winners of Brexit: Will London Be Supplanted by Other Finance Hubs?

Will London's status as a financial capital be threatened by the United Kingdom's recent Brexit vote? If so, which global financial centers stand to gain the most from the City's loss? We polled readers of CFA Institute Financial NewsBrief to find out. Read more
Laurel Teo, CFA / CFA Institute   |   Fri, 1 Jul 2016 12:48:18

Brexit uncertainty strengthens the case for UK shale

The pending exit from the European Union strengthens the argument for the development of Britain's currently untapped shale gas resources. Britain's energy security should be a concern whether it remains in the EU or not, though the vote to leave makes this an increasingly acute issue. Quite simply Britain doesn't ...
Proactive Investors   |   Fri, 1 Jul 2016 12:40:00

Bonddad Friday Linkfest

Tom Taylor on BrexitA comment I heard several times from "Leave" proponents is that the United Kingdom has fifth-largest economy in the world, and even outside the EU, it will remain an important player in the global economy. This argument strikes me as whistling in the dark. Yes, if GDP ...
Bonddad Blog   |   Fri, 1 Jul 2016 12:38:00

How Brexit Will Impact Your Retirement

The impact of the Brexit vote is still blasting financial markets. Here's what you need to know about how it will impact your retirement.
John Wasik, Contributor / Forbes   |   Fri, 1 Jul 2016 12:33:00

Gove says Brexit should not start this year

Justice secretary launches leadership campaign with promise to 'reform capitalism'
FT   |   Fri, 1 Jul 2016 12:31:32

London property deals end after Brexit

Large commercial real estate agreements to fall include £465m acquisition of Cannon Place office
FT   |   Fri, 1 Jul 2016 12:28:24

BoE said to ease banks' capital requirements after Brexit vote

The Bank of England is planning to cut banks' capital requirements as early as next week, Bloomberg reports citing people with knowledge of the discus
Ani Salama / FX Street   |   Fri, 1 Jul 2016 12:28:19

Brexit and the Bioeconomy

OK, the UK is exiting the EU, Cameron has resigned, Scotland is considering secession, Moody's put the British credit rating on watch, and 12 shadow ministers of the Labor Party were either sacked or resigned, as the UK's extraordinary political crisis unfolds. Markets melted on last week, with $2 trillion ...
REN   |   Fri, 1 Jul 2016 12:25:00

Why Tesco Won't Get a 'Brexit' Boost

When the pound plunged in 2008, U.K. grocers were a haven in the storm. Don't expect a repeat performance now.
WSJ   |   Fri, 1 Jul 2016 12:23:18

Brexit Along Three Axes

I do not think that the 3-axes model performs as well as usual at interpreting the post-Brexit feelings. But here is a try. Let us treat the vote as an anti-immigrant backlash. That might not be correct, by the way. ... Continue reading →
Arnold Kling / askblog   |   Fri, 1 Jul 2016 12:21:30

Osborne abandons 2020 surplus target

Chancellor responds to uncertainty generated by Brexit vote
FT   |   Fri, 1 Jul 2016 12:20:59

Explaining Social Anger, Brexit, Donald Trump In One Chart

Submitted by Michael Shedlock via MishTalk.com, Voters are angry. Donald Trump, Marine Le Pen, Nigel Farage, UKIP, and the AfD party in Germany have all been accused of stirring up anger and hatred. But anger is not the problem. None of those individuals or political parties are the problem. Protectionism ...
Zero Hedge   |   Fri, 1 Jul 2016 12:20:18

EasyJet says no decision on HQ relocation until Brexit dust has settled

EasyJet said it will not decide whether to relocate its legal headquarters until Britain's new relationship with the European Union is clear, following a report which said its CEO had signalled a move from the UK was almost inevitable. A spokesman for the British budget airline, responding to a Sky ...
Times of Malta   |   Fri, 1 Jul 2016 12:20:00

The Case for 'Regrexit': Why Britain Won't Really Leave the EU

The Case for ' Regrexit ': Why Britain Won't Really Leave the EU Despite the Brexit vote, Britain will remain a de-facto member of the European Union, writes Peter Vanham, Global Leadership Fellow at the World Economic Forum who is [...] The post The Case for 'Regrexit': Why Britain Won't ...
Knowledge Wharton / Value Walk   |   Fri, 1 Jul 2016 12:15:23

Brexit won't stop Britain's house prices from rising

A new report from the Nationwide building society has shown that the spectre of a Brexit has had no discernible impact on the UK property market. Average house prices grew 0.2% in June from May to £204,968 ($272,269), 5.1% higher than they were a year ago. Robert Gardner, Nationwide's Chief ...
Matthew Nitch Smith / Business Insider   |   Fri, 1 Jul 2016 12:12:27

4 Deutsche Bank High Conviction Stocks To Buy Right Now

Despite the nice rally the last two days, the $3 trillion two day sell-off after the Brexit vote was one of the largest on record. While of course it's always better to hold your nose and buy... FL WFC 247lee buy now key
24/7 Wall St.   |   Fri, 1 Jul 2016 12:11:12

Stocks Near All Time High Despite 16 Straight Week Of US Mutual Fund Outflows, Historic "Redemption Day"

The new normal sure is strange: with the S&P flirting with all time highs, not to mention staging another dramatic V-shaped comeback from the post-Brexit crash which saw S&P futures trade limit down a week ago, investors keep on selling. According to Lipper data, U.S.-based stock mutual funds, which are ...
Zero Hedge   |   Fri, 1 Jul 2016 12:03:40

8 Solid Technology Companies Valued Under 10 Times Expected Earnings

During periods of uncertainty, investors often look for what they find to be value. It should go without saying that an already-slowing international economic picture and then the Brexit shock have... ARRS BRCD JNPR MSCC NCR SWKS Administrator buy sell stocks
24/7 Wall St.   |   Fri, 1 Jul 2016 12:01:31

UK's potteries fight off Brexit threat

Steelite International, which provides tableware for the Dorchester hotel, bought out by US firm
FT   |   Fri, 1 Jul 2016 11:59:28

The experts who failed the Brexit test

Most embarrassed by recent events are prediction markets
FT   |   Fri, 1 Jul 2016 11:59:18

INVESTMENT FOCUS-Brexit revives ghost of crisis past - QE

LONDON, July 1 (Reuters) - When central banks first embraced quantitative easing in 2009 to lift the world economy from the ashes of the Great Recession, it was only half-jokingly dubbed
Reuters   |   Fri, 1 Jul 2016 11:58:03

European factories bounce as Asia struggles, but Brexit poses threats

Euro zone May factory PMI at six-month high of 52.8
Jonathan Cable and Wayne Cole / Globe and Mail   |   Fri, 1 Jul 2016 11:56:21

Social media erupts

Forget Game of Thrones. The United Kingdom and its current political landscape have turned into a fast-paced TV drama of its own that can't be missed.
CNN   |   Fri, 1 Jul 2016 11:54:31

George Osborne just abandoned one of the government's biggest policies because of Brexit

The Chancellor has abandoned plans to balance the government's budget by the end of the decade, blaming uncertainty surrounding Britain's exit from the European Union. A commitment to reach a budget surplus - collecting more in taxes than it spends on public services - has been central to Osborne's vision ...
Oscar Williams-Grut / Business Insider   |   Fri, 1 Jul 2016 11:54:12

JLT: DB deficits hit record £341bn in June

Total deficits of UK defined benefit (DB) schemes reached an all-time high of £341bn by the end of June amid uncertainty over Brexit, according to JLT Employee Benefits.
Professional Pensions   |   Fri, 1 Jul 2016 11:53:00

Brexit a 'wimpy crisis': Strategist

Market reaction to Britain's vote shows it might not be the financial disaster investors had feared, says Jim Paulsen.
CNBC   |   Fri, 1 Jul 2016 11:51:00

Friday Morning Links

MUST READS A Strong Middle Class Doesn't Just Happen - Atlantic Brexit Due to Failure of Elites, Not Bigotry of Masses - RCP Interest rate cut likely after Brexit vote, says Mark Carney - Guardian Anti-Brexit Elites Aren't the Ones Who Suffer from Their Policies - National Review The president ...
Tim Iacono   |   Fri, 1 Jul 2016 11:46:04

Slovakia takes over EU presidency amid Brexit fallout

The United Kingdom's vote to leave the European Union will dominate the bloc's agenda for the rest of the year, Slovakia's prime minister said on...
euronews   |   Fri, 1 Jul 2016 11:38:30

Independence Day gives driving boost for oil, but traders want to see sustained demand

The western world was certainly preoccupied with the Brexit fallout all week as warning signs of doom and gloom dominated the headlines. Like global equity markets, the oil market took a short sharp hit, but recovered later in the week and in early trading on Friday, Brent crude was priced ...
Proactive Investors   |   Fri, 1 Jul 2016 11:35:00

Frontrunning: July 1

Bond yields sink as central banks head for easier policy (Reuters) PM hopeful Gove says UK leader must believe in Brexit (AP) U.K. Can't Bank on EU's Rationality in Talks (WSJ) Gove Makes Case for U.K. Premiership After Johnson Betrayal (BBG) ECB not debating abandoning capital key in QE buys ...
Zero Hedge   |   Fri, 1 Jul 2016 11:34:47

Brexit and the end of EU enlargement

A few comments on Brexit from a British/EM perspective: First, on the idea that somehow Brexit can be avoided. Frankly, I just don't buy that. It was made crystal clear that this was an in-out decision, and we all voted on that assumption. It is patronising to the electorate to ...
Timothy Ash, Nomura / Beyond BRICs   |   Fri, 1 Jul 2016 11:33:51

Brexit watch: Easyjet mulling shift in HQ

Brexit to weigh only slightly on global oil demand, analyst says Dougie Youngson, analyst at City broker finnCap, highlighted that oil traders have so far focused on the short term impact of the Brexit vote. "The market is now focusing on what the impact of Brexit will be on global ...
Proactive Investors   |   Fri, 1 Jul 2016 11:29:00

UPDATE 1-UK's Osborne drops 2020 budget surplus target after Brexit vote

LONDON, July 1 (Reuters) - British finance minister George Osborne said on Friday he was no longer sticking to his centrepiece policy of turning the country's budget deficit into a surplus by 2020...
Reuters   |   Fri, 1 Jul 2016 11:28:58

Week in pictures - From Ataturk attacks to Brexit

From the deadly suicide attack in Turkey to the shock exit of Britain from Euro 2016, here is the week in pictures.
Al Jazeera   |   Fri, 1 Jul 2016 11:27:52

PM hopeful Gove says UK leader must believe in Brexit

LONDON (AP) - Political healing after Britain's vote to leave the European Union seemed a distant prospect Friday, as Justice Secretary Michael Gove ramped up his Conservative leadership bid but a senior colleague urged him to step aside.
Associated Press   |   Fri, 1 Jul 2016 11:19:29

Festival of Finance 2016

The ECB's Peter Praet and experts discuss Brexit, finance and markets
FT   |   Fri, 1 Jul 2016 11:19:25

Savers and borrowers braced for change amid Brexit fallout

Two speeches made within 24 hours have signalled significant changes ahead for personal finances.
BBC   |   Fri, 1 Jul 2016 11:17:45

Brexit: everything you wanted to know about turnout by age at the EU referendum

A week on from Britain's historic vote to leave the EU, some of the most frequently asked questions have concerned turnout levels across different age groups. Early cries that the young had been betrayed by older voters were countered with claims that it's young people's own fault for not voting ...
John Burn-Murdoch / FT Data   |   Fri, 1 Jul 2016 11:14:09

Brexit: Tensions emerge over UK-EU trade negotiations

UK and EU politicians send conflicting signals about how the UK's Brexit negotiations should proceed.
BBC   |   Fri, 1 Jul 2016 11:13:39

Labouring on? It's time to leap

What is to be done about the Labour party in the UK? Butterly, image: ra_hurd, some rights reserved "short term hopes are futile, long term resignation is futile" Hans Magnus Enzenberger For Labour this is not really about Brexit or Jeremy, they are respectively just the trip wires and symptoms ...
Open Democracy   |   Fri, 1 Jul 2016 11:09:13

Europe needs Brexit roadmap urgently, says ECB chief economist

LONDON, July 1 (Reuters) - Europe urgently needs a "roadmap" on Britain's plans to leave the European Union, the European Central Bank's chief economist Peter Praet said on Friday.
Reuters   |   Fri, 1 Jul 2016 11:06:46

Everything is not ok

A WEEK ago, as news of the vote in favour of Brexit sunk in, global markets tumbled. In the space of two days, the S&P 500 dropped more than 4%, while Britain's FTSE 250 fell about 10%. But then, strikingly, equity prices reversed themselves. The S&P 500 is now higher ...
Free Exchange   |   Fri, 1 Jul 2016 11:06:29

Morning News: July 1, 2016

U.K. Manufacturing Growth Picked Up Before Brexit Referendum Brexit Means Brexit: Johnson's Fall Reduces Room for EU-Turn Gold, Silver Win Brexit Medals as Economies Offered [...]
Eddy Elfenbein   |   Fri, 1 Jul 2016 11:04:59

What Brexit means for your money

Investments, pensions and property face risks following the referendum vote
FT   |   Fri, 1 Jul 2016 11:04:19

Gove: I am the Brexit Candidate

Gove promises to deliver Brexit, end free movement, Australian-style points system, spend money on NHS - Guido Fawkes (@GuidoFawkes) July 1, 2016 Gove finishes up: "I am standing for the leadership not as a result of calculation... dare to dream" - Guido Fawkes (@GuidoFawkes) July 1, 2016 The post Gove: ...
WikiGuido / Guy Fawkes' blog   |   Fri, 1 Jul 2016 11:02:58

Brexit vote is poor outcome for UK, says industry

Majority of people believe Brexit is a bad decision for UK according to PP research.
Michael Klimes / Professional Pensions   |   Fri, 1 Jul 2016 11:00:56

Factory data show recovery before Brexit

Activity moved from stagnation to expansion, reaching five-month high in June
FT   |   Fri, 1 Jul 2016 10:58:06

The incredibly shrinking Brexit losses

That feared market meltdown? Yeah, it was short-circuited.
USA Today   |   Fri, 1 Jul 2016 10:58:03

The uncomfortable truth that the BoE faces after Brexit

The BoE has summed up the mood of most market participants who find themselves in a world of negative rates and ultra-aggressive monetary policy.
CNBC   |   Fri, 1 Jul 2016 10:51:00

Jefferies: Don't Panic, Markets Are Handling Events Quite Well

Sean Darby, Jefferies chief global equity strategist, and Kenneth Chan, the firm's quantitative strategist, want to have an honest conversation about Brexit. The world did not end after the vote, the sun, in fact, ended up rising in the east [...] The post Jefferies: Don't Panic, Markets Are Handling Events ...
Value Walk   |   Fri, 1 Jul 2016 10:48:46

Brexit Briefing: Michael Gove Enters Leadership Race; Boris Johnson's Bid Collapses - At A Glance

We have just witnessed the most extraordinary week in British politics possibly since World War II, with both leading national political parties in utter disarray. The June 23 vote to leave the European Union was always expected to bring uncertainty to the economy and financial markets. And it did. But ...
Stephen Fidler / WSJ Brussels   |   Fri, 1 Jul 2016 10:42:19

Brexit helps gold gain over 25% in first half of 2016

The U.K.'s vote to leave the EU has boosted precious metals as investors flock to safe-haven assets such as gold and silver.
CNBC   |   Fri, 1 Jul 2016 10:41:00

Renzi says EU must rediscover identity after Brexit

Rome, July 1 - Premier Matteo Renzi said Friday that he was optimistic the European Union could make good of Britain's vote to leave it. "A very interesting new period has started for Europe, ex malo bonum (good from evil)," he said at the presentation of the end of the ...
Gazzetta Del Sud   |   Fri, 1 Jul 2016 10:37:00

Brexit derails Fed hiking cycle - RBC CM

Research Team at RBC Capital Markets, suggests that the Brexit vote outcome has derailed the Fed hiking cycle and the question now is for how long. K
Sandeep Kanihama / FX Street   |   Fri, 1 Jul 2016 10:36:39

REPORT: EasyJet is thinking about moving its HQ out of the UK

EasyJet is consulting with aviation regulators across the European Union about possibly moving its headquarters out of the UK and into continental Europe, according to a report from Sky News. Sky's report suggests that EasyJet's chief executive Carolyn McCall - one of only a handful of female chief execs at ...
Business Insider   |   Fri, 1 Jul 2016 10:35:52

How millennial investors rode the Brexit wave

Young investors were more aggressive than their older cohorts during the Brexit-fueled market turmoil, according to Fidelity stats shared exclusively with CNNMoney. It's part of a broader shift of Millennials becoming more bold during market scares.
CNN   |   Fri, 1 Jul 2016 10:35:24

The Latest: Tony Blair sees danger after Brexit vote

Former Prime Minister Tony Blair, who argued strongly that Britain should remain in the European Union, has warned that Britain is in peril following the Brexit vote
U.S. News   |   Fri, 1 Jul 2016 10:30:00

European markets cautious, eye weekly gain, despite Brexit

The stocks on the European bourses traded range bound to moderately higher on the final trading day of the week, but remains on track for the first we
Dhwani Mehta / FX Street   |   Fri, 1 Jul 2016 10:27:48

Post-Brexit crisis, what crisis? The FTSE 100 is roaring ahead

It has taken just a week since the shock EU referendum vote for the best FTSE 100 performance in years. What's going on? Find out here ... After an initial slump in the first two trading day's following the Brexit vote, the index of Britain's top 100 companies regained all ...
Nick Fletcher / Guardian   |   Fri, 1 Jul 2016 10:24:20

UK yields hit new record lows after Carney hints at more QE

U.K. Gilt yields reached new record lows on Friday, as markets mull whether the Bank of England will reintroduce QE in the wake of the Brexit vote.
CNBC   |   Fri, 1 Jul 2016 10:22:00

No way out

All that remains of Brexit is lies, a botched job, and cynicism
José Ignacio Torreblanca / EL PAÍS   |   Fri, 1 Jul 2016 10:17:45

XAU/USD - Gold Climbs as Bank of England Says Rate Cut Coming

Gold has posted gains on Friday, continuing the upward movement which marked the Thursday session. The metal is trading at $1332 per ounce. On the release front, today's highlight is ISM Manufacturing PMI. The indicator is expected to remain unchanged at 51.3 points. The aftershocks in the wake of Brexit ...
Kenny Fisher / OANDA   |   Fri, 1 Jul 2016 10:17:40

Brexit vote triggers "redemptions day" for equity funds -BAML

LONDON, July 1 (Reuters) - Investors pulled $21 billion from global equities in the past week, the highest weekly outflow since last August's China-related ructions, with almost half that amount...
Reuters   |   Fri, 1 Jul 2016 10:14:27

US NFP: Look for something slightly above consensus - ING

Research Team at ING, suggests that aside from the ongoing political and market fallout from Brexit in the UK, we will get the first US Labour Report
Sandeep Kanihama / FX Street   |   Fri, 1 Jul 2016 10:13:18

FTSE 100 continues rebound but Royal Bank of Scotland falls again

Banking shares weaker on worries about UK recession and rate cut effects Leading shares are heading for their best week since December 2011, but banks continue to miss out on the post-Brexit bounce. Concerns about a UK recession and comments from Bank of England governor Mark Carney hinting at a ...
Nick Fletcher / Guardian   |   Fri, 1 Jul 2016 10:08:53

Heard in the Hutong: Beijingers on Brexit

We asked Beijingers their thoughts on Brexit.
WSJ Staff / WSJ China Real Time Report   |   Fri, 1 Jul 2016 10:08:49

UK in economic shock after EU referendum, Osborne says

Supreme national effort will be needed to get through aftermath of Brexit vote, says chancellor Britain's economy is showing clear signs of shock in the aftermath of the vote to leave the European Union, George Osborne has said. The chancellor, who backed a remain vote in last week's referendum, said ...
Press Association / Guardian   |   Fri, 1 Jul 2016 10:04:53

Investing after Brexit: Blithe spirit

Do not run for the doors in the face of volatility
FT   |   Fri, 1 Jul 2016 10:03:40

Aid, trade and friendship: Will Brexit hurt the world's most needy?

As the shock of Britain's decision to leave the European Union sent world stock markets tumbling and triggered global concern, some began to calculate the toll it might take on the world's most needy. Would aid to the world's developing nations be impacted? Would there be an effect on trade ...
Ann M. Simmons / LA Times   |   Fri, 1 Jul 2016 10:00:00

EasyJet Opens Talks Over Post-Brexit HQ Move

EasyJet's boss has signalled in private meetings this week that moving its legal HQ is "likely" after Brexit, Sky News can reveal.
Sky   |   Fri, 1 Jul 2016 09:58:04

Could Paris really steal City of London crown after Brexit?

French officials have been preparing for months to promote their financial sector and urge City bankers to consider a move Hours after the UK's vote for Brexit was announced, online adverts saying "Welcome to the Paris Region" aimed at international banks and investors were already running in the Financial Times ...
Angelique Chrisafis in Paris / Guardian   |   Fri, 1 Jul 2016 09:57:57

Why Brexit Could Hurt America's Security And Help Russia's

Image credit: istockIn the Newsquoting Michael McFaulvia CNN What happens in Europe doesn't stay in Europe.
Hoover Institution   |   Fri, 1 Jul 2016 09:54:00

Race for Britain's Brexit PM heats up after Boris bows out

Britain's ruling Conservative Party was left reeling on July 1, after the shock withdrawal of favourite Boris Johnson from the race to become prime minister in the wake of the vote to leave the EU
Hurriyet   |   Fri, 1 Jul 2016 09:52:00

UK factory output grows despite fears of Brexit fallout

Solid growth in new orders helped by export boost from the dive in sterling as PMI rises to highest level since January UK factory output made tentative gains in June after a slump in the spring, but firms still shed jobs amid fears over the referendum vote last week. The ...
Phillip Inman Economics correspondent / Guardian   |   Fri, 1 Jul 2016 09:51:09

Italy's 2016 growth just 0.8% after Brexit - CSC report (2)

Milan, July 1 - Italy's GDP will rise by 0.8% this year and by 0.6% in 2017, the CSC research centre of industrial employers' confederation Confindustria said Friday after revising down its forecasts following the Brexit. In December it forecast growth of 1.4% in 2016 and 1.3% in 2017. "The ...
Gazzetta Del Sud   |   Fri, 1 Jul 2016 09:49:00

EMERGING MARKETS-Emerging stocks set for biggest weekly rise since March

By Karin Strohecker LONDON, July 1 (Reuters) - Emerging stocks headed for their biggest weekly gain since March on Friday, shrugging off Brexit jitters and focusing on the likelihood of more...
Reuters   |   Fri, 1 Jul 2016 09:43:03

Mr Market is not shrugging off Brexit

If stock prices are telling us anything, it is all bad news
FT   |   Fri, 1 Jul 2016 09:41:37

Brexit is not the beginning of a global security crisis

Now its people have decided to back out of the EU, Britain's future place in the world order is more unclear than it has been for decades - but that still doesn't mean that the world is less safe because of the British electorate's decision. To read some reactions to ...
Ian Shields, Associate Lecturer in International Relations, Anglia Ruskin University / The Conversation   |   Fri, 1 Jul 2016 09:40:00

UK factories report pick-up in activity in June

UK manufacturers saw activity pick-up in June, according to a closely watched survey, but the effects of the Brexit vote will not be seen until July.
BBC   |   Fri, 1 Jul 2016 09:36:02

Fed's Bullard doesn't expect Brexit to have influence on global deflation

In an interview on Bloomberg TV, St. Louis Fed President James Bullard noted that the US economy is in a low growth phase now. Key Quotes: US is in
Dhwani Mehta / FX Street   |   Fri, 1 Jul 2016 09:33:56

7 ways Brexit will be felt across Africa

The reverberations from Britain's fateful choice extend far beyond Europe. The U.K. retains deep ties with many African states, and the turbulence is causing anxiety from the Johannesburg stock exchange to the battlefields of Somalia.
CNN   |   Fri, 1 Jul 2016 09:32:16

Who's really to blame for Brexit

Mismanagement of globalization by the world's leadership class has led to Brexit and may elect Donald Trump. The post Who's really to blame for Brexit appeared first on The Japan Times .
Ted Rall / Japan Times   |   Fri, 1 Jul 2016 09:31:59

My 350 on BREXIT: An act of utter ignorance

"Many have claimed that it is high time for the establishment to start listening. It is not. Rather, it is high time Leave voters started listening." As a UK resident for three years and an Anglophile whose biggest ambition in life is to acquire a British accent, I am devastated. ...
Ragnar Weilandt / Open Democracy   |   Fri, 1 Jul 2016 09:31:22

China PMI Drops To Four Month Low

Brexit is sure to damage the economic growth of both the EU and U.K. America's GDP growth has been lackluster. Japan's decades long financial trouble has not ended, and will not soon.... 247wallst The Great Wall of China
Douglas A. McIntyre / 24/7 Wall St.   |   Fri, 1 Jul 2016 09:24:37

Brexit and the future of European Union By George Soros

Brexit and the future of European Union The United Kingdom had the best of all possible deals with the European Union; it was a member of the EU common market while having its own currency. Yet that was not enough [...] The post Brexit and the future of European Union ...
Guest Post / Value Walk   |   Fri, 1 Jul 2016 09:24:33

The Minsky moment theory and its relevance to Brexit

Whoever has studied economics has encountered the 'Minsky moment theory' named after economist Dr. Hyman Minsky, who had noted that in times of stability, traders tend to inflate asset prices by leveraging their positions, with the consequence that markets shift towards a bearish mode, while a dash for the exit ...
Times of Malta   |   Fri, 1 Jul 2016 09:24:00

Italy's 2016 growth just 0.8% after Brexit - CSC report

Milan, July 1 - Italy's GDP will rise by 0.8% this year and by 0.6% in 2017, the CSC research centre of industrial employers' confederation Confindustria said Friday after revising down its forecasts following the Brexit. In December it forecast growth of 1.4% in 2016 and 1.3% in 2017. "The ...
Gazzetta Del Sud   |   Fri, 1 Jul 2016 09:21:00

We need to build new runways at Heathrow AND Gatwick if we are to grow post-Brexit

James Quinn / Telegraph   |   Fri, 1 Jul 2016 09:17:19

One bleak chart shows how awful the next few years will be for the British economy

Exactly one week ago, Britain voted to leave the European Union and, as predicted, chaos ensued in the markets. Prior to the vote economists, banking analysts, central banks and pretty much every category of financial thinker warned of the potentially dire consequences of the referendum. Markets would crash, investment to ...
Will Martin / Business Insider   |   Fri, 1 Jul 2016 09:14:19

Brexit aftermath: metals and miners strengthen, UK weakens

On the whole, dollar strength is a mixed blessing for miners. A strong dollar in many respects equates to weaker commodity prices, an effect most marked in the AM and PM fix for the gold price, but also apparent elsewhere. And yet, the very fact that commodities are priced in ...
Proactive Investors   |   Fri, 1 Jul 2016 09:12:00

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

Ashley Kirk / Telegraph   |   Fri, 1 Jul 2016 09:05:58

"Brexit And The EU: A New Deal For All The EU Or No Deal At All?" by Vivien Schmidt

Now that the UK has voted to leave the EU, all the attention has been focused on how it will go about leaving, or even whether it will leave in the end. But equally important is how the EU responds to Brexit: whether as an isolated case to be quarantined ...
Vivien Schmidt / Social Europe Journal   |   Fri, 1 Jul 2016 09:05:04

"The Solution To Brexit Lies In Eastern Europe" by Zoltán Pogátsa

However many reasons British voters had for voting to leave the European Union, it is generally agreed that resentment about immigration was at the top of their concerns. Economists have come forward over the years with numerous studies concluding that labour migration from the rest of the EU is beneficial ...
Zoltán Pogátsa / Social Europe Journal   |   Fri, 1 Jul 2016 09:04:24

How to start healing those Brexit family rifts

Victoria It has been an emotional month for many in the UK. After the sadness and anger that followed the tragic murder of MP Jo Cox, many people now feel fearful and apprehensive as the consequences of the EU referendum begin to reveal themselves. It has also been a divisive ...
Lucy Blake, Research Associate at the Centre for Family Research, University of Cambridge / The Conversation   |   Fri, 1 Jul 2016 09:01:42

Alphachat: Fact-checking Brexit claims with Tim Harford

Alphachat is available on Acast , iTunes and Stitcher . Continue reading: Alphachat: Fact-checking Brexit claims with Tim Harford
Aimee Keane / FT Alphaville   |   Fri, 1 Jul 2016 09:00:10

How to Stay Afloat in Choppy High-Income Markets

Brexit has made at least one thing certain: markets are in for a stormy summer. Even so, there are steps that investors who rely on fickle global credit markets for income can take to stay afloat.
AllianceBernstein   |   Fri, 1 Jul 2016 09:00:00

Around 20 banks, unfazed by Brexit, to invest 500 million sterling in Britain: PwC

LONDON (Reuters) - Around 20 startup banks and financial firms have reaffirmed plans to invest a total of up to 500 million pounds ($664.95 million) to open in Britain, consulting firm PwC said on Friday. These investment plans will be a boost for Britain's financial services sector, beset by rumors ...
Business Insider   |   Fri, 1 Jul 2016 08:55:05

How divided is the UK post-Brexit vote?

Hate crimes are on the rise in UK after Brexit vote.
Al Jazeera   |   Fri, 1 Jul 2016 08:51:01

Economists, Brexit and the Media: Epilogue

In a thoughtful piece, Paul Johnson of the IFS says that economists must take some of the blame for not getting our message across. In fact he says: "But it is always a mistake simply to look at the media as a scapegoat. The real failings were with my profession." ...
Mainly Macro / Mainly Macro   |   Fri, 1 Jul 2016 08:40:00

Tumble in Japan bond yields after Brexit renews pressure on BOJ

TOKYO, July 1- Ultra-long Japanese government bond yields sank to record lows this week after Britain voted to exit the European Union, in a fresh blow to the Bank of Japan's efforts to beat deflation. "It would be more difficult for the BOJ to come up with a new easing ...
CNBC   |   Fri, 1 Jul 2016 08:37:00

Justice Secretary Gove to spell out post-Brexit plans

Justice Secretary Michael Gove plans to spell out his plans for Britain's post-European Union future as he intensifies his bid for the Conservative Party leadership
U.S. News   |   Fri, 1 Jul 2016 08:31:06

Brexit: Huge Spanner in the Works - Negotiation of New UK Trade Deals Verboten Till Exit Complete

does not even begin to describe how hard it will be for the UK to strike post Brexit trade deals. Negotiations cannot begin until the UK has left the EU.
Yves Smith / Naked Capitalism   |   Fri, 1 Jul 2016 08:30:23

Brexit is going to totally screw up Europe's manufacturing renaissance

The European manufacturing sector saw its recovery accelerate in June, but Britain's vote to leave the European Union could bring that recovery to a total standstill, according to the latest PMI data released by Markit on Friday morning. Markit's PMI reading for June showed that the continent's manufacturers enjoyed their ...
Will Martin and Will Martin / Business Insider   |   Fri, 1 Jul 2016 08:23:40

1/7/16: Sunday Night Bailout: Italy

As I have noted on Twitter and in comments to journalists, Brexit has catalysed investors' attention on weaker banking systems. As opposed to the UK banks, that are doing relatively well, given the circumstances, the focal point of the Brexit fallout is now Italian banking system, saddled with excessively high ...
Constantin Gurdgiev   |   Fri, 1 Jul 2016 08:18:00

Why Brexit Persuaded Me To Vote For Hillary Clinton

Image credit: istockFeaturedvia Politico Last Friday, people across the United Kingdom woke up shocked to learn that their nation had actually voted to leave the European Union. More than a million people now reportedly would like to change their vote from "leave" to "remain"; more than 3 million signed a ...
Kori Schake / Hoover Institution   |   Fri, 1 Jul 2016 08:11:00

This is what European fund managers are betting on to help them battle through Brexit

Traders and fund managers have a tough time ahead of them after Britain voted for a Brexit - a British exit from the European Union. Stocks are all over the place, the plunge in sterling is wreaking havoc on various asset classes, and the UK's economic outlook is pretty grim. ...
Lianna Brinded / Business Insider   |   Fri, 1 Jul 2016 08:10:17

What Does A Post-Brexit Future Look Like For Britain?

By Linda Yueh As the UK contemplates its future with Europe, what's needed now is a parallel pursuit of free trade agreements (FTAs) with the other major economies. Trade agreements take years, as will Britain's negotiations with the European Union, so the sensible approach is to start talks with the ...
London Business School Review, Contributor / Forbes   |   Fri, 1 Jul 2016 08:07:00

It's Time for a U.S.-U.K. Free-Trade Agreement

"It is not given to us to peer into the mysteries of the future. Still I avow my hope and faith, sure and inviolate, that in the days to come the British and American peoples will, for their own safety, and for the good of all, walk together in majesty, ...
National Review   |   Fri, 1 Jul 2016 08:00:00

European Cities Battle for London's Finance Crown

Following the U.K.'s vote to leave the European Union, London's position as the continent's premier financial center is under threat, and officials in Paris, Frankfurt and Dublin aren't wasting time in trying to hasten its downturn.
WSJ   |   Fri, 1 Jul 2016 07:51:43

Beyond fake promises and blind faith, is there a glimmer of hope for post-Brexit NHS politics?

The main 'leave' narrative blamed the wrong people, but people may yet realise they've been duped - and there are some interesting flashpoints ahead. Image: Flickr/Geoff Holland I am furious with those on the left who advocated Leave. Whatever their motives, that judgement was blind to the upsurge of racism ...
Greg Dropkin / Open Democracy   |   Fri, 1 Jul 2016 07:49:40

Four days and counting: The stock market rally continues

European stocks are extending their rally into a fourth day as investors continue to shrug off the initial shock of Britain's vote to leave the European Union. Stocks initially tanked after the Brexit vote but have now roared back and are in their fourth day of positive trading. In Britain, ...
Business Insider   |   Fri, 1 Jul 2016 07:45:06

Week Ahead - BOE Reacts To Brexit Vote

Seeking Alpha   |   Fri, 1 Jul 2016 07:32:52

If The UK Economy Tanks, Don't Blame Brexit

Submitted by Frank Shostak via The Mises Institute, Last Thursday, the people of Britain voted in a referendum to leave the European Union (EU). Most commentators view Britain's exit from the European Union as bad news for economic growth in the UK and the eurozone. As a result, it is ...
Tyler Durden / Zero Hedge   |   Fri, 1 Jul 2016 07:30:00

Brexit-hit housebuilders are bargains

Sector sell-off leaves stock looking better value than house prices
FT   |   Fri, 1 Jul 2016 07:29:10

This is what Britain losing investment looks like - but it also helps explain the Brexit vote

South East Asia's third largest bank, United Overseas Bank, has stopped funding mortgages for UK properties, one of the first examples of investment in Britain drying up in the wake of the Brexit vote. The Times quotes a spokesperson for the Singapore lender as saying: "As the aftermath of the ...
Oscar Williams-Grut / Business Insider   |   Fri, 1 Jul 2016 07:28:52

$A continues to rise as Brexit fears fade

The Australian dollar is edging closer to 75 US cents, as concerns about Brexit fade and the RBA's next rate decision nears.
SMH   |   Fri, 1 Jul 2016 07:24:05

Brexit is already affecting our startup - enquiries are dropping

A small agency says clients have become jittery over the topic of future marketing budgets following the UK's vote to leave the EU As the small business community reels from the shock that Britain is to leave the EU, at our startup marketing agency Move Digital it felt as if ...
Guardian Staff / Guardian   |   Fri, 1 Jul 2016 07:22:35

Was Brexit Fear a Giant Hoax Or Is This the Calm Before the Next Storm?

Was Brexit Fear a Giant Hoax Or Is This the Calm Before the Next Storm? Here is a latter portion of this informative article by Ambrose Evans-Pritchard of The Telegraph: Yet it should be dawning on European politicians by now that the economic fates of the UK and the eurozone ...
Proactive Investors   |   Fri, 1 Jul 2016 07:20:00

Gilt yields at record lows on Brexit fallout

Stocks supported by prospect of more central bank stimulus
FT   |   Fri, 1 Jul 2016 07:14:41

UK shares push higher on Carney speech

UK shares rise for a third day, after Bank of England governor Mark Carney hinted at fresh stimulus measures following the Brexit vote.
BBC   |   Fri, 1 Jul 2016 07:12:36

OPM pours cold water on Busuttil's calls for a united Brexit front

Though the Office of the Prime Minister has welcomed in principle the Opposition's offer to form a united front to deal with the Brexit challenges, such a scenario still looks unlikely, at least for the time being. Exactly a week ago, Opposition leader Simon Busuttil extended "a hand of cooperation" ...
Keith Micallef / Times of Malta   |   Fri, 1 Jul 2016 07:12:03

Shares rise on Brexit rate cut prospect - business live

Markets are up after Mark Carney said the Bank of England could cut interest rates following the Brexit vote 8.06am BST Good morning. This time last week Britain was waking up to the news that it had voted to leave the European Union. The outcome sent shockwaves through global markets, ...
Angela Monaghan / Guardian   |   Fri, 1 Jul 2016 07:06:51

Links for 07-01-16

The Macroeconomics of Brexit: Motivated Reasoning? - Paul Krugman Impact of trade agreements: New approach, new insights - VoxEU The greatest reshuffle of incomes since the Industrial Revolution - VoxEU Mysteries of Money - The Baseline Scenario I think this...
Economist's View   |   Fri, 1 Jul 2016 07:06:00

Brexit live - Pound falls on Carney comments

Labour leader Jeremy Corbyn could face a leadership challenge
FT   |   Fri, 1 Jul 2016 07:03:53

Brexit is already affecting the economy - despite the short-term fluctuations of the stock market

Brexiters won the referendum over a week ago. Yet due to their lack of preparation and direction, it remains unclear whether and how Brexit will happen. Despite the FTSE index swings reported daily in the media, this uncertainty is already negatively affecting the economy, writes Costas Milas, and is evident ...
Blog Admin / British Politics and Policy at LSE   |   Fri, 1 Jul 2016 07:00:59

If dissensus is the new normal in Britain, we need a new media

An inquiry into the future of public service broadcasting in Britain launched its report days after the Brexit vote. It holds important clues to how we deal with the current breakdown of consensus. The referendum result of June 24 made millions of people in Britain sit up and think about ...
Des Freedman / Open Democracy   |   Fri, 1 Jul 2016 06:58:29

Market close to recovering Brexit losses

The share market has continued to rise on easing Brexit fears, though falls among the big banks kept the gains to a modest level.
SMH   |   Fri, 1 Jul 2016 06:56:32

Brexit and the NHS - why we all must fight the racist discourse

Westminster promises to get even 'tougher on migration' risk damaging public health and the stability of our NHS. Image: VivirLatino. Creative Commons Licensed.The right-wing Leave campaign promoted anti-immigrant sentiment to achieve its political goals. The fallout has been the legitimisation of bare-faced racism. Immediately post-Brexit there has been a 57% ...
Ruth Atkinson / Open Democracy   |   Fri, 1 Jul 2016 06:54:37

Lord Puttnam: the BBC must confront a "total" loss of trust

The film producer and chair of a major inquiry into the future of public service broadcasting calls on the BBC to help rebuild trust in Brexit Britain. As the media confronts its spectacular failure to educate and inform the British people before the EU referendum, the BBC has a special ...
Open Democracy   |   Fri, 1 Jul 2016 06:45:09

EUR/USD waits for PMIs near 1.1080

The dingle currency is following the rest of the riskier assets southwads today, sending EUR/USD to the area of 1.1080. EUR/USD lower on risk, Brexit
Pablo Piovano / FX Street   |   Fri, 1 Jul 2016 06:40:09

European Central Bank Says Austerity Is Three Times as Bad as Brexit

A new study from the European Central Bank (not official bank policy) estimated the size of the output gap in the euro area at 6.0 percent of GDP. Most analyses put the cost to the UK's from its exit from the European Union at around 2.0 percent of GDP. If ...
Dean Baker / CEPR   |   Fri, 1 Jul 2016 06:38:50

HSBC and Barclays: We're staying despite the Brexit

HSBC and Barclays' top bosses have committed to keeping the two banks headquartered in the UK, despite the Brexit vote. The Financial Times reports that chairman Douglas Flint said at an event in the City on Thursday that last week's shock EU referendum result would not prompt a review of ...
Oscar Williams-Grut / Business Insider   |   Fri, 1 Jul 2016 06:36:26

Papers: Carney warns of Brexit 'PTSD', while Tesla is also in the news

Bank of England Governor Mark Carney said Britain is suffering from an 'economic post-traumatic stress disorder' in a speech yesterday. Carney said that the country would be able to adapt to life post-Brexit, but the test was "how quickly and how well". "In recent years, policy uncertainty has increased globally," ...
Proactive Investors   |   Fri, 1 Jul 2016 06:31:00

Brexit stirs eurozone break-up fears

Asset managers are concerned that Britain leaving the EU could trigger the end of the euro
FT   |   Fri, 1 Jul 2016 06:30:28

GLOBAL MARKETS-Asia stocks up as risk appetite recovers, pound under fresh pressure

SINGAPORE/ TOKYO, July 1- Asian stocks rose on Friday and European markets were expected to follow as investors continued to recover from last week's Brexit shock, but the pound came under fresh pressure after the Bank of England's governor hinted at an interest rate cut ahead. Financial spreadbetters expected Britain's ...
CNBC   |   Fri, 1 Jul 2016 06:30:00

Share market finishes higher

The share market has closed slightly higher as risk-aversion in the wake of Brexit calms for the moment.
SMH   |   Fri, 1 Jul 2016 06:25:22

ECB mulls relaxing QE rules post-Brexit: Report

The ECB could relax the rules for bond-buying in the wake of the Brexit vote. Barnaby Martin, head of European credit strategy at BofA Merrill Lynch Global Research, discusses.
CNBC   |   Fri, 1 Jul 2016 06:25:00

NZD/USD tests post-Brexit highs, then retreats

The NZD/USD pair extends its bullish run into a fourth-day today, having reversed more-than half the Brexit-induced slide, as the recovery in oil and
Dhwani Mehta / FX Street   |   Fri, 1 Jul 2016 06:22:46

Fed: No longer expect to hike rates in 2016 - RBS

Research Team at RBS, suggests that in the wake of the Brexit vote, they no longer expect the Fed to hike rates in 2016 and, for now, are removing any
Sandeep Kanihama / FX Street   |   Fri, 1 Jul 2016 06:22:26

No Brexit-style election shock for market

The best election result for investors would be a clear majority, but the concern is minor parties will again control the Senate, market watchers say.
SMH   |   Fri, 1 Jul 2016 06:16:23

HSBC won't be moving its HQ away from London post-Brexit

HSBC has confirmed for the first time since last week's referendum that the UK vote to quit the European Union will not lead to the bank moving its headquarters from London.
Here Is The City   |   Fri, 1 Jul 2016 06:03:57

Standard & Poor's cuts EU credit rating after British vote to leave

The European Union has suffered a downgrade of its long-term credit rating following the UK's Brexit vote last week.
Here Is The City   |   Fri, 1 Jul 2016 06:03:24

"Brexit chaos proves that I was right all along," says everyone. Our political narratives need to change, or they'll become barriers to thought

In times of uncertainty, politics is about choosing between competing narratives. The trouble is that narratives tend to be more about sticking to one's position than responding to events. We need our politicians to be better at changing their stories and their minds, argues Kate Alexander Shaw. In the week ...
BPP Team / British Politics and Policy at LSE   |   Fri, 1 Jul 2016 06:00:36

HSBC: Brexit may be merely the 'precarious calm' before the real storm

We've seen a swathe of reports from investment bank economists this week and all of them say something similar - Britain's exit vote from the EU is going to dampen economic activity and wipe a percentage point or more off UK GDP. Some even think the UK is now heading ...
Jim Edwards / Business Insider   |   Fri, 1 Jul 2016 06:00:00

China: CPI slowdown continues to give PBOC a chance to cut - MUFG

Research Team at MUFG, suggests that without Brexit, DXY would have fallen a couple of points in June. Key Quotes "As it stands, it's pulling back f
Sandeep Kanihama / FX Street   |   Fri, 1 Jul 2016 05:42:55

Japan can learn from Brexit vote

People in the U.K. must be proud of having taken part in this historic referendum, whichever side they voted for ("Britain shocks world with vote to exit EU," June 25). They showed the rest of the world that it is people, not politicians, who make the final decision on the ...
Japan Times   |   Fri, 1 Jul 2016 05:35:27

Time to reimagine Europe

Over 17 million Britons voted to leave. The EU must hear this cry to deepen democracy, before it further awakens Europe's far right. This, next? Current polls predict Marine le Pen will comfortably make it into the second round of France's presidential election. Emmanuel d'Aubignosc, Wikimedia My daughter is three ...
Mary Fitzgerald / Open Democracy   |   Fri, 1 Jul 2016 05:34:00

A rather hopeful political stance

I've joined the Lib Dems so we can beat Brexit in a general election read more
Tim Worstall   |   Fri, 1 Jul 2016 05:28:11

USD/JPY unlikely to rise further ahead of US non-farm payroll - MUFG

Research Team at MUFG, notes that the USD/JPY has gradually returned to the 102 level now that the shock of the Brexit vote and end-quarter seasonal f
Sandeep Kanihama / FX Street   |   Fri, 1 Jul 2016 05:21:18

Brexit Due to Failure of Elites, Not Bigotry of Masses

Bigotry! Nativism! Racism! That's what elites in Britain, Europe and here have been howling, explanations for why 52 percent of a turnout of British voters voted for their nation to leave the European Union. But there is plenty of bigotry, condescension and snobbery in the accusations and the people making ...
Michael Barone / Real Clear Politics   |   Fri, 1 Jul 2016 05:13:28

The 10 most important things in the world right now

Hello! Here's what you need to know on Friday. 1. Former London mayor and avid Brexit supporter Boris Johnson announced on Thursday he will not be entering the race to become the next Conservative leader of Britain. Johnson was the early favourite to take over from the outgoing Prime Minister ...
Business Insider   |   Fri, 1 Jul 2016 05:00:28

Putin dares Britain to go through with Brexit

Peter Foster / Telegraph   |   Fri, 1 Jul 2016 05:00:00

UK easing hints, Brexit Down Under and a 14-year-old art prodigy

The Bank of England is preparing to unleash another round of monetary stimulus Continue reading: UK easing hints, Brexit Down Under and a 14-year-old art prodigy
Jennifer Thompson / FT Alphaville   |   Fri, 1 Jul 2016 04:57:51

Banking Index (BKX) Bounces Off Critical Support Level

Considering the BREXIT noise and subsequent chatter about the banks and banking index, I thought we should take some time on the subject. What are the charts saying about bank... The post Banking Index (BKX) Bounces Off Critical Support Level appeared first on See It Market .
See It Market   |   Fri, 1 Jul 2016 04:56:11

JGB yields hit record lows on global economy worries

TOKYO, July 1 (Reuters) - Japanese government bond yields dropped to record lows on Friday, with concerns about the global economy in the wake of Brexit supporting sovereign debt globally.
Reuters   |   Fri, 1 Jul 2016 04:49:42

Brexit crisis will hit confidence and activity in the UK - Westpac

Research Team at Westpac, suggests that as far as Brexit is concerned clearly much will depend on who emerges as the new Prime Minister and what polic
Sandeep Kanihama / FX Street   |   Fri, 1 Jul 2016 04:48:59

Brexit: The week that brought Britain to its knees

The gasps were audible, the stares of disbelief wide-eyed. This was big news. Massive. And nobody had seen it coming.
CNN   |   Fri, 1 Jul 2016 04:45:36

Students speak out on Brexit

In Manchester, seven students worry about racism, jobs and uncertainty
FT   |   Fri, 1 Jul 2016 04:30:53

Tough start for financial watchdog's new chief

Brexit fallout top of the agenda as Andrew Bailey takes FCA reins
FT   |   Fri, 1 Jul 2016 04:30:40

How the EU single market works

Brexit vote has thrown up big questions about future trading
FT   |   Fri, 1 Jul 2016 04:30:26

Asian stocks look to erase Brexit losses

Asian stocks rose for a third straight day as investors made bets policymakers will take steps to boost growth and prevent further market uncertainty.
BBC   |   Fri, 1 Jul 2016 04:00:57

Brexit Was Caused by Failure of Elites, Not Bigotry of Masses

Bigotry! Nativism! Racism! That's what elites in Britain and Europe, and here, have been howling, as explanations for why 52 percent of a turnout of British voters voted for their nation to leave the European Union.But there is plenty of bigotry, condescension, and snobbery in the accusations and the people ...
Michael Barone / National Review   |   Fri, 1 Jul 2016 04:00:54

Boris Johnson and the Years of a Clown

The colorful Conservative politician won Brexit, only to lose his chance to be prime minister.
D. D. GUTTENPLAN / NY Times   |   Fri, 1 Jul 2016 04:00:00

Asian stocks headed for weekly rise, higher oil underpins

The Asian equities trade on a firmer note this Friday, having reversed almost half the post-Brexit slump, and now remain poised to book weekly gain as
Dhwani Mehta / FX Street   |   Fri, 1 Jul 2016 03:47:28

The Brexit Is Terrible for European Startups, But There Are Some Positives

The "United" Kingdom just punched the European startup scene in the face, and things will get very tricky for startups in Europe in the next 6-24 months. However, there are some positives to be gleaned from the situation.
Adeo Ressi, Contributor / Forbes   |   Fri, 1 Jul 2016 03:29:00

Independent: Brexit: Bank of England Governor signals interest rate cut

He may end up getting kicked out. So, my long predicted rate cut is about to come to pass. Expectations are that it will be a 25bp cut to 0.25%. However, 2yr Gilts are being bid up bigly, to quote the next President of the USA, with rates collapsing on ...
libertas / House Price Crash   |   Fri, 1 Jul 2016 03:26:38

Volatility Lessons For A Week Of Angst; Market Movement In Stocks and Futures Beyond Expectations.

When the Brexit deal was all but done and most traders and odds-makers had made their conclusions, the voters made their decision. It appears that many of the voters would be interested in changing their tally as the economic impact of their choice was far more wide reaching than expected. ...
Fred Oltarsh, Contributor / Forbes   |   Fri, 1 Jul 2016 02:55:00

Friday Watch

Evening HeadlinesBloomberg: What Europe Wants Out of the Brexit Talks. (video) Japan's Prices Keep Falling in Challenge to Abe, Kuroda. With a little more than a week until Japan goes to the polls for an upper-house election, a batch of economic data released Friday underscores the challenge Prime Minister Shinzo ...
Between the Hedges   |   Fri, 1 Jul 2016 02:53:00

Don't buy into the sentiment swings of Brexit: Strategist

The Brexit story will drag on for a while and might discourage investments in the U.K. and Europe, notes Silvercrest AM's Patrick Chovanec.
CNBC   |   Fri, 1 Jul 2016 02:29:00

GLOBAL MARKETS-Asia stocks rise as risk appetite recovers, pound under fresh pressure

TOKYO/ SINGAPORE, July 1- Asian stocks rose on Friday as risk appetite continued to recover from last week's Brexit shock, but the pound came under renewed pressure after the Bank of England's governor hinted at an interest rate cut ahead. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.4 ...
CNBC   |   Fri, 1 Jul 2016 02:27:00

UK stimulus hint boosts $A

The Austalian dollar has rallied as global investor confidence improves on the prospect post-Brexit vote stimulus in the UK.
SMH   |   Fri, 1 Jul 2016 02:26:18

Friday: Auto Sales, ISM Mfg, Construction Spending

From Paul Krugman: The Macroeconomics of Brexit: Motivated Reasoning?. From the intro: I believe that Brexit is a tragic development, which will do substantial long-run economic harm. But what we're hearing overwhelmingly from economists is the claim that it will also have severe short-run adverse impacts. And that claim seems ...
Calculated Risk   |   Fri, 1 Jul 2016 02:12:00

Forget Brexit: The Real Reasons Stock Market Bears Are About to Strike Back

usa-stocks_3.jpg BRENDAN MCDERMID Anthony MirhaydariJuly 1, 2016 Another "Black Swan" selloff has reversed itself in another neck-snapping V-shaped rebound. We saw it with the Greek protests in 2010, the U.S. debt-ceiling crisis in 2011, Euro bailouts in 2012, the fiscal cliff in 2012, the Ebola scare in 2014, Chinese currency ...
jherr / Fiscal Times   |   Fri, 1 Jul 2016 02:11:21

Chicago PMI, Restaurant performance index, Brexit comment

Nice move higher in this highly volatile series. Employment however, moved lower as it has in most surveys: Highlights Volatility is the name of the game when it comes to the Chicago PMI which surged in June to a 56.8 level that is far beyond expectations and follows a sub-50 ...
WARREN MOSLER / Center of the Universe   |   Fri, 1 Jul 2016 02:03:35

The New Narrative For Earnings: Blame Brexit

Every quarter there is always a fallback narrative put forth as to why companies fail to meet earnings expectations, and we now have that narrative for the rest of 2016 (and perhaps through 2025): Brexit. As we discussed yesterday, as we enter into Q2 earnings season the main focus on ...
Tyler Durden / Zero Hedge   |   Fri, 1 Jul 2016 02:00:00

Benchmark JGB yield hits record low as global economy worries linger

TOKYO, July 1 (Reuters) - The benchmark 10-year Japanese government bond yield fell to a record low on Friday as lingering concerns about the global economy following the Brexit vote continued to...
Reuters   |   Fri, 1 Jul 2016 01:57:13

Britain's Best Option to Undo Brexit

© Luke MacGregor / Reuters By CJ Arlotta,The Fiscal TimesJuly 1, 2016 Adding more confusion to the muddled political mix created by the United Kingdom's Brexit vote last week, Boris Johnson, the former London mayor who became the public face of the "Leave" camp, said Thursday that he's bowing out ...
jherr / Fiscal Times   |   Fri, 1 Jul 2016 01:55:55

Post-Brexit Bet: Emerging Markets

A week after the U.K. vote to leave the European Union sparked a global market rout, some investors are already betting that emerging markets are on their way back.
WSJ   |   Fri, 1 Jul 2016 01:55:14

Gold holds overnight gains, heads for fifth weekly gain

Gold held on to its overnight gains in Asian trade and was headed for its fifth straight weekly gain after post-Brexit recovery in equity markets.
CNBC   |   Fri, 1 Jul 2016 01:50:00

Tidjane Thiam's One-Year Anniversary Gift at Credit Suisse: Brexit Upheaval

A year after he took the helm at Credit Suisse, Tidjane Thiam's already-fraught attempt to revamp the Swiss bank faces a new hurdle: market turmoil sparked by the U.K.'s exit vote.
WSJ   |   Fri, 1 Jul 2016 01:45:29

CTAs Shine Through Brexit Selloff

Societe Generale's SG CTA Index is the latest measure to suggest trend-following hedge funds were able to successfully navigate the volatility unleashed late last weekl by Britain's decision to leave the European Union. read more
Steve Lord / FINalternatives   |   Fri, 1 Jul 2016 01:42:43

Why Japan Should Crush The Yen

Yesterday we looked at some key markets-some that have recovered nicely following the Brexit news and others that are still down on either safe-haven demand or speculation of economic drags due to the Brexit. One particular spot that hasn't fared well in the past week is Japan. Japan is three ...
Bryan Rich, Contributor / Forbes   |   Fri, 1 Jul 2016 01:37:00

Brexit Is No Bust for U.S. Manufacturing

An improving U.S. manufacturing sector is expected to stay on track regardless of Brexit.
WSJ   |   Fri, 1 Jul 2016 01:36:19

Watch your back

Boris Johnson won't run for Tory leader after Brexit ally Michael Gove said he was the wrong man for the job.
BBC   |   Fri, 1 Jul 2016 01:31:28

Why Angry Baby Boomers Gave Us Trump And Now, Brexit

So long, Boris: Former London Mayor and Conservative MP Boris Johnson drops out of the race for party leader on Thursday in London (Dan Kitwood/Getty Images) As the fallout from the Brexit vote continues, and politicians hem and haw andslice each other up, and Donald Trump continues fumbling toward the ...
John McQuaid, Contributor / Forbes   |   Fri, 1 Jul 2016 01:19:00

After Boris

As Noah Daponte-Smith has explained over on the home page, Boris Johnson has, as The Sun put it, been 'Brexecuted', his bid for the Conservative leadership destroyed just before lift-off by the announcement that Justice Minister Michael Gove, his ally in the battle of Brexit, had, well, decided to put ...
National Review   |   Fri, 1 Jul 2016 01:14:34

London's Loss Is Dubai's Gain

Dubai is rising as the emerging markets financial capital in the wake of Brexit.
Elizabeth MacBride, Contributor / Forbes   |   Fri, 1 Jul 2016 01:11:00

Reuters Poll: Equity Allocations Hit 5-Year Low in June

Global investors bought real estate, added to cash holdings and cut equity allocations to the lowest in at least five years as this month's shock Brexit vote added to an already toxic mix of sluggish world growth and volatile markets. read more
FINalternatives   |   Fri, 1 Jul 2016 01:06:20

UPDATE 2-S.Korea June exports fall for 18th month, Brexit sows uncertainty

* June exports -2.7 pct y/y (Reuters poll: -8.3 pct, May exports -6.0 pct)
Reuters   |   Fri, 1 Jul 2016 01:02:53

Boris Johnson: The Years of a Clown

The colorful Conservative politician won Brexit, only to lose his chance to be prime minister.
D. D. GUTTENPLAN / NY Times   |   Fri, 1 Jul 2016 00:51:00

FTSE 100 experiences major upside breakout

I was skeptical of the downside breakouts last Friday in numerous global stock indexes because they were with Brexit. Equally -- and oppositely -- I am impressed by the upside advance in the FTSE today against the backdrop of doom and gloom predictions for the British economy... The post FTSE ...
Peter Brandt   |   Fri, 1 Jul 2016 00:48:21

Five declare candidacies to lead U.K.'s Conservatives, pave way for Brexit in Cameron's wake

There are five candidates competing for the position of leader of Britain's Conservative Party. The winner, to be announced Sept. 9, will become prime minister and is expected to lead negotiations to take Britain out of the European Union. Here are brief descriptions of the candidates: THERESA MAY Home Secretary ...
Japan Times   |   Fri, 1 Jul 2016 00:43:45

Brexit could be worse than Grexit: Wealth manager

Looking at the outlook for European banks, there is higher systemic risk from Brexit than Grexit, says Taurus Wealth Advisors's Rainer Michael Preiss.
CNBC   |   Fri, 1 Jul 2016 00:41:00

Slowdown in Merger Deals Attributed to Political Uncertainty

Mergers and acquisitions bankers and lawyers pegged the decline to concerns about antitrust regulation, the United States presidential election and last week’s Brexit vote.
LESLIE PICKER / NY Times   |   Fri, 1 Jul 2016 00:40:53

Labour's John McDonnell to give response to Brexit vote

Shadow Chancellor John McDonnell is to set out Labour's response to the EU referendum in a speech in London.
BBC   |   Fri, 1 Jul 2016 00:39:37

The Brexit Bounce That Won't Carry Investment Banks Far

Currency trading has rebounded since the U.K. referendum, but other areas are still weak.
WSJ   |   Fri, 1 Jul 2016 00:33:13

GLOBAL MARKETS-Asia gains as risk appetite recovers, pound under fresh pressure

TOKYO, July 1- Asian stocks rose on Friday as global riskier assets continued to recover from last week's Brexit shock, while the pound came under renewed pressure after the Bank of England's governor hinted of an interest rate cut ahead. The index has recovered nearly all the losses suffered last ...
CNBC   |   Fri, 1 Jul 2016 00:20:00

'Brexit' Continues To Show Up Failings Of Britain's Political Leadership

They say a week is a long time in politics. Well, it has certainly been a long one in Britain these past seven days. With pundits being wrong-footed on a daily basis, the uncertainty is so extreme it can almost be discounted. It has got to the point where almost ...
Roger Trapp, Contributor / Forbes   |   Fri, 1 Jul 2016 00:16:00

Grotesque Anti-Semitism of the Labour Party

( John Hinderaker ) The world's press has portrayed Brexit as a disaster and the Conservatives as a party in disarray. But the real fiasco is going on in the Labour Party, where Jeremy Corbyn lost a no-confidence vote within his party by 172 to 40, but refuses to resign. ...
Power Line   |   Fri, 1 Jul 2016 00:11:03

Vox Sentences: BoJo jus havin a laff innit

Britain to US: You like dysfunctional parties? We'll show you dysfunctional parties. Vox Sentences is written by Dylan Matthews and Dara Lind. TOP NEWS There is only one word to describe this, and that word is Dan Kitwood/Getty Images Boris Johnson, the former mayor of London who was widely considered ...
Vox   |   Fri, 1 Jul 2016 00:00:03

People 'scared to leave the house' after rise in hate crime post-Brexit vote

Sophie Jamieson / Telegraph   |   Thu, 30 Jun 2016 23:56:30

Investors rush for havens post-Brexit

Equity funds suffer outflows of more than $20bn, the largest one-week exit since August 2015
FT   |   Thu, 30 Jun 2016 23:56:29

Op-Ed Contributor: Boris Johnson: The Years of a Clown

The colorful Conservative politician won Brexit, only to lose his chance to be prime minister.
D. D. GUTTENPLAN / NY Times   |   Thu, 30 Jun 2016 23:49:03

Slavoj iek on Brexit, the crisis of the Left, and the future of Europe

The Slovenian philosopher tells Benjamin Ramm that the survival of the European project is too important to be left to a referendum. Slavoj iek. (Fair use) Slavoj iek is animated about Brexit. "You know", he insists, "popular opinion is not always right - sometimes I think one has to violate ...
Open Democracy   |   Thu, 30 Jun 2016 23:41:07

Siemens UK warns that Brexit vote could hit investment

One of the UK's biggest industrial companies, Siemens UK, tells the BBC that future investment could be hit in the wake of the Brexit vote.
BBC   |   Thu, 30 Jun 2016 23:35:54

How WWE Can Use Brexit As A Template For The Brand Split

Brexit has sent an entire nation into panic as the United Kingdom prepares to leave the European Union. And with WWE's own brand split looming, it can use this world controversy to shake up a currently stagnant product.
Alfred Konuwa, Contributor / Forbes   |   Thu, 30 Jun 2016 23:24:00

Boris Johnson and the Crisis of British Leadership

Having started out as a drama and turned into a tragedy, the Brexit story line has now descended into farce. On a day when the governor of the Bank of England indicated that he and his colleagues would have to take emergency action to protect the British economy from the ...
New Yorker   |   Thu, 30 Jun 2016 23:14:21

Freedom? English head north

Britain really has been turned upside down after the Brexit: the English are heading north.
Austrailian   |   Thu, 30 Jun 2016 23:11:00

Strategies: Why Will Markets Recover From Clues From Past Crises

History provides some limited reassurance to the market turmoil after Britain’s vote to leave the European Union.
JEFF SOMMER / NY Times   |   Thu, 30 Jun 2016 22:43:20

Biotech's Top 5 Losers, and Winners, From Q2 2016

Three months ago, I wrote here about the worst quarter of stock performance the biotechnology industry had seen in more than a decade. There were some harrowing moments the past few months in the markets, especially with the Brexit. But there was good news: The second quarter of 2016 was ...
Luke Timmerman, Contributor / Forbes   |   Thu, 30 Jun 2016 22:28:00

Brexiters at war as Johnson pulls PM bid

Michael Gove turns on Leave ally and joins race for Tory leadership
FT   |   Thu, 30 Jun 2016 22:24:53

No Boris, No Brexit? Five Scenarios For What Happens Next in Britain's European Union Crisis

On June 23, Britain voted to end its 50-year membership of what has become the European Union. One week later, Boris Johnson, Britain's version of Donald Trump and leader of the "Leave" campaign, walked away from the potential task of having to implement it as Prime Minister. So "Bexit" came ...
Andrew Cave, Contributor / Forbes   |   Thu, 30 Jun 2016 22:21:00

The World Next Week: June 30, 2016

The British government faces challenges resulting from the Brexit vote, Poland hosts a NATO summit, and Juno peers through Jupiter.
CFR   |   Thu, 30 Jun 2016 22:17:44

Are Credit Cards More Innovative Than FinTech Startups?

Shutterstock Although Brexit has dominated the headlines from the UK, another milestone has quietly beenreached this week. Barclaycard, the largest and first credit card issuer in the UK, turned 50 years old. In the 1960s, on both sides of the Atlantic, a revolution in how we make payments and borrow ...
Nick Clements, Contributor / Forbes   |   Thu, 30 Jun 2016 21:52:00

10 things we learned at Brookings in June

As June comes to an end, a review of content produced by Brookings experts shows another month of analysis and commentary on the widest range of issues possible. While Brexit dominated the headlines at month's end, there was much more on our scholars' plates (but we'll still lead off with ...
Brookings   |   Thu, 30 Jun 2016 21:45:00

Brexit leads to expats considering switching passports

Press Association / Telegraph   |   Thu, 30 Jun 2016 21:36:50

Jim Simons - Math PhDs running the markets "The Way It Should Be"

A rare interview with Jim Simons mostly on politics but also some finance - see the videos below Also see Jim Simons: From NSA Codebreaker To Top Performing .. James Simons, Renaissance Technologies founder, discusses the potential for the Brexit vote [...] The post Jim Simons - Math PhDs running ...
Value Walk   |   Thu, 30 Jun 2016 21:32:03

Can You Believe It? Dow Industrials End Year's First Half Higher, Brexit Be Damned

We've had Brexit , global growth scares , a Fed that desperately wanted to hike interest rates , and one particularly nasty correction . Yet stocks finished the first half of the year solidly in the green. The S&P 500 has gained 2.7% to 2,098.86 during the first six month ...
Ben Levisohn / Stocks To Watch   |   Thu, 30 Jun 2016 21:14:59

Keep Calm And Carry On: Investing Giant Howard Marks On What To Do Post-Brexit

Oaktree Capital Group chairman and prominent investor Howard Marks spoke with FORBES on Wednesday about his views on Brexit and why it might be wise for investors to tune out the day's talking heads.
Derek Xiao, Contributor / Forbes   |   Thu, 30 Jun 2016 21:11:00

UPDATE 1-Fed's swap line hints at little market stress after Brexit

NEW YORK, June 30 (Reuters) - The Federal Reserve provided just $2 million of liquidity to foreign central banks in the latest week via its swap lines, the New York Fed said on Thursday, and analysts...
Reuters   |   Thu, 30 Jun 2016 21:07:06

Looking For Post-Brexit Stock Buys? Shop Legg Mason

Looking for a post-Brexit stock buy among asset managers? Check out Legg Mason (LM), says Citigroup analyst William Katz. He says that the past week of "Brexit" noise appears to be creating an "attractive entry point" for the Baltimore-based asset manager. Shares added 1.1% on Thursday. Here's Katz: "Following a ...
Chris Dieterich / Focus on Funds   |   Thu, 30 Jun 2016 21:05:09

The Macroeconomics of Brexit: Motivated Reasoning?

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

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

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

Week Ahead - BOE Reacts to Brexit Vote

BOE Governor Mark Carney Said Rate Cuts Will Be Needed as UK Growth Slows Down Global markets bounced back on Thursday as the end of the quarter flows and the reality of a prolonged Brexit process added much needed stability. Bank of England (BoE) Governor Mark Carney brought further pressure ...
Alfonso Esparza / OANDA   |   Thu, 30 Jun 2016 20:59:31

Lloyds stuns US market with US$1bn post-Brexit bond

Lloyds Banking Group reopened the US dollar market for financial sector names on Thursday, finding strong demand just days after the UK's vote to leave the European Union sent credit spreads wider.
IFR   |   Thu, 30 Jun 2016 20:48:00

JPM Head Quant Explains How The Algos Traded The Brexit Crash, And Why He Sees "Elevated Risk"

When looking at the kneejerk devastation in the aftermath of the Brexit vote, JPM's head quant Marko Kolanovic said that he expects up to $300 billion in program selling, coupled with 5-10% in near-term downside to the S&P500. While Kolanovic was correct about quant and technical fund flows, what he ...
Tyler Durden / Zero Hedge   |   Thu, 30 Jun 2016 20:47:51

ETF Performance Report: Q2 & June

U.S. equities and stock exchange traded funds extended its post-Brexit rally on the last day of June, ending the first half of the year on a positive note after Bank of England Governor Mark Carney assuaged market fears and signaled a potential rate cut over the summer. The Dow Jones ...
ETF Trends   |   Thu, 30 Jun 2016 20:42:01

Gold Daily and Silver Weekly Charts - Hi Yo Silver!

Tony Sanders made a confoundedly interesting observation today. "I keep hearing from anti-Brexit cheerleaders that it is about immigration. While there may be some who voted for Brexit to get their borders under UK control again, it is mostly about the big banks and who is going to bail them ...
Jesse's Café Américain   |   Thu, 30 Jun 2016 20:37:00

WATCH: Brookings experts discuss Brexit

"The Labour Party is in a state of utter collapse," Thomas Wright declared in a conversation with other Brookings scholars about the U.K. vote to leave the EU and the shock waves that the so-called "Brexit" has already set off. Economists Homi Kharas and Aaron Klein highlighted the effect Brexit ...
Tess Snodgrass and Fred Dews / Brookings   |   Thu, 30 Jun 2016 20:35:00

Questor share tip: Hammerson is strong enough to weather Brexit storm

Rhiannon Bury / Telegraph   |   Thu, 30 Jun 2016 20:33:24

Stocks soar again, regain nearly all of Brexit losses

Seeking Alpha / Seeking Alpha   |   Thu, 30 Jun 2016 20:25:19

Nowhere To Hide In Europe - Equity Correlations Are Historically High

Nowhere To Hide In Europe - Equity Correlations Are Historically High by Eric Bush, CFA - Gavekal Capital Blog Equity correlations have spiked to the highest level in years presumably thanks to Brexit. The 20-day correlation between the GKCI DM [...] The post Nowhere To Hide In Europe - Equity ...
Gavekal Capital Blog / Value Walk   |   Thu, 30 Jun 2016 20:25:07

EU wants to move forward after Brexit

Great Britain's prime minister election is slowing the legal processes associated with Brexit.
CNBC   |   Thu, 30 Jun 2016 20:20:00

Some Traders See Emerging Markets Coming Back

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

After Vote, Europeans Jockey for London’s Business

As Britain faces high levels of uncertainty, companies and cities across Europe hope to profit by luring businesses and helping those wishing to move.
MARK SCOTT, JACK EWING and CHAD BRAY / NY Times   |   Thu, 30 Jun 2016 20:15:53

Silver Surges To 21-Month Highs, Gold-Ratio Crashes

While gold surged to its highest since March 2014 on Brexit; Silver is nearing $19, up almost 9% since Brexit, breaking above Jan 2015 highs to its highest since Sept 2014... Gold has not been this 'cheap' to Silver since May 2015... If gold is institutional safe-haven buying then many ...
Zero Hedge   |   Thu, 30 Jun 2016 20:15:00

Millennials bought stocks even after Brexit

Young investors were more aggressive than their older cohorts during the Brexit-fueled market turmoil, according to Fidelity stats shared exclusively with CNNMoney. It's part of a broader shift of Millennials becoming more bold during market scares.
CNN   |   Thu, 30 Jun 2016 20:14:54

If You Like Gold, Buy Silver

Gold prices are on the move and last week's Brexit vote is the latest reason why bulls think the rally can carry on. But if you're a gold bull, the next thing you buy ought to be silver , says Michael Purves, chief global strategist and head of equity derivatives ...
Focus on Funds   |   Thu, 30 Jun 2016 20:14:40

Brexit Be Damned: Cinven Hauls In €7B For Sixth Fund

Brexit Be Damned: Cinven Hauls In €7B For Sixth Fund by PitchBook Amid (and in spite of) the market tumult surrounding the U.K.'s vote to leave the EU, Cinven has closed a new Europe-focused investment vehicle-the largest European buyout fund [...] The post Brexit Be Damned: Cinven Hauls In €7B ...
VW Staff / Value Walk   |   Thu, 30 Jun 2016 20:10:56

Brexit Is Bad For Asset Managers' Credit, But Won't Sink Sector

Moody's Dean Ungar and his team take a look at asset managers in the wake of Brexit , arguing that lower investor appetite after the vote are a credit negative for the group. They write that while it's impossible to speculate about the long-term effects at this point, in the ...
Teresa Rivas / Focus on Funds   |   Thu, 30 Jun 2016 20:10:25

S&P 500 shakes off Brexit to 1.9% 2nd-quarter gain

Thursday was the last day of the month, quarter and the end of a roller coaster half-year of trading.
USA Today   |   Thu, 30 Jun 2016 20:09:39

UK move to set CO2 target faces challenge

Lord Lawson think-tank says Brexit may render binding goal on cuts illegal
FT   |   Thu, 30 Jun 2016 20:08:15

Brexit Never Happened

Tim Knight / Tim Knight   |   Thu, 30 Jun 2016 20:04:34

Infrastructure projects are vital to our post-Brexit future

James Quinn / Telegraph   |   Thu, 30 Jun 2016 20:03:38

Brexit vote huge for UK, global markets coping well-Fed's Bullard

LONDON, June 30 (Reuters) - Britain's decision to leave the European Union at a referendum last week is a "huge issue" for the country but is not likely to have much impact on the United States, a...
Reuters   |   Thu, 30 Jun 2016 20:03:03

EU Credit Rating Cut After UK's Brexit Vote

Ratings agency Standard and Poor's says that the UK's intention to leave weakens EU fiscal flexibility and political cohesion.
Sky   |   Thu, 30 Jun 2016 20:02:02

The EU is doomed to fail, Taleb says

Brexit is part of a rebellion that may be spreading, author Nassim Taleb said Thursday.
CNBC   |   Thu, 30 Jun 2016 20:02:00

STOCKS SURGE FOR A 3RD DAY: Here's what you need to know (SPY, SPX, DJI, IXIC, MDLZ, HSY)

Stocks soared for a third straight day and continued to advance towards the levels they topped at before the shocking Brexit vote sent markets spiraling down a week ago. The S&P 500 ended the second quarter with about a 1.7% gain, as it extended its gains for the year above ...
Business Insider   |   Thu, 30 Jun 2016 20:00:39

More stable markets ahead, says expert

The market's stability is due in part to the banks largely passing the stress tests "with flying colors" says one expert.
CNBC   |   Thu, 30 Jun 2016 19:58:00

Why Brexit Is Bad News For UK's Independent Music Industry

A view of the Glastonbury Festival of Music and Performing Arts on Worthy Farm inSouth West England on June 25, 2016, the day after the UK held its fateful referendum on leaving the European Union. (Photo credit: Andy Buchanan/AFP/Getty Images) Much of the recent conversation around Brexit has been speculative, ...
Cherie Hu, Contributor / Forbes   |   Thu, 30 Jun 2016 19:57:00

Mexican Central Bank Raises Rates After Brexit Fallout

Mexico's central bank aggressively raised its key interest rate more than expected on Thursday in a bid to support the peso and calm concerns that currency weakness could inflame inflation. The Banco de Mexico raised its key rate by half a percentage point to 4.25 percent, above the 25 basis-point ...
Alfonso Esparza / OANDA   |   Thu, 30 Jun 2016 19:56:24

Anti-Brexit Elites Aren't The Ones Who Suffer from Their Policies

Image credit: istockAnalysis and Commentaryvia National Review Following the Brexit, Europe may witness even more plebiscites against the undemocratic European Union throughout the continent.
Victor Davis Hanson / Hoover Institution   |   Thu, 30 Jun 2016 19:53:28

The Brexit Effect: The Signals Amidst the Noise

There are few events that catch markets by complete surprise but the decision by British voters to leave the EU ... View the full post at: The Brexit Effect: The Signals Amidst the Noise
Aswath Damodaran / Wall Street Pit   |   Thu, 30 Jun 2016 19:51:56

US Leveraged Loan Issuance Surges In Second Quarter, Though Brexit Looms

Buoyed by a fresh wave of opportunistic issuance, U.S. leveraged loan volumeincreased to $118.7 billion in the second quarter from $90.9 billion in the first, according to LCD, an offering of S&P Global Market Intelligence. Of particular note, institutional issuance increased more than twofold, to $86.1 billion, from $40.7 billion ...
Kerry Kantin, Contributor / Forbes   |   Thu, 30 Jun 2016 19:47:00

UPDATE 1-S&P downgrades European Union to 'AA' after Brexit

June 30 (Reuters) - Ratings agency Standard & Poor's cut the European Union's credit score on Thursday, citing concerns about the unity of the bloc after Britain's decision to leave, but a senior EU...
Reuters   |   Thu, 30 Jun 2016 19:44:45

Canada's GDP edges up for first time in three months, but growth spurt unlikely to last

The 0.1% growth is a positive start to a quarter that's expected to get worse, with the Alberta wildfire impact still to come and the unexpected wildcard of the Brexit fallout
Gordon Isfeld / Financial Post   |   Thu, 30 Jun 2016 19:41:15

Brexit vote leads S&P to cut European Union credit rating

Ratings agency Standard and Poor's cuts its credit grade for the European Union after the UK's Brexit vote.
BBC   |   Thu, 30 Jun 2016 19:37:41

Letters: After the Vote

Readers react to the stunning result of the referendum.
/ NY Times   |   Thu, 30 Jun 2016 19:37:15

U.S. Corporate Earnings Are Set To Improve, But Brexit Impact Looms

Drama across the pond could negatively impact companies that do business there.
Lauren Gensler, Forbes Staff / Forbes   |   Thu, 30 Jun 2016 19:36:00

Brexit - The Prisoners' Dilemma Of Britain And The EU

Brexit The Prisoners' Dilemma Of Britain And The EU by Iain Murray, Foundation For Economic Education The world economy roiled following Britain's vote to leave the European Union. Uncertainty was the cause. Even the scope of the potential deal is [...] The post Brexit - The Prisoners' Dilemma Of Britain ...
Guest Post / Value Walk   |   Thu, 30 Jun 2016 19:30:41

FTSE 100 hits 10-month high as Mark Carney signals Bank of England will cut interest rates after Brexit

Tara Cunningham / Telegraph   |   Thu, 30 Jun 2016 19:29:55

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

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

Brexit and the Idea of European Disintegration

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

Airports Expansion Decision Delayed Again

The fallout from the Brexit vote means there will be no decision on raising airport capacity until the autumn at least.
Sky   |   Thu, 30 Jun 2016 19:26:51

Don't Chase This Rally; Weak Outlook for Stocks

As stocks roar back from Brexit lows, bonds, defensive sectors and gold are leading the charge higher.
Barrons   |   Thu, 30 Jun 2016 19:24:53

GBP/CAD approaches post-Brexit lows after Carney

The GBP/CAD cross plummeted to 1.7147, stalling a couple of pips above the post-Brexit vote low, and remains nearby, with the pound in sell-off mode a
Ani Salama / FX Street   |   Thu, 30 Jun 2016 19:22:53

Gaffe Track: Trump's Wee Scottish Blunder

The candidate: Donald J. Trump The gaffe: Trump arrived in Scotland hot on the heels of the Brexit vote last week, ready to promote his Turnberry golf resort. He cheerily reported: Just arrived in Scotland. Place is going wild over the vote. They took their country back, just like we ...
David A. Graham / The Atlantic   |   Thu, 30 Jun 2016 19:22:42

Brexit Opens Opportunity for Europe ETFs

European markets were among the most heavily sold in the wake of the U.K.'s referendum vote. However, the Brexit sell-off may have opened up an opportunity for long-term investors to gain exposure to Europe related exchange traded funds on the cheap. European markets have been rebounding off the Brexit sell-off, ...
Max Chen / ETF Trends   |   Thu, 30 Jun 2016 19:18:45

Gold steadies, set for best month since February after Brexit shock

Gold steadied, set for biggest monthly rise since February in the wake of Brexit.
CNBC   |   Thu, 30 Jun 2016 19:15:00

The Brexit contagion could consume the French elite next

Editor's Note: After the U.K.'s referendum on membership of the EU, France is now being forced to look at itself in a mirror and ask itself if it will rally around the European ideal and forge an alliance with Germany to save the EU or if it will follow the ...
Philippe Le Corre / Brookings   |   Thu, 30 Jun 2016 19:00:00

Sir Roger Scruton on Brexit

( Steven Hayward ) I don't know why I didn't of looking weeks or months ago to see what SIR Roger Scruton had to say about the Brexit question, but naturally it turns out he said quite a lot, and all of it sensible. This video from last December is ...
Steven Hayward / Power Line   |   Thu, 30 Jun 2016 18:55:03

Here's the challenge that the Brexit vote poses now

Voters around the world have indicated they're not afraid to take a flying leap. Here's the real challenge that poses, says former House Majority Leader Eric Cantor.
CNBC   |   Thu, 30 Jun 2016 18:54:00

Sterling falls as Carney speaks, Yuan touches six-month low

The British pound traded more than 1 percent lower after Mark Carney, the head of the Bank of England, made remarks about the U.K. economy following the Brexit vote.
CNBC   |   Thu, 30 Jun 2016 18:50:00

You Gotta Be Kidding Me: Dow Jumps 190 Points as Brexit Might as Well Not Exist Anymore

The market really could care less about Brexit as stocks looks set for their third consecutive gain of 1% or more after the Bank of England said it sees rate cuts in the future . The S&P 500 has risen 1% to 2,092.21 at 2:35 p.m. today, while the Dow ...
Ben Levisohn / Stocks To Watch   |   Thu, 30 Jun 2016 18:49:17

Brexit and the Leadership Equivalent of Empty Calories

Mark Blyth of Brown University and Gianpiero Petriglieri of INSEAD discuss Britain's vote to leave the European Union.
HBR   |   Thu, 30 Jun 2016 18:49:06

Chris Wood: "It Will Take A Political Genius To Hold The EU Together", Italy Is The Flash Point

CLSA's Chris Wood, author of the popular Greed and Fear newsletter, chimes in on the consequences for Brexit with a note titled Dynamic" in which he focuses not so much on Britain as Italy and specifically the proposed Italian bailout which was first reported here and which circumvents European bailout ...
Tyler Durden / Zero Hedge   |   Thu, 30 Jun 2016 18:47:58

Our Skewed Politics on Gun Ownership Are a Deadly Joke

By Sonali Kolhatkar The National Rifle Association and lawmakers who pander to it bear much of the blame for our ridiculous gun laws, but it's up to ordinary Americans to fix the problem. Related Entries June 29, 2016 Comments of the Week: On the Meaning of Brexit June 27, 2016 ...
truthdig   |   Thu, 30 Jun 2016 18:45:58

Stock rally extends to 3rd day as Dow up 200 points

After 2 big up days following 2 big down days after the Brexit vote, U.S. stocks up again.
USA Today   |   Thu, 30 Jun 2016 18:44:32

Brexit: The U.K.'s New Political Risk Equation

The pain goes on for the pound. The U.K.'s reputation as a haven has been tarnished.
Heard on the Street   |   Thu, 30 Jun 2016 18:43:17

Unlike politicians, Mark Carney looks to be taking the initiative post-Brexit

The Bank of England governor could have held off for sterling to settle to announce a likely cut in interest rates, but why wait? "[A] plan beats no plan," said the Bank of England governor, Mark Carney, which was presumably a dig at the squabbling political class. And here's the ...
Nils Pratley / Guardian   |   Thu, 30 Jun 2016 18:42:27

The "Losers" Of Globalization Didn't Lose From Globalization

The "Losers" Of Globalization Didn't Lose From Globalization by Chelsea German, Foundation For Economic Education A recent Washington Post analysis has argued that political events as diverse as the Brexit and the rise of Donald Trump can be explained by a "revolt" of [...] The post The "Losers" Of Globalization ...
Value Walk   |   Thu, 30 Jun 2016 18:41:06

EU's credit rating downgraded after UK's vote to leave

S&P says European Union's status as safe haven for investments is now AA rather than AA+ The European Union has suffered a downgrade of its long-term credit rating following the UK's Brexit vote last week. In a move that will increase the borrowing costs for the 28-member bloc, the credit ...
Phillip Inman Economics correspondent / Guardian   |   Thu, 30 Jun 2016 18:34:22

Common Sense: After Finding a New London for the Financial World to Call Home

Our columnist handicaps the race for the biggest financial prize since London was thrust to the fore.
JAMES B. STEWART / NY Times   |   Thu, 30 Jun 2016 18:33:15

UPDATE 2-Bank of England's Carney sees need for summer stimulus after Brexit shock

LONDON, June 30- Bank of England Governor Mark Carney said the central bank would probably need to pump more stimulus into Britain's economy over the summer after the shock of last week's decision by voters to leave the European Union. Carney also said he would not consider resigning from the ...
CNBC   |   Thu, 30 Jun 2016 18:33:00

Charting US banks' exposure to Brexit

At a time when banks face pressure on a number of fronts, the situation in Europe doesn't help.
CNBC   |   Thu, 30 Jun 2016 18:31:00

Keep Calm and Carry On...25 Brexit Bargains

The renewed downturn in interest rates and the rise in dividend yields helps to offset some of the Brexit bad news.
John Buckingham, Contributor / Forbes   |   Thu, 30 Jun 2016 18:30:00

Delta, United, American: Brexit Made A Bad Year Much Worse For Airlines

Recent dips and dives of airline shares have been largely attributed to Brexit but are the Brits really to blame?
Rachel Reisman, Contributor / Forbes   |   Thu, 30 Jun 2016 18:26:00

EU Trade Commissioner: No trade talks until full Brexit

The European Union's top trade official says the UK cannot begin negotiating terms for doing business with the bloc until after it has left the EU.
BBC   |   Thu, 30 Jun 2016 18:23:25

Unions urge EDF to delay Hinkley decision

Three labour groups say Brexit vote means it is necessary to postpone board sign-off on project
FT   |   Thu, 30 Jun 2016 18:21:09

This Facebook post is a perfect explanation of how nonsensical Brexit has made UK politics

UK politics has been in utter turmoil since the country voted to leave the European Union last Thursday, and it's completely understandable if you're confused. This excellent Facebook post from Benjamin Blaine underscores just how batty the whole situation is: On the off chance that doesn't clear things up, here's ...
Dylan Matthews / Vox   |   Thu, 30 Jun 2016 18:20:02

Canada has much bigger worries than Brexit

While the rest of the world is freaking out about Brexit, or writing about how we shouldn't be freaking out about Brexit, or worrying that other countries will follow suit, at least one country isn't thinking about it. Canada. That is mostly because Canada's economy isn't meaningfully affected by Europe's. ...
Chloe Pfeiffer / Business Insider   |   Thu, 30 Jun 2016 18:19:00

June's Best Reads: Brexit, Sushi, and Everyday Inequality

It's once again time for The Atlantic's Business section editors to compile a list of the best things they've read (or listened to) in the past few weeks. This month, several best-loved stories had a similar theme: Examining troubling inequalities that have become so commonplace that most people hardly even ...
Gillian B. White / The Atlantic   |   Thu, 30 Jun 2016 18:18:19

How the City can survive Brexit to thrive

Next couple of years will be ghastly but we'll learn how to get along
FT   |   Thu, 30 Jun 2016 18:17:13

My 350 on BREXIT: Which options are Left?

"To rally behind the immigrant and refugee populations while handling a widely antagonistic white working class base entails significantly new tactics." In the days leading up to Thursday, Jeremy Corbyn was perhaps already attuned to the inevitable outcome of the referendum, stating to Sky News that he is "not going ...
Promise Li / Open Democracy   |   Thu, 30 Jun 2016 18:14:01

How Can Brexit Impact Amazon?

With the United Kingdom voting to end its membership in the European Union last week, there is significant uncertainty in the European economy. The free flow of goods, services and labor may not remain unrestricted across the U.K. and Europe, which could impact Amazon in more ways than one: Fulfillment ...
Trefis Team, Contributor / Forbes   |   Thu, 30 Jun 2016 18:14:00

Current Links

**Most-Recent Must-Reads:** * **Timothy B. Lee**: [Brexit Isn't the Most Serious Threat to the EU - the Euro * **Jay Rosen**: [Facebook Backs Off on the View from Nowhere * **Andrew Golis**: [Comments Are Usually Garbage. We're Adding Comments to **Most-Recent Links:** * **Atrios**: [No One Will...
Grasping Reality   |   Thu, 30 Jun 2016 18:13:28

Brexit's Gift to US Homebuyers: Mortgage Rates Tumble to 3-Year Lows

iStockphoto Janna HerronJune 30, 2016 The rate on the most common mortgage plunged to a three-year low last week following Great Britain's surprising popular vote to exit the European Union, according to two separate surveys that track the rate. That may help give a boost to the housing market. Freddie ...
jherr / Fiscal Times   |   Thu, 30 Jun 2016 18:11:43

Peso Soars To Pre-Brexit Levels As Mexico Raises Rates More Than Expedcted

A day after the most awkward three-way handshake in history between Obama, Trudeau, and Nieto, the latter's central bank just pushed rates higher by a bigger than expected 50bps to 4.25% (exp +25bps). The Peso is surging back (extending its bounce off January lows) retracing all the post-Brexit losses... on ...
Tyler Durden / Zero Hedge   |   Thu, 30 Jun 2016 18:09:27

Shell urges continued free trade and free movement of people post-Brexit

Emily Gosden / Telegraph   |   Thu, 30 Jun 2016 18:02:38

PRO Uncut: James Simons

James Simons discussed his views on computer trading, Brexit, the presidential race and infrastructure spending in an interview on CNBC.
CNBC   |   Thu, 30 Jun 2016 18:02:00

Hedge Funds' Brexit Pain?

Christopher Langner of Bloomberg reports, Hedge Funds' Brexit Pain:Hedge fund managers won't admit it, but they live for the quarter. While some of the bigger firms update clients more often, regular outfits provide an update four times a year, after which investors often decide to redeem their holdings or leave ...
Leo Kolivakis / Leo Kolivakis   |   Thu, 30 Jun 2016 17:59:00

S&P cuts rating on EU to 'double-A' after Brexit

Standard & Poor's is the first major ratings agency to cut rating on the EU
Globe and Mail   |   Thu, 30 Jun 2016 17:58:45

Silver Linings

Last Thursday I was coaching my son's little league team on their improbable quest to Williamsport... when I glanced at the headlines rapidly breaking in Britain: the vote was swelling towards the Brexit. My first thought was to discount the panic tone of the initial reports, as it was still ...
Market Anthropology   |   Thu, 30 Jun 2016 17:52:00

S&P Downgrades EU to AA Due to Brexit

Standard & Poor's Global Ratings said on Thursday it had cut its long-term credit rating on the European Union to 'AA' from 'AA+' after the United Kingdom voted to leave the bloc. "After the decision by the UK electorate to leave the EU...we have reassessed our opinion of cohesion within ...
Alfonso Esparza / OANDA   |   Thu, 30 Jun 2016 17:51:16

Now watch the interest rate outlook shift

Future historians may conclude this is one of the most important ripple effects of the Brexit result
FT   |   Thu, 30 Jun 2016 17:50:55

UPDATE 1-S&P cuts rating on EU to 'AA' after Brexit

June 30 (Reuters) - Standard & Poor's Global Ratings said on Thursday it had cut its long-term credit rating on the European Union to 'AA' from 'AA+' but raised its outlook to
Reuters   |   Thu, 30 Jun 2016 17:50:08

Brexit, The E.U., & The "Special Relationship" Of The U.S./U.K.

Submitted by Charles Hugh-Smith of OfTwoMinds blog, Any clique in the E.U. that thinks the U.S. will sit idly by while they "punish" the U.K. had better recalibrate their core interests and the potential for blowback. One constant in a fast-shifting global chess board is the special relationship between the ...
Tyler Durden / Zero Hedge   |   Thu, 30 Jun 2016 17:50:00

UK's 'second deficit' threatens household living standards after Brexit

Peter Spence / Telegraph   |   Thu, 30 Jun 2016 17:46:39

FidelityVoice: Retirees: Six Tips For Volatile Markets

When you are living off your investments in retirement, or nearing that point, a market drop, like the one from the recent Brexit vote, can be unnerving. It may feel like the stakes are higher than they were when you had years or decades before you would start to use ...
Fidelity Viewpoints Team, Fidelity / Forbes   |   Thu, 30 Jun 2016 17:44:00

Today's Headlines

Bloomberg: Carney Says BOE Summer Action Likely as Brexit Infects U.K. (video) Mark Carney said the Bank of England will probably have to loosen policy within months to deal with the fallout of the Brexit vote as he warned that there's only so much he can do to protect the ...
Between the Hedges   |   Thu, 30 Jun 2016 17:43:00

Tory race narrows Brexit divorce options

Candidates are all challenging the integrity of the single market's four freedoms
FT   |   Thu, 30 Jun 2016 17:41:42

US market expensive: Pro

Erik Ristuben, Russell Investments Chief Investment Strategist, thinks the market overreacted to the Brexit vote, and is following valuation; and Jim Tierney, AB CIO of U.S. Concentrated Growth, shares his market perspective on U.S. stocks versus overseas.
CNBC   |   Thu, 30 Jun 2016 17:41:00

S&P cuts rating on EU to 'AA' after Brexit

(Reuters) - Standard & Poor's Global Ratings said on Thursday it had cut its long-term credit rating on the European Union to 'AA' from 'AA+' after the United Kingdom voted to leave the bloc. "After the decision by the UK electorate to leave the EU...we have reassessed our opinion of ...
Business Insider   |   Thu, 30 Jun 2016 17:35:49

What Currency to Buy After Brexit? Try the Brazilian Real

In the wake of Brexit, investors expected the traditional safe-haven currencies, the yen and Swiss franc, to soar. But it was the Brazilian real that really took off. An unlikely safe-haven, the real has risen by 4% against the U.S. dollar since last Thursday, the day the British voted to ...
Jon Sindreu / MoneyBeat   |   Thu, 30 Jun 2016 17:35:31

Brexit Signaled 'Buy!' for These U.S. Investors

Even as major indexes were diving in the wake of Brexit, some individual investors-from retirees to college students to small-business owners-used the vote as a chance to buy.
WSJ   |   Thu, 30 Jun 2016 17:31:23

Brexit live - Tories vie for top spot as Carney warns

Latest developments from fallout of UK vote to leave EU
FT   |   Thu, 30 Jun 2016 17:31:04

Johnny Depp Basquiats Sell for $11.5M, Brexit Woes Don't Scare All Dealers

Two paintings from the actor's collection sold at Christie's on Wednesday.
Alanna Martinez / NY Observer   |   Thu, 30 Jun 2016 17:31:01

Businesses Are Still Not Prepared For Brexit: Many Are In Denial That UK Will Leave EU

Many businesses have their head in the sand following Brexit. Shutterstock Some businesses I have been speaking to recently appear to under the impression that Brexit will never happen. Or, at least, if it does, it will be a similar arrangement in all but name. They may come into a ...
Jonathan Webb, Contributor / Forbes   |   Thu, 30 Jun 2016 17:31:00

S&P cuts rating on EU to 'AA' after Brexit

June 30 (Reuters) - Standard & Poor's Global Ratings said on Thursday it had cut its long-term credit rating on the European Union to 'AA' from 'AA+' after the United Kingdom voted to leave the bloc.
Reuters   |   Thu, 30 Jun 2016 17:30:00

Fed's Kaplan says Brexit to reduce growth: Bloomberg News

SAN FRANCISCO, June 30 (Reuters) - Britain's vote to exit the European Union last week will tend to reduce economic growth, but its political and economic effects will take "a significant amount of...
Reuters   |   Thu, 30 Jun 2016 17:29:03

US-EU trade 'unaffected' by Brexit

PARIS - Britain's vote to quit the EU won't affect negotiations to hammer out a EU-US trade deal aimed at creating the world's largest free trade and investment area, the EU's top trade official said Thursday.
Bangkok Post   |   Thu, 30 Jun 2016 17:27:00

The Italian Job

Brexit Fallout - The Italian Job by Danielle DiMartino Booth, Money Strong "You're only supposed to blow the bloody doors off!" That one line, spoken on the big screen by Michael Caine was crowned, according to a 2003 Daily Telegraph [...] The post The Italian Job appeared first on ValueWalk ...
Value Walk   |   Thu, 30 Jun 2016 17:26:27

S&P Downgrades European Union From AA+ To AA

They must have heard about George Soros urging the EU to borrow multi-billions:) The S&P statement: Long-Term Rating On Supranational Institution The European Union Lowered To 'AA' On Brexit Referendum; Outlook Stable The European Union (EU) supranational borrows on the capital markets to lend to member states and certain other ...
Robert Wenzel / Economic Policy Journal   |   Thu, 30 Jun 2016 17:23:00

Nomura: Expect China's Economy To Slow Even Further In H2

Nomura: Expect China's Economy To Slow In H2 While Brexit has been grabbing headlines across the world for much of the past two weeks, economic developments in China have gone relatively unnoticed. Chinese policymakers continue to drive the country's economic [...] The post Nomura: Expect China's Economy To Slow Even ...
Rupert Hargreaves / Value Walk   |   Thu, 30 Jun 2016 17:22:21

Trump Jumps To Four Point Lead Over Clinton In First Post-Brexit Poll

Earlier this week we noted that Hillary's lead over Donald Trump in the polls was either 1% or 12%, depending on which poll you believed. We also pointed out that the polls were taken prior to the UK referendum, and as both candidates held different views on the matter, we ...
Zero Hedge   |   Thu, 30 Jun 2016 17:20:40

Brexit's 'Yield': Negative $1 Trillion

Seeking Alpha   |   Thu, 30 Jun 2016 17:19:27

Entrepreneurs Didn't Vote For Brexit In UK EU Referendum But They'll Deal With It

Entrepreneurs may not have voted for the UK to leave the EU but they'll deal with the ramifications of Brexit the same way they deal with any other unforeseen hurdle.
Freddie Dawson, Contributor / Forbes   |   Thu, 30 Jun 2016 17:19:00

BRIEF-S&P lowers long-term rating on supranational institution the European Union to 'AA' on Brexit referendum

* Long-Term rating on supranational institution the European Union lowered to 'AA' on Brexit referendum; outlook stable
Reuters   |   Thu, 30 Jun 2016 17:18:00

After Brexit, EU Leaders Must Wake Up and Smell the Rage

Neil Hall / Reuters Liz PeekJune 30, 2016 What a difference a week makes. As various parties in Britain campaigned to leave the EU, the media derided their quest as the byproduct of xenophobia and bigotry. Voters preferring "Brexit," we were told, were uneducated, older and mostly white English people ...
arader / Fiscal Times   |   Thu, 30 Jun 2016 17:14:31

Brexit forces shift in strategy, says Box CEO

Tech companies will grin and bear the consequences of a Brexit as they are forced to serve an increasingly fragmented set of global customers.
CNBC   |   Thu, 30 Jun 2016 17:11:00

Britain must repair ties with Europe after Brexit, says Barclays chairman

John McFarlane says companies should not lose sight of Europe as a market as prime minister warns business leaders against becoming 'fixated' on EU Follow the business live blog here Britain needs to retain its ties with Europe after Brexit while building a new international model for financial services, the ...
Phillip Inman Economics correspondent / Guardian   |   Thu, 30 Jun 2016 17:09:21

US STOCKS-Wall St rallies after BoE governor hints at stimulus

June 30- Wall Street rose in afternoon trading on Thursday after Bank of England Governor Mark Carney raised the prospect of an interest rate cut following Britain's vote to leave the European Union. Carney's comments added more steam to a recovery rally after a two-day post-Brexit carnage that erased about ...
CNBC   |   Thu, 30 Jun 2016 17:09:00

S&P Downgrades European Union From AA+ To AA - Full Text

First S&P downgraded the UK, now it's the EU's turn. Long-Term Rating On Supranational Institution The European Union Lowered To 'AA' On Brexit Referendum; Outlook Stable The European Union (EU) supranational borrows on the capital markets to lend to member states and certain other governments on a back-to-back basis. The ...
Tyler Durden / Zero Hedge   |   Thu, 30 Jun 2016 17:06:58

LIVE: White House on Brexit

White House Spokesperson Josh Earnest makes remarks to reporters at the daily White House press briefing.
MSNBC   |   Thu, 30 Jun 2016 17:05:38

UK must negotiate Brexit before Article 50 - Conservative Gove says

LONDON, June 30 (Reuters) - Britain should negotiate the preliminary terms of its exit from the European Union before triggering the formal Article 50 exit process, said Conservative lawmaker Michael...
Reuters   |   Thu, 30 Jun 2016 17:03:18

Insurers want a voice in Brexit talks

Industry concerned banking will dominate negotiations
FT   |   Thu, 30 Jun 2016 17:02:34

Bank of England flags up summer stimulus to counter Brexit effects

The Bank of England's Governor Mark Carney has said more stimulus will probably been needed for the UK economy over the summer to counter the effects...
euronews   |   Thu, 30 Jun 2016 16:59:57

LPC: U.S. leveraged loan market strong post Brexit vote

NEW YORK, June 30 (Reuters) - Outside of a pair of opportunistic leveraged loan deals that were shelved following the announcement that the United Kingdom had voted to pull out of the European Union,...
Reuters   |   Thu, 30 Jun 2016 16:58:58

Promising Canadian IPO cancelled amid Brexit turmoil

Mortgage lender MCAP filed for a $275-million IPO in May
TIM KILADZE / Globe Investor Streetwise   |   Thu, 30 Jun 2016 16:57:49

Deutsche Bank lags as European shares extend post-Brexit bounce

*Britain's FTSE ends June on 2016 high. MILAN, June 30- European shares rose for a third straight session on Thursday, with expectations of central bank stimulus helping ease jitters over Britain's vote last week to exit the European Union. "Investors are expecting more central bank stimulus and this explains why ...
CNBC   |   Thu, 30 Jun 2016 16:57:00

Why Brexit is great news for U.S. homebuyers

The average rate of a 30-year fixed mortgage dropped to 3.48% -- the lowest level since May 2013, according to Freddie Mac.
CNN   |   Thu, 30 Jun 2016 16:56:50

It's the end of the world as we know it ... and the FTSE100 feels fine, by Scott Sumner

As I write this, Britain's FTSE100 stock index is soaring to its highest levels of the year. Admittedly, the domestic indices aren't doing that well, but they are also recovering. So what about all the gloom and doom associated with Brexit? It's hard to know for sure, but here's one ...
EconLog   |   Thu, 30 Jun 2016 16:56:28

U.K. Stock Index Above Pre-Brexit Vote Level

Britain's main stock market is back above where it was before the vote to leave the European Union plunged the country into turmoil.
U.S. News   |   Thu, 30 Jun 2016 16:56:17

Milan bourse closes 1.57% up (2)

Milan, June 30 - The Milan bourse closed 1.57% up Thursday with the FTSE-MIB rising to 16,197 points as banking stocks rallied again, recovering from Brexit turmoil and buoyed by a reported EU OK to a 150-billion-euro public guarantee. UniCredit gained 2.2% after the appointment of its former invest
Gazzetta Del Sud   |   Thu, 30 Jun 2016 16:55:00

Brexit - Europe plots a bank heist

London-based companies may need to move chunks of their business to the continent - but which city?
FT   |   Thu, 30 Jun 2016 16:54:52

Republicans Push for Bilateral Trade Agreement With the U.K.

The Brexit has prompted the first move by congressional Republicans to press for a bilateral trade agreement with the U.K., a subtle rebuke of President Barack Obama, who said before the vote that the U.K. would move to the "back of the queue" for a trade deal.
WSJ Washington Wire   |   Thu, 30 Jun 2016 16:52:47

Do The Charts Agree With George Soros On Brexit?

Current Rally Impressive, But... Stocks have staged an impressive rally off the recent Brexit low, which may turn into a push to higher highs. However, as noted on Twitter, the S&P 500's chart currently contains two lower highs, and a recently printed new multi-month low. The chart may very well ...
admin / Short Takes   |   Thu, 30 Jun 2016 16:51:43

Brexit backers took 'an American-style...

U.S. ad-makers told Brexit backers, "Facts don't work."When we talk about exporting American values around the world, this really isn't what we're referring to.
Steve Benen / MSNBC   |   Thu, 30 Jun 2016 16:50:51

Brexit has thrown the UK's two major parties into civil war

In the past two days, both major political parties in the UK have fallen into complete and total chaos. You can blame Brexit. On Tuesday, members of Parliament for the center-left Labour Party held a vote of no-confidence against their party leader, Jeremy Corbyn. The vote passed by an overwhelming ...
Zack Beauchamp / Vox   |   Thu, 30 Jun 2016 16:50:02

Google's Schmidt says Brexit vote unlikely to shift investment

PARIS (Reuters) - Google boss Eric Schmidt said on Thursday that Britain's referendum vote to leave the European Union was unlikely to lead to a shift in the U.S. tech giant's business activities. "I think it unlikely that Google would change our allocation based on this," Schmidt told a Paris ...
Business Insider   |   Thu, 30 Jun 2016 16:46:03

How Will Brexit Affect EU Sanctions Against Russia?

How Will Brexit Affect EU Sanctions Against Russia? by Frank Holmes Brexit has dominated world headlines for the last couple of weeks, and with good reason: The U.K.'s historic referendum has already roiled markets around the globe; raised serious questions [...] The post How Will Brexit Affect EU Sanctions Against ...
Frank Holmes / Value Walk   |   Thu, 30 Jun 2016 16:45:17

The U.K.'s Unpalatable Brexit Choice

Britain faces a choice between a model of Brexit that aims to retain as far as possible the current benefits of EU membership or one in which it largely reverts to trading with the EU on WTO terms, Simon Nixon writes.
WSJ   |   Thu, 30 Jun 2016 16:37:59

Spread closes on 138.6

Rome, June 30 - The spread between Italian and German 10-year bonds, a gauge of Italy's borrowing costs and investor confidence, closed on 138.6 points compared to 150 at Wednesday's close as Brexit aftershocks continued to wane Thursday. The yield was 1.254%.
Gazzetta Del Sud   |   Thu, 30 Jun 2016 16:37:00

UPDATE 1-Bank of England's Carney sees need for summer stimulus after Brexit shock

* Carney says won't bow to critics in Westminster (Updates with market reaction)
Reuters   |   Thu, 30 Jun 2016 16:35:49

Europe screaming buy: Shark Tank's O'Leary

Kevin O'Leary, O'Shares Chairman and O'Leary Funds co-founder, shares his Brexit trade. "Yes, I am in love with Europe, but not European banks," says O'Leary.
CNBC   |   Thu, 30 Jun 2016 16:35:00

Haven sectors are having a good crisis

Shares in mining, pharma and consumer companies rise after Brexit vote
FT   |   Thu, 30 Jun 2016 16:32:04

Brexit, Reformation edition

In 1532 Henry VIII effected a series of acts of parliament to formalise his kingdom's breakaway from Rome. As Rupert Gavin commented in the FT last week what happened next ended up defining the Britain of today: Back then, after a period of near bankruptcy, constant war and disruption, the ...
Izabella Kaminska / FT Alphaville   |   Thu, 30 Jun 2016 16:31:38

Gatwick tops 40m passengers for first time

Terminal operator predicts continued growth in 2016 despite Brexit
FT   |   Thu, 30 Jun 2016 16:30:38

The Waiting Game After the Brexit Vote

The result of the U.K. referendum has been known for almost a week. The market's snap verdict is in. But investors face a frustrating wait to find out what the economic data shows.
Richard Barley / MoneyBeat   |   Thu, 30 Jun 2016 16:30:11

Stop Dismissing Donald Trump, Brexit Supporters As Stupid or Racist

It's unproductive to dismiss Donald Trump supporters and Brexit voters as 'stupid' or 'racist.'
Jean Card / U.S. News   |   Thu, 30 Jun 2016 16:30:00

Savoring the Brexit Freakout

( Steven Hayward ) The collective freakout by the elites finds no better expression than in the indignation of CNN's execrable Christiane Amanpour, who gets smacked back quite effectively by the impressive Daniel Hannan:
Steven Hayward / Power Line   |   Thu, 30 Jun 2016 16:29:04

London stocks hit August highs as Bank of England hints at summer rate cut

London's FTSE100 staged a dramatic recovery late in the Thursday session to close higher along with small-cap stocks after the Bank of England said it might cut historically low rates even further in the wake of Britain's surprise Brexit referendum result. The blue-chip ticker ended up 2.3% at 6,504 - ...
Proactive Investors   |   Thu, 30 Jun 2016 16:24:00

J.P. Morgan's Brexit Ace Up Its Sleeve: Tony Blair

When it comes to U.S.-U.K. relations, J.P. Morgan Chase has its own special relationship
Emily Glazer / MoneyBeat   |   Thu, 30 Jun 2016 16:18:56

Is Brexit market panic already over? Nope!

Investors seem to be over the Brexit fears that gripped the market just after the U.K. voted to leave the European Union. But experts say that the volatility isn't over yet.
CNN   |   Thu, 30 Jun 2016 16:17:34

Four Ways To Sabotage The Brexit Verdict

Four Ways To Sabotage The Brexit Verdict by Jeff Nielson, Sprott Money The Brexit vote will be rigged. Regular readers saw that prediction in a recent commentary . The reasoning behind the prediction was straightforward. The oligarch puppet-masters who control [...] The post Four Ways To Sabotage The Brexit Verdict ...
Sprott Money / Value Walk   |   Thu, 30 Jun 2016 16:17:33

Conservative leadership candidate Gove says next PM needs to back Brexit

LONDON, June 30 (Reuters) - Britain's next prime minister should be someone who supports the country's decision to leave the European Union, Michael Gove, a prominent 'Out' campaigner who earlier...
Reuters   |   Thu, 30 Jun 2016 16:16:02

WSJ City's Brexit Briefing: Carney Sends Markets on Wild Ride, Boris Bows Out

Good afternoon from London. Here's essential reading on today's Brexit developments. MUST READS FROM WSJ CITY Bank of England Governor Mark Carney sent markets on a wild ride towards the end of Thursday after saying he is eying a summer rate cut and other easing measures in coming months. He ...
Phillipa Leighton-Jones / MoneyBeat   |   Thu, 30 Jun 2016 16:12:08

IMF Urges Policy Makers to Prepare Brexit Contingency Plans

Brexit-fueled uncertainty is the biggest risk to the global economy as financial market tremors from the U.K.'s decision to exit the EU could further shake the world, the International Monetary Fund warned.
WSJ   |   Thu, 30 Jun 2016 16:10:08

Recruiters: panic need not apply

Investors in job agencies have overreacted to Brexit
FT   |   Thu, 30 Jun 2016 16:09:23

Airline Ryanair Jabs At United Kingdom Following Brexit

While the world continues to grapple with the ramifications of Brexit, Ireland's budget airline Ryanair is having a snicker at the United Kingdom's expense. Early Thursday, Ryanair.com featured a shoddily Photoshopped image of British politician Boris Johnson riding a bicycle with the words "BYE BYE EUROPE!" next to him. The ...
Fernando Alfonso III, Contributor / Forbes   |   Thu, 30 Jun 2016 16:04:00

Euro Crashes As ECB Announces Moar QE

Well that didn't take long... *ECB SAID TO WEIGH LOOSER QE RULES AS BREXIT DEPLETES ASSET POOL *ECB OPTIONS SAID TO INCLUDE MOVING AWAY FROM QE CAPITAL KEY *ECB SAID TO BE CONCERNED ABOUT SHRINKING POOL OF ELIGIBLE DEBT Just as we warned.
Tyler Durden / Zero Hedge   |   Thu, 30 Jun 2016 16:02:26

Lost passports: a guide to the Brexit fallout for the City of London

If the UK cannot secure a 'Norway' deal and stay within the internal market, the UK will lose passporting rights for financial services and access to euro clearing and settlement, both of which make London attractive as a financial centre. A substantial part of the UK's wholesale banking and trading ...
Dirk Schoenmaker / Bruegel   |   Thu, 30 Jun 2016 15:57:34

Markets shift after Carney speech

The pound falls and UK shares rise after Bank of England governor Mark Carney hints at fresh stimulus measures after the Brexit vote.
BBC   |   Thu, 30 Jun 2016 15:56:58

trio works v.well-Elysee sources (2)

Paris, June 30 - The trio formed by german Chancellor Angela Merkel, French President Francois Hollande and Italian Premier Matteo Renzi "works very well, I should say extremely well, and together they are working to respond to Brexit," a source at Hollande's office said Thursday. "They seem a very
Gazzetta Del Sud   |   Thu, 30 Jun 2016 15:56:00

Is Brexit All Bad For Deutsche Bank?

Less than a week after British voters decided to leave the European Union, the International Monetary Fund issued a report Wednesday stating that Germany's largest bank may also be the largest contributor to systemic risks among the largest lenders globally. "Deutsche Bank appears to be the most important net contributor ...
Ely Razin, Contributor / Forbes   |   Thu, 30 Jun 2016 15:54:00

Brexit: History Says Stocks Recover Quickly From Market Events

Key Takeaway: While the results of the UK vote and advisory referendum have prompted swift reaction in the financial markets, the political path forward is uncertain. Further, there should be... The post Brexit: History Says Stocks Recover Quickly From Market Events appeared first on See It Market .
Willie Delwiche / See It Market   |   Thu, 30 Jun 2016 15:53:35

BBC presenter subjected to racism and told to 'go home' days after Brexit vote

Nicola Harley / Telegraph   |   Thu, 30 Jun 2016 15:49:09

Italy rescues bank after EU plea snubbed

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

Keep Calm And Carry On: Globally Investing After The Brexit Vote

The British referendum vote, frequently referred to as Brexit, held late last week to decide whether or not the U.K. should remain tethered to the EU will certainly be remembered as a historic moment. However, the story of Britain's exit from the EU is far from over. In fact, the ...
Jim Cahn, Contributor / Forbes   |   Thu, 30 Jun 2016 15:48:00

Bank of England's Carney sees need for summer stimulus after Brexit shock

'In my view ... some monetary policy easing will likely be required over the summer,' he said in a speech on Thursday
William Schomberg and David Milliken / Globe and Mail   |   Thu, 30 Jun 2016 15:44:58

Treachery, trust and the Tories: how Michael Gove sank Boris Johnson

From heir apparent to meek exit in one chaotic morning. After a week of post-Brexit political turmoil, former London mayor Boris Johnson's decision not to seek the Tory leadership is arguably the biggest surprise of all. Having led the Leave campaign in the EU referendum, the assumption was that Johnson ...
Tom Quinn, Senior Lecturer, Department of Government, University of Essex / The Conversation   |   Thu, 30 Jun 2016 15:43:21

The town that rebelled against its pro-EU employers

Swindon's high-tech firms urged their workers to vote remain. So why did a majority of residents vote for Brexit? In the Old Town high street, beneath a union jack, the wine merchant's blackboard lures customers with the promise of 150 new gins. Nearby, the Wood Street food hall sells only ...
Sandra Laville / Guardian   |   Thu, 30 Jun 2016 15:43:16

Lehman Was NOT A Moment

As markets bounce back from the lows on Monday I think it is worthwhile remembering that the so-called "Lehman Moment" never existed and it might be far too early to signal the 'all clear' on Brexit (and in my official capacity I was a bull until well into yesterday's rally). ...
Peter Tchir, Contributor / Forbes   |   Thu, 30 Jun 2016 15:43:00

Russia May Be Brexit's Biggest Winner

Brexit has dominated world headlines for the last couple of weeks, and with good reason: The U.K.'s historic referendum has already roiled markets around the globe; raised serious questions about immigration, trade and diplomacy; cast a harsh spotlight on the EU's avalanche of rules and regulations; and divided member states ...
Frank Holmes, Contributor / Forbes   |   Thu, 30 Jun 2016 15:42:00

Brexit aftershocks hit Spain

Did Brexit have anything to do with the disappoiting resuts for Podemos in Sunday's Spanish elections? Podemos leader Pablo Iglesias. Paimages/Francisco Seco. All rights reserved.Huge Brexit shockwaves hit the coasts of Spain early Friday morning, when the smell of powder's smoke and the bitter taste of cheap bubbly were slowly ...
Francesc Badia i Dalmases / Open Democracy   |   Thu, 30 Jun 2016 15:38:06

Markets wrong on Brexit: BlackRock

Markets appear to be betting a Brexit will either be benign or will not happen, BlackRock's Jeff Rosenberg said.
CNBC   |   Thu, 30 Jun 2016 15:38:00

ANALYSIS. Article 50 Of The Lisbon Treaty: The Rules For Brexit

EUobserver. Belgium.
EUobserver. Belgium. / World Affairs   |   Thu, 30 Jun 2016 15:37:42

Mortgage Rates: A New Low For the Year. Thanks, Brexit!

Mortgage rates hit a new low for the year, falling to 3.48 percent after Britain voted for a divorce from Europe. Last week, the average 30-year fixed-rate loan was 3.56 percent, according to Freddie Mac. A year ago it was above 4 percent. We're this close to the record low ...
Lorraine Woellert, Contributor / Forbes   |   Thu, 30 Jun 2016 15:37:00

Brexit Is No Bust for U.S. Manufacturing

An improving U.S. manufacturing sector is expected to stay on track regardless of Brexit.
WSJ   |   Thu, 30 Jun 2016 15:36:11

LPC: US syndicated lending surged before Brexit, election volatility

NEW YORK, June 30 (Reuters) - Budding optimism about the U.S. economy, rising oil prices and a brief lull in volatility spurred companies to lock in low interest rates in the second quarter, driving...
Reuters   |   Thu, 30 Jun 2016 15:35:00

After Brexit, which way for fashion?

How luxury brands will navigate the post-referendum landscape
FT   |   Thu, 30 Jun 2016 15:30:10

Trump offers the kind of simplistic fixes that 'Brexit' supporters sought

I was on a ferry making passage to Athens from a remote island in the Aegean when I learned that a 52% majority of British voters had chosen to pull their country out of the European Union. It was ironic to get this news in Greece because, just a year ...
David Horsey / LA Times   |   Thu, 30 Jun 2016 15:30:00

Invesco updates on business post-Brexit, will quicken buybacks

Seeking Alpha / Seeking Alpha   |   Thu, 30 Jun 2016 15:29:01

BoE's Carney hints at summer rate cut

In a speech on the economic and financial implications of the Brexit vote, BoE Governor Mark Carney said he favors a rate cut "over the summer", addin
Ani Salama / FX Street   |   Thu, 30 Jun 2016 15:28:07

UPDATE 1-IMF says 'Brexit' uncertainty to dampen near-term growth outlook

WASHINGTON, June 30 (Reuters) - Uncertainty over Britain's looming departure from the European Union will dampen near-term economic growth for the UK and the rest of Europe and affect output...
Reuters   |   Thu, 30 Jun 2016 15:28:05

CARNEY: There are limits to what the Bank of England can do

Bank of England governor Mark Carney says that the central bank will likely have to engage in a further programme of quantitative easing over the summer, as a response to the UK's vote to leave the European Union last week. But, more importantly, he warned that there are "limits" to ...
Will Martin / Business Insider   |   Thu, 30 Jun 2016 15:26:35

Making Sense of Brexit

This article was originally published at Stratfor.com. Editor's Note:The Global Affairs column is curated by Stratfor's editorial board, a diverse group of thinkers whose expertise inspires rigorous and innovative thought in our analyses. Though their opinions are their own, they inform and sometimes even challenge our beliefs. We welcome that ...
Stratfor, Contributor / Forbes   |   Thu, 30 Jun 2016 15:26:00

Poll Shows Brexit Vote Was About British Sovereignty, Not Anti-Immigration

Britain's vote to leave the EU was a demand for self-determination and rejection of big government.
Peter Roff / U.S. News   |   Thu, 30 Jun 2016 15:25:00

New World Order Statist Soros Speaking to the European Parliament Calls for Multi-Billions in EU 'Surge Funding'

One world order super-statist George Soros By Robert Wenzel The billionaire statist Geore Soros appeared today before the European Parliament and delivered a speech discussing what the EU should do in the wake of Brexit. If you weren't sure Soros was an all out one world order statist before this ...
Robert Wenzel / Economic Policy Journal   |   Thu, 30 Jun 2016 15:21:00

Negative-yield debt up $1.3tn to $11.7tn

Investors expect central banks to boost stimulus measures in the wake of UK's Brexit vote
FT   |   Thu, 30 Jun 2016 15:20:58

Tinder, But for Brexit

Remember that saying, "there's an app for that," from an Apple commercial in 2009? Several years later, the slogan's novelty has worn off-hundreds of apps are added to stores each day-and people expect to find something for, well, everything. So it shouldn't be too surprising that someone went and made ...
Marina Koren / The Atlantic   |   Thu, 30 Jun 2016 15:20:06

Interest rate cut likely after Brexit, says Mark Carney

Bank of England governor says rate will probably have to come down to cushion blow to UK economy The Bank of England is likely to have to cut interest rates over coming months to cushion the blow to the economy from the Brexit vote, its governor, Mark Carney, has said. ...
Katie Allen / Guardian   |   Thu, 30 Jun 2016 15:14:56

Bank of England could cut interest rates next month

Interest rates could be cut next month in response to Brexit, according to Bank of England governor Mark Carney.
BBC   |   Thu, 30 Jun 2016 15:13:08

UK may need more stimulus by summer: BoE

Bank of England governor Mark Carney forecast a "material slowing" in economic growth as a result of last week's shock referendum result.
CNBC   |   Thu, 30 Jun 2016 15:13:00

Buy AmEx After Brexit Beatdown

Seeking Alpha   |   Thu, 30 Jun 2016 15:12:39

Brexit's Known Unknowns

Heard on the Street podcast: Brexit's prolonged uncertainty and new competition for Nike
Miriam Gottfried / MoneyBeat   |   Thu, 30 Jun 2016 15:11:52

Soros: Brexit 'Unleashed' A Crisis In Financial Markets (Bloomberg )

"In today's "Morning Must Read," Bloomberg's Tom Keene highlights...
Distressed Volatility   |   Thu, 30 Jun 2016 15:11:00

EUR/CHF ends 3-day recovery and drops toward 1.0800

EUR/CHF dropped sharply after the Brexit referendum results last week and since Monday it moved with a modest upside bias, until today that broke...
Matías Salord / FX Street   |   Thu, 30 Jun 2016 15:10:20

Thursday Morning News Roundup

Here's the news roundup for this morning: BoJo has taken himself out of the race to be Britain's next prime minister. I guess he didn't feel like trying to clean up the mess he made by winning the Brexit vote. Donald Trump apparently had a special console in his bedroom ...
Kevin Drum   |   Thu, 30 Jun 2016 15:09:55

Bank of England's Carney sees need for summer stimulus after Brexit shock

By William Schomberg and David Milliken LONDON, (Reuters) - Bank of England Governor Mark Carney said the central bank would probably need to pump more stimulus into Britain's economy over the summer after the shock of last week's decision by voters to leave the European Union. "In my view, and ...
Business Insider   |   Thu, 30 Jun 2016 15:09:33

Google unlikely to have to move jobs after Brexit

Google is unlikely to change any of its operations in Europe as a result of Britain's decision to leave the EU, said Eric Schmidt.
CNBC   |   Thu, 30 Jun 2016 15:08:00

Gold set for best month since February

Gold steadied on Thursday as markets continued their post-Brexit recovery, although the precious metal is still on track to record its biggest monthly rise since February. The metal had railed earlier in the week following the uncertainty created by Britain's shock decision to leave the EU, which boosted its monthly ...
Proactive Investors   |   Thu, 30 Jun 2016 15:06:00

NYSE President Tom Farley: New York Stock Exchange Seen As Safe Haven

In an interview on FOX Business Network's (FBN) Mornings with Maria (weekdays, 6a-9a/ET), New York Stock Exchange President Tom Farley discussed the Brexit vote last week. Farley said, the next morning there was "a lot of anxiety and angst." When [...] The post NYSE President Tom Farley: New York Stock ...
Value Walk   |   Thu, 30 Jun 2016 15:05:59

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

Ashley Kirk / Telegraph   |   Thu, 30 Jun 2016 15:05:25

Mark Carney Speaks, Says BOE Will Likely Ease Monetary Policy Over The Summer - Live Webcast

Bank of England Gov. Mark Carney is delivering a speech on Thursday, a week after Britons voted to leave the European Union, the central bank said Wednesday. Carney stepped in to soothe financial markets Friday in the immediate aftermath of the shock Brexit vote, pledging the BOE would backstop the ...
Tyler Durden / Zero Hedge   |   Thu, 30 Jun 2016 15:03:34

Hedge Fund Assets Top $3 Trillion In May, But May Slip On Brexit

Hedge funds finally crossed over the $3 trillion mark for the first time this year in May, but may not be able to hang onto that level following Brexit turmoil. That's according to the latest report from eVestment , which found that total industry assets now sit at $3.015 trillion ...
Teresa Rivas / Focus on Funds   |   Thu, 30 Jun 2016 15:03:22

Reactions To Brexit

Britain Backs Brexit After a historic referendum, the British people decided to exit the EU with a vote of 52-48%. Here's how different politicians are reacting to the result--and who's suggesting the same for their own country. 2016 Getty Images British Prime Minister David Cameron "The British people have voted ...
London Business School Review, Contributor / Forbes   |   Thu, 30 Jun 2016 15:03:00

Boris Johnson Decides Britain Is Way Too Screwed Up For Him To Lead Right Now

Boris likes his Brexit fallout like he likes his hair: Just leave it be and walk away.
Thornton McEnery / Dealbreaker   |   Thu, 30 Jun 2016 15:01:30

An Historical Perspective on Brexit

Capitalist Internationalism, Reactionary Nationalism, and Socialist Internationalism Alejandro Reuss The June referendum vote in the United Kingdom, narrowly in favor of departure from the European Union (or "Brexit," a portmanteau of "Britain" and "exit"), has thrown the future of the U.K. and its constituent nations into turmoil. The votes in ...
Alejandro Reuss / TripleCrisis   |   Thu, 30 Jun 2016 15:00:03

Will Brexit Derail U.S. GDP?

Next month's "advance" GDP report for the US in the second quarter is widely projected to show that economic activity will rebound from Q1's sluggish 0.8% gain (which is expected to be revised up to 1.0% in today's revision, according to Econoday.com's consensus forecast). But a higher level of... Please ...
EconMatters / EconMatters Global   |   Thu, 30 Jun 2016 15:00:00

HSBC won't be moving its HQ away from London post-Brexit

HSBC has confirmed for the first time since last week's referendum that the UK vote to quit the European Union will not lead to the bank moving its headquarters from London.
Here Is The City   |   Thu, 30 Jun 2016 14:59:56

Brexit Probably Won't Affect Taxes As Much As Everyone Fears

It is hard to overstate the magnitude of the shock wave emanating from the United Kingdom in the wake of voters' decision to exit the EU. The surprising victory of the Leave campaign will almost certainly prompt introspection on the part of EU leaders and force the next U.K. prime ...
Jeremy Scott, Contributor / Forbes   |   Thu, 30 Jun 2016 14:59:00

Brexit, the Pound and Stock Prices: A Volatile Mix

Sterling is the swing factor for investors. It may yet fall further to help the U.K. economy to adjust.
WSJ   |   Thu, 30 Jun 2016 14:58:54

IMF Warns Brexit Means "Even Lower Growth" For UK, EU

The IMF appears set on making sure the exuberance in stocks is not mistaken for any reflection on optimism. Having warned of the systemic fragility due to Deutsche Bank, Madame Lagarde's pre-Brexit fearmongering has now been confirmed post-Brexit as IMF spokesman Gerry Rice warns the near-term risks from U.K. vote ...
Tyler Durden / Zero Hedge   |   Thu, 30 Jun 2016 14:57:05

IMF says Brexit uncertainty to dampen outlook

Uncertainty over Britain's looming departure from the EU will dampen near-term economic growth for the UK and the rest of Europe, the IMF said.
CNBC   |   Thu, 30 Jun 2016 14:54:00

Don't panic, here's how Brexit can make Britain can be a great trading nation

David Frost / Telegraph   |   Thu, 30 Jun 2016 14:53:19

GBP/USD inter-markets: 'Brexit' setting the tone

The Sterling has managed to leave behind post-Brexit lows in the 1.3120 area - levels last seen over 30 years ago - and push GBP/USD to recent tops ab
Pablo Piovano / FX Street   |   Thu, 30 Jun 2016 14:52:34

UK welcomes watered down final IORP II amid Brexit uncertainty

The final version of the controversial European pensions legislation has emerged after years of tough negotiations but it may never end up coming to the UK following Brexit.
Stephanie Baxter and Kristian Brunt-Seymour / Professional Pensions   |   Thu, 30 Jun 2016 14:51:00

Capital markets are back in action after Brexit vote as BAT and Lloyds tap investors

Tim Wallace / Telegraph   |   Thu, 30 Jun 2016 14:47:05

A hedge fund manager with ties to the Royal Family made £110 million betting against the pound

James Hanbury, a hedge fund manager with links to the Royal Family made £110 million ($148 million) betting against the pound - which plunged in the wake of the UK vote to leave the EU last week, the Daily Mail reports. The paper says that despite commissioning a private poll ...
Matthew Nitch Smith / Business Insider   |   Thu, 30 Jun 2016 14:46:37

Thanks, Brexit! Why UK vote is likely to boost US home sales

The US residential real estate market may seem far removed from the UK, but there is no doubt that the Brexit vote will have an impact, says Jonathan Smoke, the chief economist at realtor.com.
CNBC   |   Thu, 30 Jun 2016 14:45:00

Mark Carney speaks on what Bank of England plans to do following Brexit vote

Bank of England governor Mark Carney will speak at 11 a.m. ET in London about the central bank's plans in the wake of last week's vote in which a majority of Britons said they wanted to exit the European Union.
The Associated Press / CBC   |   Thu, 30 Jun 2016 14:42:43

IMF says 'Brexit' uncertainty to dampen growth outlook

WASHINGTON, June 30 (Reuters) - Uncertainty over Britain's looming departure from the European Union will dampen near-term economic growth for the UK and the rest of Europe and will also affect...
Reuters   |   Thu, 30 Jun 2016 14:42:38

Look at the 'Brexit Baskets' for the Real Impact of the Vote on U.K. Stocks

The FTSE 100 is back to levels reached before the EU referendum, but stocks sensitive to British investment have been hammered.
Mike Bird / MoneyBeat   |   Thu, 30 Jun 2016 14:42:11

Bank Stocks Will Suffer After Brexit Vote

The Brexit is sending ripples across the pond and affecting financial stocks.
John Divine / U.S. News   |   Thu, 30 Jun 2016 14:39:51

Brexit, Emerging Markets, and Venezuela in the News

Three things to think about today. If you haven't already done so, subscribe now to my colleague Brad Setser's blog,...
Robert Kahn / Robert Kahn   |   Thu, 30 Jun 2016 14:35:58

EU must share some blame for Brexit

The European Commission leaders epitomise image of a technocratic elite, writes Lubomir Zaoralek
FT   |   Thu, 30 Jun 2016 14:35:03

'Brexit' Proves Safe Havens Not So Safe After All

The world's "safe havens" have been the cause of massive economic and financial market upheaval since 2008.
Kenneth Rapoza, Contributor / Forbes   |   Thu, 30 Jun 2016 14:35:00

Daily Digest 6/30 - The Shadow Doctors, Is A New Banking Crisis Imminent?

The Recent Rise in Delinquency Rates on Bank Loans Is Shocking (Is a New Banking Crisis Imminent?) Federal election 2016: ACT candidates shy about 'truth pledge'? Brexit: EU leaders say UK cannot have 'à la carte' single market The Shadow Doctors Sovereign Debt – What Could Go Wrong? Big Oil ...
Chris Martenson   |   Thu, 30 Jun 2016 14:32:22

Nationalism Isn't Replacing Globalism

Leon Hadar Politics, Americas The two are combining to create a new political order. Much of the post-Brexit and primary election conventional wisdom seems to be stuck in a political narrative in which the Brexit vote and the rise of Trumpism in the United States are seen as symbols of ...
National Interest   |   Thu, 30 Jun 2016 14:32:00

GM Economist: No Brexit Impact to U.S. Auto Market Now; More UK Car Production Possible

It is too soon to measure the impact of the British vote to leave the EU on General Motors but the decision will likely not have much effect on the company in its home market, GM's chief economist tells Reuters. Mustafa Mohataram said the most immediate likely impact for U.S. ...
Robert Wenzel / Economic Policy Journal   |   Thu, 30 Jun 2016 14:31:00

Brelief Rally! More About Low Yields Than Britain

Brelief Rally! More About Low Yields Than Britain Markets rebound from Brexit losses as the need to generate returns trumps geopolitical Rally! More About Low Yields Than BritainBy Randall W. Forsyth Markets rebound from Brexit losses as the need to generate returns trumps geopolitical uncertainty.
Barrons   |   Thu, 30 Jun 2016 14:29:57

A Brexit Opportunity: First Commonwealth Financial

Seeking Alpha   |   Thu, 30 Jun 2016 14:29:56

UBS: Here's how to escape the pain of Brexit

In the aftermath of Britain's vote to leave the European Union, assets across the board took a pounding. Stocks plummeted, the pound crashed to its lowest level in more than 30 years, and an impending sense of doom gripped the globe. The worst of the market reaction now seems to ...
Will Martin / Business Insider   |   Thu, 30 Jun 2016 14:28:57

Stocks try to hold gains as post-Brexit rally cools off

U.S. stocks traded in a narrow range, amid oil losses, as a massive rally following the United Kingdom referendum slowed down.
CNBC   |   Thu, 30 Jun 2016 14:27:00

Today's Must-Reads For Business Owners: Obama As VC, Selling On Pinterest, A Brexit Boom?

News and insights for business owners from around the Web, including why Donald Trump and the Chamber of Commerce are fighting.
Loren Feldman, Forbes Staff / Forbes   |   Thu, 30 Jun 2016 14:26:00

China's JD.com says Brexit will be good for business

Ashley Armstrong / Telegraph   |   Thu, 30 Jun 2016 14:24:25

Retail 'Sanity Check' Shows Some Deals After Brexit Turmoil

While the market has largely moved past Brexit , investors are still trying to parse the long-term implications for individual companies' earnings. Citi's Paul Lejuez and his team are among those looking for stocks that look oversold following the volatility of last week's vote. Lejuez examined a number of softline ...
Teresa Rivas / Stocks To Watch   |   Thu, 30 Jun 2016 14:18:27

NOW WE'VE SEEN IT ALL: Analyst compares Brexit to a sheepdog voting itself out of the herding group

This might be the best piece of Brexit analysis yet. In a note to clients published Thursday, Bernstein analyst Michael Parker and team give a great analogy to explain how much sense the UK voting to leave the EU makes. Comparing the UK to sheepdogs, Parker and team argue that ...
Myles Udland / Money Game   |   Thu, 30 Jun 2016 14:17:22

EU downgraded by Standard & Poor's after Brexit vote

It is not only the UK sovereign which is under ratings pressure these days, as Standard & Poor's opted to downgrade the European Union over greater uncertainties to the bloc's cohesion following Britain's "Brexit" vote last Thursday. The long-term rating on the supranational European Union was cut to 'AA' from ...
Proactive Investors   |   Thu, 30 Jun 2016 14:15:00

These firms might move out of UK

CNBC highlights the companies that have already signaled what could lie ahead after he Brexit vote.
CNBC   |   Thu, 30 Jun 2016 14:14:00

Hollande's Empty Threat To Strip London Of Euro Trading And Clearing Post Brexit

It's always useful if a politician or President of a Republic restricts him or herself to threats which can actually be carried out. The usefulness of this is that it stops the rest of us laughing in their faces when they proclaim something which they have no power to bring ...
Tim Worstall, Contributor / Forbes   |   Thu, 30 Jun 2016 14:13:00

Amid Brexit chaos, the government pushes ahead with plans to privatise the Land Registry

wwwuppertal/Flickr, CC BY-NC It's a busy time in UK politics; the nation is still getting to grips with the fallout from Brexit, both major parties are facing bitter leadership contests, and the union is looking more fragile than ever. Yet amid this turmoil, MPs carry on with the business of ...
Nigel Hudson, Senior Lecturer in Law, Nottingham Trent University / The Conversation   |   Thu, 30 Jun 2016 14:12:02

Deutsche Bank: Migrants Helped Build UK Economy Since 2008

Leading up to the Brexit vote, there was an identifiable bifurcation in the UK economy, a Deutsche Bank report noted. In the vote's wake, the British pound will suffer as will the geographic region that was the UK economic leader, London. [...] The post Deutsche Bank: Migrants Helped Build UK ...
Value Walk   |   Thu, 30 Jun 2016 14:09:49

Obama Administration's Goal Is to Undermine Brexit Vote

Before Britain's historic vote to leave the European Union last Thursday, the Obama administration was eager to pressure the British people to stay in. They... Read More The post Obama Administration's Goal Is to Undermine Brexit Vote appeared first on The Daily Signal .
Ted Bromund / The Foundry   |   Thu, 30 Jun 2016 14:08:42

EUR/USD inter-markets: the pair might be done with its near-term technical bounce

Following the Brexit led sharp fall to over 3-month low levels, a slight improvement in global risk sentiment assisted the EUR/USD pair to recover and
Haresh Menghani / FX Street   |   Thu, 30 Jun 2016 14:06:25

UK business investment falls as uncertainty mounts and economy slows

Signs of early Brexit worries affecting the economy were provided by official data showing business investment falling in the first quarter of the year. Gross fixed capital investment fell 0.1% in the first three months of the year, according to the Office for National Statistics, revised down from an earlier ...
Markit   |   Thu, 30 Jun 2016 14:04:50

What Happens Next?

While we are sure stocks know better, it appears the considerably more massive and FX and bond markets seem far less enthused over the Brexit Bounce... Four words - "window dressing is over!"
Zero Hedge   |   Thu, 30 Jun 2016 14:03:21

Can We All Please Stop With the Brexit Shadenfreude?

Please, Americans, the British do not need your partisanship right now. Wish the parties well, hope for the best, and please, don't drag them into a pre-November brawl instead. This is one American export we can all do without.
Christine Nikol / NY Observer   |   Thu, 30 Jun 2016 14:01:01

Brexit's Unlikely Lessons for Hillary Clinton

Start Making Sense, Jon Wiener Ari Berman on the GOP's war on voting rights, Zoë Carpenter on the Supreme Court and abortion, and D.D. Guttenplan on Brexit and Trump.
Start Making Sense, Jon Wiener / The Nation   |   Thu, 30 Jun 2016 14:00:24

Barclays 'has no plans to move jobs' after Brexit vote

Banking giant Barclays has no plans to move jobs out of the UK following the vote to leave the European Union, chief executive Jes Staley tells the BBC.
BBC   |   Thu, 30 Jun 2016 14:00:14

Brexit: of the EU Practically Irreversible."

At long last the tyranny of the global financial elite has been slammed good and hard.... The British people have rejected the arrogant rule of the EU superstate and the tyranny of its unelected courts, commissions and bureaucratic overlords.... Smaller government--at least in geography--is... Please click on the post title ...
EconMatters / EconMatters Global   |   Thu, 30 Jun 2016 14:00:00

Brexit: Mark Carney statement

Mark Carney is set to make a statement on the Bank of England's position a week on from the EU referendum.
BBC   |   Thu, 30 Jun 2016 13:57:27

Brexit: Why the UK is Unlikely to Have a General Election Soon

Explaining the not-well-understood UK general election rules and how they play into the Brexit calculation.
Yves Smith / Naked Capitalism   |   Thu, 30 Jun 2016 13:55:04

HSBC plays down chance of moving 1,000 jobs out of London on Brexit

Tim Wallace / Telegraph   |   Thu, 30 Jun 2016 13:55:01

One S&P 500 Company Has Already Cited "Brexit" in EPS Guidance

Positive Shift In EPS Guidance For Q2 by John Butters, FactSet For Q2 2016, 81 companies have issued negative EPS guidance and 32 companies have issued positive EPS guidance. After hitting a record high in Q1 2016 (96), the number [...] The post One S&P 500 Company Has Already Cited ...
Guest Post / Value Walk   |   Thu, 30 Jun 2016 13:52:46

Mooning the Elite

Connecting Dots BALTIMORE - U.S. stocks bounced on Tuesday, with the Dow up 269 points [and even further on Wednesday, ed.]. Was that all there was? Is the "Brexit" scare over? We don't know... but we're going to take a pause today. Instead of trying to connect the new dots, ...
Acting Man   |   Thu, 30 Jun 2016 13:49:40

Samuel Adams brewer plots 'Brexit' cider

Ben Martin / Telegraph   |   Thu, 30 Jun 2016 13:49:01

Steven Romick - Will Brexit Spark A Much-needed Market Revaluation?

Steven Romick's, co-portfolio manager of FPA Crescent Fund, special commentary titled, "Will Brexit Spark A Much-needed Market Revaluation?" Markets globally have reacted negatively to the British having voted to leave the European Union (EU) after more than four decades. The [...] The post Steven Romick - Will Brexit Spark A ...
VW Staff / Value Walk   |   Thu, 30 Jun 2016 13:48:20

Light at the End of the (Channel) Tunnel

The decision to hold a referendum as to whether the United Kingdom (UK) should remain a member of the European Union (EU) introduced the term "Brexit" into the global political lexicon. Now that the UK has voted to leave the EU, the term has spawned new variations: will the UK's ...
Harvard Law School Forum   |   Thu, 30 Jun 2016 13:47:51

AQR's managed futures strategy up 5.2 pct on Brexit Friday

LONDON, June 30 (Reuters) - New York-based investment firm AQR Capital Management's Managed Futures Strategy returned 5.2 percent on June 24 after Britain voted to leave the European Union, an AQR...
Reuters   |   Thu, 30 Jun 2016 13:47:29

Brexit Divorce Proceedings

Calvin Trillin
Calvin Trillin / The Nation   |   Thu, 30 Jun 2016 13:45:01

George Soros says Brexit can lead to positives for Europe

Billionaire investor and philanthropist George Soros has given his view of what happens now to Europe after the Brexit vote. "Addressing the...
euronews   |   Thu, 30 Jun 2016 13:44:45

Brexit hits pensions, right-to-invest scheme and student loan petition

Plus, how to cancel gym membership, woodland homes and midlife internships to get back into top jobs Hello and welcome to this week's Money Talks - a roundup of the week's biggest stories and some things you may have missed. Continue reading...
Hilary Osborne / Guardian   |   Thu, 30 Jun 2016 13:43:48

Volatility Measurements - In Like A Lamb And Out Like A Lamb?

Volatility Measurements - In Like A Lamb And Out Like A Lamb? Via @Connectedwealth Thursday, June 30th, 2016 Contributors: C.Basinger, D.Benedet, C.Kerlow, D.Mak Volatility Measurements - Today Brexit this, Brexit that, already this is becoming a bit of a bore. [...] The post Volatility Measurements - In Like A Lamb ...
Value Walk   |   Thu, 30 Jun 2016 13:43:10

'Traumatic Effect' Of Brexit Result Will Be Felt For A Long Time - Putin

SOT, Vladimir Putin, Russian President (Russian): "The so-called Brexit was a choice made...
D Volatility / Distressed Volatility   |   Thu, 30 Jun 2016 13:41:00

The Coming End of the "Third Way" System

The Best Thing About the EU is J.C. Juncker's Alcoholism We recently discussed the post-Brexit landscape with a friend (in fact, our editor), who bemoaned that "the EU is led by a drunkard". Our immediate reaction to this was to exclaim: "That's the best thing about the EU!" J.C. Juncker's ...
Acting Man   |   Thu, 30 Jun 2016 13:36:47

Slovakia Says Newer Members Can Shape EU's Future

Slovakia's Prime Minister Robert Fico said countries that have joined the European Union since 2004 can shape the bloc's policies and agenda, making up for failings in recent years, notably on migration.
WSJ   |   Thu, 30 Jun 2016 13:35:41

Lloyds executives buy 829,000 shares in post-Brexit show of confidence

LONDON (Reuters) - Fifteen Lloyds Banking Group executives have bought almost a million of the lender's shares in a post-referendum show of confidence in Britain's economic prospects after the country voted to leave the European Union on Friday.A total of about 829,000 shares in the state-backed bank were bought at ...
Business Insider   |   Thu, 30 Jun 2016 13:34:54

Stocks edge higher on last day of 2nd quarter

After two big up days following two big down downs following the Brexit vote, U.S. stocks kick off the day with modest gains.
USA Today   |   Thu, 30 Jun 2016 13:33:37

Equity funds lose billions after Brexit

Short-term volatility shakes markets in the wake of the UK's vote to leave the EU
FT   |   Thu, 30 Jun 2016 13:32:59

Farage deserted by Brexit bandmates?

It's been almost a week since the British public went to the polls and set in motion one of the most traumatic periods in the country's recent history.
CNN   |   Thu, 30 Jun 2016 13:32:27

British Teens Hurl Racial Slurs At US Veteran Following Brexit Vote (VIDEO)

LONDON (AP) - As videos, photos and written accounts of intolerant abuse percolate across the internet in the wake of Britain's referendum to leave the European Union, Juan Jasso has become one of the country's best-known victims. Read More
RAPHAEL SATTER / TPM   |   Thu, 30 Jun 2016 13:31:16

GEORGE SOROS: Brexit has 'unleashed a crisis' as bad as 2008

Hedge fund legend George Soros thinks the vote for a British exit from the European Union is bringing calamity to the world's financial markets. Brexit has not only created an opening to reinvent the European Union - it has also aggravated two looming dangers," Soros said Thursday in a speech ...
Money Game   |   Thu, 30 Jun 2016 13:29:56

Brexit contagion could consume France

The French no longer dream of Europe, writes Philippe Le Corre
FT   |   Thu, 30 Jun 2016 13:26:23

Post-Brexit rally set to run out of steam, with stock futures flat

Seeking Alpha / Seeking Alpha   |   Thu, 30 Jun 2016 13:25:06

Stocks Rebound, but Brexit Jitters Linger

Two of the best days for stocks this year began to undo two of the worst, putting major U.S. indexes back into the black for 2016. But still-strong demand for the safety of government bonds and currencies like the yen shows that markets are far from sounding the all-clear.
WSJ   |   Thu, 30 Jun 2016 13:23:17

Gold Prices Steady as Brexit Worst 'Could Be Yet To Come', Chaotic UK Parliament Debates Lindsay Lohan Tweets

Gold Prices Steady as 'Brexit = Lehmans', Worst 'Yet to Come', Chaotic UK Parliament Debates Lindsay Lohan Tweets Submitted by Adrian Ash, Bullion Valut on Thu, 06/30/2016 - 13:36, GOLD PRICES held tight at this week's opening level on Thursday [...] The post Gold Prices Steady as Brexit Worst 'Could ...
Guest Post / Value Walk   |   Thu, 30 Jun 2016 13:21:51

Brexit and Beyond

In this post, I will stray a bit from monetary issues but not too far. The British people voted last Thursday (June 23rd ) to exit the European Union. How should that decision be viewed by classical liberals? Do Americans have a stake in the outcome? Should... Continue reading The ...
Gerald P O'Driscoll / Free Banking   |   Thu, 30 Jun 2016 13:17:51

What I learned from trying - and failing - to stop Brexit

People disagree with me? read more
Tim Worstall / Tim Worstall   |   Thu, 30 Jun 2016 13:17:42

Stock Futures Turn Negative After Two-Day Relief Rally

U.S stocks futures turned negative Thursday after a significant two-day recovery that nearly erased the Brexit-triggered losses.
Shreya Agarwal, Forbes Staff / Forbes   |   Thu, 30 Jun 2016 13:15:00

The upside of Brexit: 9 ways to save

The U.K.'s Brexit vote sent global markets into a tailspin. But beyond the gloomy scenarios lie a a few short-term upsides, The Fiscal Times reports.
CNBC   |   Thu, 30 Jun 2016 13:12:00

Boris Johnson has just thrown British politics into complete and total chaos

The bizarre roller coaster of post-Brexit United Kingdom politics took another twist on Thursday as Boris Johnson, the favorite to succeed Prime Minister David Cameron, announced that he won't run for the position after all. Johnson - the former London mayor whose populist appeal, Brexit support, and imperviousness to gaffes ...
Libby Nelson / Vox   |   Thu, 30 Jun 2016 13:10:14

Amanpour Irate Over Brexit, Hannan Gives Her What-fer

Our pal Daniel Hannan, British MEP and Leave leader, went toe-to-toe with lefty CNN journalist Christiane Amanpour, who cannot contain her digust over the U.K.'s Brexit vote. It's a classic example of liberal media bias, and (bravo!) of Hannan's refusal to tolerate you-racists smears.
Jack Fowler / National Review   |   Thu, 30 Jun 2016 13:09:02

Canada's GDP edges up for first time in two months, but headwinds threaten

The 0.1% growth is a positive start to a quarter that's expected to get worse, with the Alberta wildfire impact still to come and the unexpected wildcard of the Brexit fallout
Gordon Isfeld / Financial Post   |   Thu, 30 Jun 2016 13:06:44

Brexit forex trading bonanza boosts banks

Record day on foreign exchange desks tests stamina and resilience
FT   |   Thu, 30 Jun 2016 13:05:52

CORRECTED-GM economist:no Brexit impact to US auto market now; more UK car production possible

Mustafa Mohatarem said the most immediate likely impact for U.S. auto sales was a positive one as last week's referendum result brought with it a greater chance that U.S. interest rates "will remain lower longer" than if British voters had decided to stay in the European Union. he said referring ...
CNBC   |   Thu, 30 Jun 2016 13:03:00

It Will Backfire If EU Pushes for Punitive Economic Measures After Brexit

It's not in the European Union's economic and long-term interests to punish Britain over the Brexit vote.
Ryan Nabil / U.S. News   |   Thu, 30 Jun 2016 13:00:00

CS: Sterling Is Still Overvalued, Buy UK Large-Caps

CS: Sterling Is Still Overvalued, Buy UK Large-Caps Since the outcome of the UK referendum at the end of last week, there has been a deluge of information from analysts, news outlets, and TV pundits on what Brexit means for [...] The post CS: Sterling Is Still Overvalued, Buy UK ...
Rupert Hargreaves / Value Walk   |   Thu, 30 Jun 2016 12:59:05

Top Analyst Upgrades and Downgrades: Motorola, Nokia, ProLogis, Qualcomm, Silver Wheaton, Yamana Gold and Many More

The markets bounced handily on Tuesday and Wednesday in the post-Brexit aftermath, and shares were only marginally higher on Thursday morning. Investors may have different reasons each time, but they... AGI AUY IAG MSI NOK PLD QCOM SLW SPR SWN Administrator bull and bear
24/7 Wall St.   |   Thu, 30 Jun 2016 12:54:47

My 350 on BREXIT: The centre can no longer hold

"Being Greek, I have been feeling pessimistic about the future of the EU for some time now." The referendum has sparked what is now, one week later, a full blown political crisis in the United Kingdom. In the absence of strong leadership in the two main parties, this crisis is ...
Despina Biri / Open Democracy   |   Thu, 30 Jun 2016 12:54:04

JPY: Maintain a neutral view at these levels - Westpac

Robert Rennie, Research Analyst at Westpac, suggests that the shock Brexit outcome saw USD/JPY smash down through 102 (as we expected) though weakness
Sandeep Kanihama / FX Street   |   Thu, 30 Jun 2016 12:52:52

Why banks are suffering the most amid Brexit uncertainty

World markets may be trying to slowly edge back to their pre-Brexit levels, but the European banking sector faces headwinds.
CNBC   |   Thu, 30 Jun 2016 12:49:00

Why Brexit could hit Q3 and Q4 earnings

Brexit may torpedo any chance of a return to positive earnings growth for the S&P 500 for the year.
CNBC   |   Thu, 30 Jun 2016 12:47:00

Brexit fears put aside as corporates go for sterling

LONDON, June 30 (IFR) - British American Tobacco and Brown-Forman reopened the sterling corporate market on Thursday after a month-long hiatus, attracting blowout demand just a week after the UK...
Reuters   |   Thu, 30 Jun 2016 12:46:00

Brexit: inequality, the media and the democratic deficit

When publics are abandoned, when their voices no longer matter and their identities are demolished through economic inequality, precarity and non-recognition, they lose faith in the political institutions that are supposed to represent them. Flickr/Roebot. Some rights reserved. Brexit has come as a shock to many people - including those ...
Natalie Fenton / Open Democracy   |   Thu, 30 Jun 2016 12:45:45

FX traders pick through Brexit wreckage

Britain's vote to exit the European Union fired volatility back into currency markets and gave traders opportunities in a number of currency pairs, including minors and exotic currencies as well as the majors.
Euromoney   |   Thu, 30 Jun 2016 12:45:00

In Brexit month, investors dump shares, flee for safety of cash

By Sujata Rao LONDON (Reuters) - Global investors bought real estate, added to cash holdings and cut equity allocations to the lowest in at least five years as this month's shock Brexit vote added to an already toxic mix of sluggish world growth and volatile markets. The monthly Reuters survey ...
Business Insider   |   Thu, 30 Jun 2016 12:43:47

The anti-Semitism controversy roiling the UK Labour party, explained

Thursday morning, embattled Labour Party leader Jeremy Corbyn gave a speech on anti-Semitism inside the UK Labour Party. Corbyn, currently fighting for his political life in the wake of accusations that he didn't work hard enough to stop Brexit, was announcing the conclusion of an investigation into recent accusations that ...
Vox   |   Thu, 30 Jun 2016 12:39:00

How Will The Brexit Impact US Airlines?

Contrary to market expectations, the United Kingdom surprisingly voted in favor of leaving the European Union through a referendum on 23rd June 2016. While the Brexit, or the exit of Britain from the EU, may not have many short term implications, it is likely to significantly impact the economic health ...
Trefis Team, Contributor / Forbes   |   Thu, 30 Jun 2016 12:38:00

U.K.'s EU Exit Poses Data-Protection Dilemma

Brexit risks stripping companies of their ability to freely store information about EU residents on British soil, potentially creating a new barrier to trade in the region.
WSJ   |   Thu, 30 Jun 2016 12:36:10

Brexit Is Years Away and Might Not Be Bad

I am amazed at all the negative press surrounding the recent U.K. referendum vote in favor of leaving the European Union ("EU"). Various observers, many of whom are unfamiliar with British politics, have apparently decided that this decision is a bad one. However, since negotiations haven't begun, or even been ...
Ron Rowland / Invest With An Edge   |   Thu, 30 Jun 2016 12:35:40

No Lehman moment on currency markets after Brexit vote

While the pound sterling has lost a lot of its value in right after the Brexit vote, from a historical perspective neither the fall of the exchange rate, nor its current level, is unprecedented. The situation is not as severe as it was in the aftermath the collapse of Lehman ...
Zsolt Darvas / Bruegel   |   Thu, 30 Jun 2016 12:33:38

Putting The BREXIT-Fueled Move In Perspective

When the votes were tallied and the surprise outcome became apparent last week, equity indexes around the world began to fall precipitously (along with almost every other asset class that... The post Putting The BREXIT-Fueled Move In Perspective appeared first on See It Market .
Sal Cilella / See It Market   |   Thu, 30 Jun 2016 12:32:49

Taiwan cuts rate 12.5 bps as Brexit poses risks to outlook

Taiwan's central bank cut its policy rates for the fourth consecutive time by 12.5 basis points to support economic growth in light of the current slack in the global economy and the fallout from the UK decision to leave the European Union that have compounded downside risks to global trade ...
centralbanknews.info / Central Bank News   |   Thu, 30 Jun 2016 12:32:00

Extremists See Trump As An Opportunity, Pro-Brexit Boris Johnson Won't Run For PM, And Friendship In The Face Of Cancer

Check out Thursday's newsletter! Read More
TPM   |   Thu, 30 Jun 2016 12:30:48

'Scotland Still Loves EU': Must-See Photos From the Massive Brexit Protests in Scotland (Multimedia)

Protests were held outside Scottish Parliament in Edinburgh Wednesday and last Friday after the EU referendum results showed Scots overwhelmingly want to remain in the union. Meanwhile, Scottish politicians are doing what they can to deliver their people's wishes. Related Entries June 29, 2016 Comments of the Week: On the ...
truthdig   |   Thu, 30 Jun 2016 12:30:19

Will the UK actually get to Brexit?

Being a lifelong California voter has taught me to be deeply skeptical of referendums. My three years of living in the UK has continually exacerbated that skepticism. The "Leave" vote on the Brexit referendum, in which the UK voted to leave the European Union, has shocked markets, caused Prime Minister ...
Darren Schreiber / Vox   |   Thu, 30 Jun 2016 12:30:03

Brexit: The view from England's "Little Poland"

In last week's referendum, Boston recorded the highest percentage of votes in the UK to leave the EU.
Al Jazeera   |   Thu, 30 Jun 2016 12:26:12

The FED Finds A Good Excuse To Extend And Pretend Through Brexit

The FED Finds A Good Excuse To Extend And Pretend Through Brexit - Nathan McDonald, Sprott Money Brexit has happened. Those who are not happy with this reality are making their voices heard; yet, so too are those who are [...] The post The FED Finds A Good Excuse To ...
Sprott Money / Value Walk   |   Thu, 30 Jun 2016 12:26:07

Obama: Brexit could hit growth, if it happens

President Obama warned of a long term hit to global growth if Britain leaves the EU.
CNN   |   Thu, 30 Jun 2016 12:24:41

Thursday Morning Links

MUST READS Boris Johnson rules out bid to be UK PM - BBC Obama: Brexit a Threat to Global Growth - IBT Brexit and the Norway Model - At A Glance - WSJ Why elections are bad for democracy - Guardian It's Time for the Elites to Rise Up Against ...
Tim Iacono   |   Thu, 30 Jun 2016 12:22:56

High Profile Socialist French Economist Quits as Adviser to UK's Labour Party

Socialist French economist Thomas Piketty If Brexit accomplishes nothing else, this in itself should be considered a sufficient victory for the entire effort. Thomas Piketty, author of the anti-capitalistic best seller, Capital in the Twenty-First Century, is jumping off a sinking ship and has quit his role as an advisor ...
Robert Wenzel / Economic Policy Journal   |   Thu, 30 Jun 2016 12:20:00

Did media help spread Brexit myths?

CNN   |   Thu, 30 Jun 2016 12:18:04

World's Most Systemically Dangerous Bank Crashes Back To Record Lows

Despite all the exuberance over the Brexit bounce in US (and UK) equities, never minds bonds, FX, and credit being far less enthusiastic, Deutsche Bank is plunging once again this morning. Having failed The Fed's stress test for the second year running and been diagnosed by The IMF as the ...
Zero Hedge   |   Thu, 30 Jun 2016 12:17:31

FTI Consulting Survey Shows Deep Concern Regarding Economic Impact of Brexit on UK and EU Member States

LONDON, June 30, 2016 (GLOBE NEWSWIRE) - FTI Consulting, Inc. (NYSE:FCN), the global business advisory firm dedicated to helping organisations protect and enhance their enterprise value, today announced findings from a survey gauging global institutional investors' immediate reactions to the [...] The post FTI Consulting Survey Shows Deep Concern Regarding ...
GlobeNewswire / Value Walk   |   Thu, 30 Jun 2016 12:16:21

ECB could ease further - TDS

Global Strategy team at TD Securities sees the European Central Bank cutting its rates further following 'Brexit' induced uncertainty. Key Quotes "W
Pablo Piovano / FX Street   |   Thu, 30 Jun 2016 12:12:52

How Brexit threatens Britain's food security

We're used to abundance, but Brexit makes it all seem more fragile. Eric/Flickr, CC BY-NC-SA The situation created by the British vote to leave the European Union is momentous for UK food. It is on a par with the Repeal of the Corn Laws of 1846 when Britain decided its ...
Tim Lang, Professor of Food Policy, City University London / The Conversation   |   Thu, 30 Jun 2016 12:12:22

Wall Street looks to end June with another rally

U.S. stock futures were steady this morning, after two sessions of gains recovered about 60 percent of the post-Brexit losses Friday and Monday on Wall Street.
CNBC   |   Thu, 30 Jun 2016 12:08:00

Jensen Investments: Brexit - The British Are Leaving!

Jensen Investments on Brexit: The British Are Leaving! The British Are Leaving! H/T Dataroma While the famous cry during the American Revolution attributed to Paul Revere may ring true in reverse, it's probably worth taking a breath and a step [...] The post Jensen Investments: Brexit - The British Are ...
VW Staff / Value Walk   |   Thu, 30 Jun 2016 12:05:02

Britain, Post-Brexit

Here's what we know on Thursday, June 30: -Boris Johnson won't contest the Conservative Party leadership race to succeed David Cameron; Michael Gove and Theresa May will. -EU leaders say "there will be no single market a la carte" for the U.K. -The Labour Party's leadership crisis deepens; even Prime ...
Kathy Gilsinan / The Atlantic   |   Thu, 30 Jun 2016 12:03:00

Brexit: an opportunity for Italian fashion?

GETTY IMAGES The Brexit referendum, or the vote of the United Kingdom to leave the European Union, could turn out to be an opportunity for the Italian fashion industry. This analysis was published just a few days ago on the respected Italian newspaper, the Corriere della Sera. The words of ...
Nathania Zevi, Contributor / Forbes   |   Thu, 30 Jun 2016 12:01:00

HSBC's chairman commits to UK base

UK's biggest bank rules out moving headquarters away from London following Brexit vote
FT   |   Thu, 30 Jun 2016 11:55:35

Brexit gives Dombrovskis sway over banks

Former Latvian PM inherits EU financial services brief sacrificed by UK's Lord Hill
FT   |   Thu, 30 Jun 2016 11:52:26

Brexit: For Or Against, Why Britain's Entrepreneurs Are Seeing A Glass Half Full

When the Brexit going gets tough, entrepreneurs get going
Alison Coleman, Contributor / Forbes   |   Thu, 30 Jun 2016 11:48:00

Pound rises as Boris Johnson drops out

LONDON - The British pound spiked Thursday immediately after top Brexit campaigner and former London mayor Boris Johnson said he will not stand to succeed Prime Minister David Cameron.
Bangkok Post   |   Thu, 30 Jun 2016 11:45:00

Brexit campaigner Boris Johnson withdraws from race to become Britain's prime minister

The race to become Britain's next prime minister took a dramatic last-minute turn with former London Mayor Boris Johnson - considered a front-runner - ruling himself out of the race after the defection of a key ally on Thursday. Johnson, a prominent campaigner for British withdrawal from the European...
Associated Press / LA Times   |   Thu, 30 Jun 2016 11:43:00

Brexit EU's wakeup call

Jerome Booth, New Sparta chairman explains why he voted to leave the European Union.
CNBC   |   Thu, 30 Jun 2016 11:32:00

Brexit threatens City of London: a Q&A

London is the world centre of the complex plumbing of markets, but leaving the EU complicates that
FT   |   Thu, 30 Jun 2016 11:30:18

FX: Retail investors dodge sterling Brexit bullet

How and why trading was dominated by banks and ECNs, with retail investors cautious about getting steamrolled by volatility.
Euromoney   |   Thu, 30 Jun 2016 11:30:00

Asian Shares Close Higher

Stock markets across Asia mostly finished higher Thursday on the back of gains in energy and mining shares, capping a volatile and eventful first half of the year.
WSJ   |   Thu, 30 Jun 2016 11:27:43

UK looks China and India after Brexit

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

USA TODAY poll: Americans see Brexit anger as widespread

The Brexit earthquake isn't just British.
USA Today   |   Thu, 30 Jun 2016 11:26:50

Month End Demand Trumps Brexit Woes

Seeking Alpha   |   Thu, 30 Jun 2016 11:26:01

NZD: Lingering geopolitical uncertainty should cap the upside at 0.7300 - Westpac

Imre Speizer, Research Analyst at Westpac, notes that the NZD/USD lost 3c in response to the Brexit vote but has recouped about half the loss at 0.712
Sandeep Kanihama / FX Street   |   Thu, 30 Jun 2016 11:21:49

HSBC rules out leaving London after Brexit vote

Chairman says referendum result would not prompt review of bank's HQ
FT   |   Thu, 30 Jun 2016 11:21:11

UK: Sentiment have fallen to their lowest levels in over two years - BBH

Research Team at BBH, notes that the UK's GfK consumer confidence came in at -1 in June vs. -2 expected but the impact of the Brexit vote wouldn't be
Sandeep Kanihama / FX Street   |   Thu, 30 Jun 2016 11:18:38

Eastern Europe shuns EU integration

Visegrad countries blame Juncker and European Commission for pushing UK towards Brexit
FT   |   Thu, 30 Jun 2016 11:15:29

Brexit shows value of bonds: Jeffrey Rosenberg

BlackRock's Jeffrey Rosenberg, shares his outlook on the fixed income space and weighs in on why investors should have bonds in their portfolios.
CNBC   |   Thu, 30 Jun 2016 11:15:00

Brexiter Johnson: I won't run for leadership

CNN   |   Thu, 30 Jun 2016 11:13:08

Trillions Are Recovered As Stocks and Commodities Rally In The Aftermath of 'Brexit' Panic

The last several days have shown the strength of the movement of futures contracts and their ability to recover from adverse moves. The most closely watched, for sure, is the E-mini S&P 500 Futures which has recovered more than half of its losses since the lows on Monday. Some may ...
Fred Oltarsh, Contributor / Forbes   |   Thu, 30 Jun 2016 11:05:00

Shocked UK consumers ditch spending plans after Brexit vote

Britons are putting big purchases on ice with some pulling out of property purchases and others looking for work abroad Britons spooked by the shock vote to leave the EU are ditching plans to buy homes, putting big purchases on ice, and looking for work abroad. The panic triggered in ...
Angela Monaghan and Hilary Osborne / Guardian   |   Thu, 30 Jun 2016 11:03:26

SE Asia stocks higher as post-Brexit rebound continues

Most Southeast Asian markets closed higher on Thursday, tracking regional peers, as markets shrugged off the impact of Britain's stunning vote to leave the European Union.
Bangkok Post   |   Thu, 30 Jun 2016 11:02:00

Market's message: Brexit was overblown

OK. Last week was last week.
USA Today   |   Thu, 30 Jun 2016 11:01:24

Brexit vote shows politicians have shirked economic duties for too long

Central banks have done all they can in the aftermath of the recession. The future of the global economy is in the hands of our elected officials While we watch the reactions to Brexit ripple their way through financial markets and speculate about the magnitude of the economic fallout, there's ...
Suzanne McGee / Guardian   |   Thu, 30 Jun 2016 11:00:29

Could Deutsche Boerse-LSE merger be one of the big Brexit casualties?

Concerns are rising that one of the biggest business casualties of the U.K.'s decision to leave the EU is the planned Deutsche Boerse merger with the LSE.
CNBC   |   Thu, 30 Jun 2016 10:52:00

Barack Obama: Brexit could hit global growth

President Obama warned of a long term hit to global growth if Britain leaves the EU.
CNN   |   Thu, 30 Jun 2016 10:50:46

Britain Delays Airport Expansion Decision After Brexit Vote

The U.K. government has again postponed a decision on how to address a looming airport capacity shortage for the country's capital, with a verdict now pushed back at least another four months.
WSJ   |   Thu, 30 Jun 2016 10:50:10

Britain's Remain Voters Expect A Big Financial Hit [Infographic]

In the wake of Britain's shock vote to leave the European Union last week, international markets were plunged into turmoil. Investors scrambled to invest their assets in safe-havens such as gold and silver while sterling nosedived 11 percent. While the long term economic consequences of the Brexit are currently unclear, ...
Niall McCarthy, Contributor / Forbes   |   Thu, 30 Jun 2016 10:49:00

Brexit: Young to blame?

Before the UK voted to Brexit, it was suggested that the turnout of young people could decide the result. If the youth rocked the vote, the logic went, Remain would win.
CNN   |   Thu, 30 Jun 2016 10:46:17

Goldman: 3 Bargains Created By Brexit Fears

Goldman: 3 Bargains Created By Brexit Fears As investors hedge against geopolitical aftershocks, earnings reports may boost Amazon, Dick's, and Post. Goldman: 3 Bargains Created By Brexit Fears As investors hedge against geopolitical aftershocks, earnings may boost Amazon, Dick's, and Post.
Barrons   |   Thu, 30 Jun 2016 10:45:46

UK current account deficit deepens Brexit fears

ONS data reveals weaker than thought trading position amid warnings that economy is on verge of recession after EU referendum Britain's trading position with the rest of the world was much worse than feared in the opening months of this year, intensifying concerns over how the economy will fare outside ...
Katie Allen / Guardian   |   Thu, 30 Jun 2016 10:44:30

Home Builders Offer Shelter From Brexit, Shocks

Home Builders Offer Shelter From Brexit, Shocks CalAtlantic and Taylor Morrison are favored builders. Caesarstone gets a lift from the quartz secular growth story.Home Builders Offer Shelter From Brexit, Shocks CalAtlantic and Taylor Morrison are favored builders. Caesarstone gets a lift from the quartz secular growth story.
Barrons   |   Thu, 30 Jun 2016 10:44:16

UK will be fine but watch EC: Pro

Mark Grant, Hilltop Securities, shares his outlook on the European Union post-Brexit. I'm not sure the EU is going to survive, says Grant.
CNBC   |   Thu, 30 Jun 2016 10:42:00

Oil inter-market: Further downside in play as US equities indicate

The US oil benchmark, WTI, halted its post-Brexit rebound and fell Thursday on the back of renewed jitters over the economic and political uncertainty
Dhwani Mehta / FX Street   |   Thu, 30 Jun 2016 10:41:56

UK credit rebounds as investors return

Bonds for some of the weakest UK corporate buyers have rebounded from post-Brexit lows
FT   |   Thu, 30 Jun 2016 10:41:30

Calais refugees: We won't give up despite Brexit

Residents of 'Jungle' camp in France say they are worried after vote to leave EU but their plans have not changed.
Al Jazeera   |   Thu, 30 Jun 2016 10:37:57

How Brexit could still spook the oil market

Trading in commodity markets might have resumed relative normality following Brexit turbulence, but one investment bank has detailed the downside risk.
CNBC   |   Thu, 30 Jun 2016 10:35:00

UPDATE 1-UK current account gap remained near record high before EU vote

* YouGov consumer index points to big hit from Brexit vote (Adds detail, economist reaction)
Reuters   |   Thu, 30 Jun 2016 10:32:26

Article 50: Don't leave me this way - Westpac

Robert Rennie, Research Analyst at Westpac, suggests that given their base case, Friday's vote was an earth shaking shock for them but post the Brexit
Sandeep Kanihama / FX Street   |   Thu, 30 Jun 2016 10:28:10

Message of the market: Brexit was overblown

A two-day rally following a two-day rout suggests the market believes the initial stock downdraft was overdone.
USA Today   |   Thu, 30 Jun 2016 10:26:21

Whirlpool Won't Be Spun by Brexit

Recent positives moves in the Brazilian currency offset the negative moves in the British pound.
Barrons   |   Thu, 30 Jun 2016 10:25:17

Brexit: FT markets' analysis in review

A look back at our coverage before and after the vote
FT   |   Thu, 30 Jun 2016 10:18:55

Why TTIP will live on - but not in the EU

The Transatlantic Trade and Investment Partnership - also known as TTIP - could be the next casualty in the Brexit fallout. But not in the way you might expect. The controversial trade agreement between the EU and United States could well fall apart, only for the UK to pick up ...
Ioannis Glinavos, Senior Lecturer in Law, University of Westminster / The Conversation   |   Thu, 30 Jun 2016 10:17:42

Clive Coleman: Can the law stop Brexit?

Legal opinions are emerging as to how the UK's departure from the European Union might be slowed or even stopped, says Clive Coleman.
BBC   |   Thu, 30 Jun 2016 10:17:23

The Real Lesson From Brexit

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