Friday, June 24, 2016

Economic News , Data & Views .... June 24 , 2016..... Quick Hits - 1. Markets : June 24, 2016 AKA "Black Swan Friday" ; Not Surprisingly - A Notable Day For The VIX ; Austria Loses Last AAA Rating , Yet UK Retains Its Top Ratings ; Bloodbath For The Banks Today. 2 Brexit Highlights ( Much More At Twitter T.L. ) 3. Spanish Election On Deck. 4. Odds & Ends. )



Markets.....







As Wichita Falls ,  So Falls Wichita .........

















June 24, 2016 will forever be known as "Black Swan Friday"...







Surveying the bloody battlefield...







Volatility Index up 49% today, the 5th largest 1-day spike in history.






has lost last AAA as Moody's downgrades rating to Aa1 following S&P and Fitch, citing weak growth prospects







Despite Brexit vote , UK still retains top rating With DBRS. Imagine that ?








And Moody's also retains top rating...







Global bank investors are voting w/ their feet: Bank shares take a bit of random Brexit walk








Bloodbath for the major Italian banks...









Markets see next move by Fed potentially being rate cut , not a hike.








BREXIT....EU & Member States Face Serious Consequences Now








Should the United Kingdom Remain a Member of the European Union or Leave the European Union? Remain: 48.1% Leave: 51.9%









Tomorrow's Mail!









World adjusts to after initial shock








The keys for voters...








George Soros, who warned on Brexit, among hedgies profiting in market plunge.









I would expect those concerns are very real. Well founded concerns before today -and now there is precedent.









GERMAN FINANCE MINISTRY ESTIMATES GERMAN CONTRIBUTION TO EU BUDGET COULD RISE BY 3 BLN EURO FOLLOWING BREXIT-







EU Parliament going to hammer UK at Tues emergency session: resolution calls on Cameron to trigger Art 50 at summit







Speaker Ryan on UK vote: "Special relationship" with UK "is going to continue no matter what. Period. End of story."








I think Cameron may be leaving sooner than October...








Looks like Plan B already formulated.. most likely due to fear of further referendums.








The loss by Remain is surprising but not undeserved. Project Fear was a stupid strategy






Turkey urges EU to be more inclusive after , prefers strong bloc








Lagarde: "We strongly support commitments of Bank of England and ECB to supply liquidity to the banking system"















Morgan Stanley issues denial of claim it has begun moving investment bankers from London. False report -as per M.S.







Ahhh NOW all is well... *IMF URGES U.K., EU TO WORK COLLABORATIVELY ON BREXIT TRANSITION






GERMANY WANTS TO OFFER BRITAIN ASSOCIATED PARTNERSHIP STATUS WITH EU -HANDELSBLATT CITING FINANCE MINISTRY STRATEGY PAPER: RTRS






*MERKEL TO ADDRESS GERMAN LOWER HOUSE ON BREXIT ON TUESDAY ...Tuesday







Spain.....






Spain's leading stock index, the IBEX 35, fell more than 12%, more than 1,000 points, on Brexit result day.








Mish gives his thoughts regarding Spain..







 7hr

So , how does Brexit impact Spain's Election on Sunday ? Looks like Podemos & PSOE gaining ground on PP.









Missed this one. Remains to be seen how this plays out for not just Sunday , but forming a new Gov't afterwards.








"We think that it's necessary to rebuild the idea of Europe"








Rajoy: British expats will have same rights in ... for now









Spanish Election on deck for Sunday !






Odds & Ends....





Labor Law protests wearing down police officers -or another agenda ?








My agenda next week including meeting programme on and :








In under 36 hours, teams have rescued 2028 men, women & kids. That's 2028 with no option but the sea.










The first boat rescued by the today was this overcrowded rubber raft, carrying some 124 terrified .









The second was this fishing boat carrying 390 . We never get used to seeing how precarious these boats are.









BREAKING: The has 639 on board after completing two rescues in the this morning.