Markets.....
BofA forecast changes:
- US GDP from 2.0% to 1.8% in 2017
- Eurozone GDP from 1.6% to 1.1% in 2017
- UK GDP cut from 2.3% to 0.2% in 2017
Totally mad world: #Brexit adds $380bn to global negative-yielding bond pile. http://bloom.bg/2915ZD7
In other news the world's central bankers met at the BIS HQ again to prop up markets
IG's Sunday FTSE is open and trading at 5958:
180 points lower than Friday's official UK close.
Dubai and other middle eastern stock mkts slump as investors weigh #Brexit fallout. http://bloom.bg/290ApFt
#Brexit will unleash as much as $300bn of selling by automated quant programs http://bloom.bg/29aOFrb
JPM Head Quant: Expect Up To $300 Billion In Program Selling, "5-10% Near-Term Downside To The S&P500" http://www.zerohedge.com/news/2016-06-26/jpm-head-quant-expect-300-billion-program-selling-5-10-near-term-downside-sp500 …
UK Political Situation and Post Brexit Happenings...
David Cameron will not trigger Article 50 at Tuesday's summit: BBG
Labor MPs stating the referendum result should be ignored or calling for a second referendum , should read this. Then have a conversation with Corbyn.
Pretty soon the story of petition for a second referendum will quietly slip beneath the waves & go away.
Kerry before meeting w Italian FM:a country has made a decision, it is a decision that the US had hoped would go the other way, it didn’t.
"Petition For 2nd EU Referendum Under Investigation By Westminster For Fraud" http://www.huffingtonpost.co.uk/entry/second-eu-referendum-petition-investigated-mps-fraud_uk_576fbc52e4b0d2571149c95e … HT @gug89_pace
Sources: Jeremy Corbyn to release a statement within hours saying he will fight on and not be cowed by shadow Cabinet resignations
Corbyn coup: and another one goes - Vernon Coaker, Shadow N Ireland. Now 8 (+1 sacking)
Coup so far: out
Hilary Benn
Heidi Alexander
Gloria de Piero
Ian Murray
Lilian Greenwood
Lucy Powell
Kerry McCarthy
Seema Malhotra
Shadow Education Secretary @LucyMPowell is 5th person to resign from Labour shadow cabinet
http://bbc.in/264XBZu
Scotland's First Minister Nicola Sturgeon has told the BBC that Holyrood could try to block the UK's exit from EU.
Note , next General Election slated for 2020 - but who knows what the future may hold ?
Ian Murray resigns....
De Piero resigns...
Shadow Health Secretary Alexander has resigned.Ian Lucas MP asked Corbyn, to step down as Leader - by open letter.
Last 48 hrs have shown the public's doubts in the political class were well founded. PM & chancellor disappear. Labour self destructs.
Corbyn coup so far: out
Benn
Alexander
De Piero
Murray
Greenwood
Powell
McCarthy
Malhotra
Coaker
Falconer
And more to come
The BBC is saying that up to nine members of the shadow cabinet will resign...
Didn't you just report Germany would offer UK "associate membership"? http://app.handelsblatt.com/politik/brexit-referendum/eu-ohne-grossbritannien-schaeubles-geheimplan-fuer-den-brexit/13783492.html?mwl=ok …
#newsflash told from contacts inside Tory HQ ,Osbourne will be resigning Monday , his leadership bid & position untenable @RadioJonesPippa
Rumors swirling Osborne set to resign .....unconfirmed. Very much FWIW.
Why do I feel whether he "says it " or not , someone will "hear it " ?
Spain Votes...
Results.....
With 66.26% of vote counted: @PPopular (135) @PSOE (90) @ahorapodemos (71) @CiudadanosCs (29) #ELPAIS26J #26J
#Spain
#Spain
With 36.11% of the vote counted: PP (134), PSOE (95), Podemos (69), Ciudadanos (27)
Exit polls - caution , have to see how these match up with official results.
LATEST: Table comparing two exit polls with actual result from December:
https://www.thespainreport.com/articles/780-160626195143-spain-exit-poll-shows-podemos-overtaking-psoe …
Left wing has "potential" to form a Gov't -
understand major political & philosophical divisions exist on left side.
Turnout in Spanish election on course to be lowest since the country entered democracy in late 1970s. People fed up having to vote again.
SPANISH ELECTION TURNOUT AT 6PM LOWEST ON RECORD, GOVT SAYS
IMPORTANT-worst ever evening turnout for a Spanish general election ? Rajoy fatigue ? PSOE fatigue ? How will Podemos do ?
BREAKING: Evening Turnout Slumps Across The Country https://www.thespainreport.com/articles/779-160626120446-spain-2016-general-election-day#611 …
Buenas noticias @politibot : no hagas las maletas todavía.
#26j
"Votes are like cars: as soon as you use them, they lose their value" - the latest El Roto http://ow.ly/9zOG301ysbN #26J #Spain #election
#Spain #election
First participation figures are in for the Spanish general elections. Check them out on our live blog: http://ow.ly/uuKC301DRCm #ELPAIS26J
Biggest lunchtime turnout increases seem to be in interior provinces, central and western, Andalusia.
ANALYSIS: 10 Big Shifts In Local Power In The Country's 65 Most Important Towns & Cities
https://www.thespainreport.com/articles/53-150613191852-spain-s-new-mayors-10-big-shifts-in-local-power-in-the-country-s-65-most-important-towns-cities …
But notice the geographical aspect of turnout. Compare to 2015 local election results:
https://www.thespainreport.com/articles/53-150613191852-spain-s-new-mayors-10-big-shifts-in-local-power-in-the-country-s-65-most-important-towns-cities …
The Spain Report @thespainreport
LIVE BLOG: Two Spain Exit Polls At 8 P.M. https://www.thespainreport.com/articles/779-160626120446-spain-2016-general-election-day#609 …
Lots and lots of things for you to read as we wait for the results later this evening.
https://www.thespainreport.com/articles/779-160626120446-spain-2016-general-election-day#607 …
Updates here all day for you. Exit poll at 8 p.m. Spanish time. Results expected at around 10 p.m..
Those voters on left hoping for change might be emboldened by the outcome of Brexit to vote for Unidos Podemos....
Radicalism or safety first? Spain wavers before vote http://www.thelocal.es/20160625/radicalism-or-the-devil-you-know-spain-wavers-before-vote …
Brexit: fresh calls for Catalan vote on secession from Spain http://www.thelocal.es/20160625/brexit-fresh-calls-for-catalan-referendum-on-independence-from-spain …
Brexit, a sign of anti-elite revolt: analysts http://www.thelocal.es/20160625/brexit-a-sign-of-anti-elite-revolt-analysts …
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