Tuesday, June 28, 2016

Economic News , Data & Views .... June 28 , 2016 ... Quick Hits .... 1. Markets & Market Moving News : VIX Whipsaw Continues , Friday Major Spike Reversed By Tuesday's Major Decline ; Low Yield Regimes & NIRP News For Tuesday ; Post Brexit Bounce For Equities , Random Walk Around Stocks ; Crude Oil News De Jour. 2. Post - Brexit World News - UK In Focus . 3. Turkey Has Its Latest Terror Attack - At Least 50 Killed At Ataturk Airport. 4. Odds & Ends .


( Asia Updates )


Is it still the BOJ's goal to lower interest rates? Because that 0.1% on the 40 Year is really crushing the economy

GBPUSD < 1.33. No Kuroda to the rescue?

Volatility Index: -21% today, 9th largest decline in history. Last Friday it jumped 49%, 5th largest spike.

"I will not stop until Bilello's yield matrix has only one color: red. Whatever it takes." - Mario Draghi

Negative 8-yr yield club (Swiss/Japan/Germany/Austria/Netherlands) welcomes 3 new members: Finland, Belgium, France

S&P sees eventually cut rates more deeply into negative terrain.

Friday was 400 calendar days since the S&P 500 hit a new 52-week high. This has happened only 19 times since 1929.

big rally in stox but 2-10yr curve still at +84bps ...... thats your canary in coal mine on growth

Rebound in Europe & bounce in US futures , based on hope for more global coordinated CB interventions. G.L.W.T.

Crude draw -3.860MM, Last -5.224MM Cushing -1.207MM, Last -1.311MM Gasoline: -416K, Last -1.472MM Distillate: -832K, Last -1.699MM

Good summary from about limited impact of on markets (Brent is up 2% today, after yesterday drop)

Post Brexit News For Tuesday

"I am sad" - Cameron "You are out" - Juncker The story of an emotional farewell. 👻😢

Brexit could spell the beginning of the end for English as an accepted language for the EU

NEW: to challenge Jeremy Corbyn if he does not resign. Most likely to happen tomorrow

This chart shows why Merkel&Co may only talk tough. UK biggest EU export destination (viaAP)

Boris and May Neck and Neck in Members Poll:

Sky Sources: President of the European Council has turned down a meeting with Scotland's First Minister

Breaking - Scottish Labour leader, Kezia Dugdale, says 'if I had lost support of 80pc of my MSPs I could not do my job'

My proposal for a NExit referendum was rejected today. Dutch get a 2nd chance on March 15, 2017, the day of our next general elections!

S&P: No Intention To Downgrade Any EU Country In Relation To Brexit - BBG


Xavier Bettel PM of Luxembourg: Article 50 has to be triggered by the British gov't.

Xavier Bettle: Britain decided for divorce, so it will be divorce.

Left Party leader joins crowd of Opposition leaders , in various European countries , calling for a referendum.

An interesting piece to consider today...

Hmm , looks like things are proceeding swimmingly, on the political front , between UK & EU.

Merkel and Michel might want to calm down Juncker...

Juncker says he has imposed a Presidential Ban on all contact between EU officials and UK officials until Art 50.


So , as per Alex Salmond , Scotland apparently can't block Brexit..

Great climate for negotiations....

Ataturk Airport Terror Attack ...

Breaking News: Official: Up to 50 dead in Ataturk Airport attack.

Ataturk attack could be last straw for Erdogan regarding PKK & YPG.

Note gag order in place , so expect wide divergences in reporting for awhile..

The all to frequently seen video footage of a terror attack -Ataturk Airport. 20 dead , one hundred wounded..

Odds & Ends....

Rutte to see "legally binding" assurances re : EU Deal with Ukraine & said The Hague would block it otherwise.

Despite , no vote , PM Rutte prepared to move ahead anyway...

IS Syria stronghold Raqqa next after Manbij operation is completed: U.S. official

From now on, no free trade agreement must be concluded if it doesn’t respect the EU’s interests....

Sounds like Venezuela can't pay back those loans from China and has no more gold as collateral....

VW to settle emissions scandal for 15billion...