Markets & Market Moving News....
CCC High Yield Bond Index at an 11-month high, up 34% from its Feb low.
European High Yield Bond Index at new all-time highs. Rally in credit over past few months has been a global event.
New 52-week low in yields today in:
Germany
Austria
Denmark
France
Belgium
South Korea
Australia
New Zealand
Russia
Global Equities:
68% above their 200-day MA
59% positive YTD
+2.7% median YTD return
-8.6% median below 52-week high
Crude Oil up 92% in the past 80 trading days. Only Jun-Oct 1990 and Feb-Jun 2009 saw larger 80-day gains. $CL_F
Brexit......
5 Items each from Cameron & Farage ......
Cameron: We can certainly survive outside the EU, the question is how we thrive. Economic consensus is we're better off in #ITVEURef
Cameron: Less access to EU market means fewer jobs. Forecasts not always correct but extent of consensus impressive #ITVEURef
Cameron: Good ways and bad ways of controlling migration, pulling out of single market would damage our economy #ITVEURef
Cameron: No way for 5th largest economy to go to be locked out of decisions affecting our biggest market #ITVEURef
Cameron: Changes to benefit access was key demand in renegotiation and now no full access for new migrants for 4 years #ITVEURef
Farage: Experts all wrong on ERM, wrong on Euro now wrong on EU. In some cases directly funded by EU #ITVEURef
Farage: Trade with EU only worth 12% of our GDP, we have a massive domestic economy #ITVEURef
Farage: We're British, after we vote to leave we won't be bullied by likes of Juncker! #ITVEURef
Farage on free movement and impact on wages: Time to stop just thinking about GDP figures and think about less well off in society #
Farage: US sells more into EU market than we do and they don't have to accept free movement #ITVEURef
Cameron challenged to debate Gove & Johnson...
Capital is not fleeing UK because of the referendum. Myth busting...
Voters set to defy Labor leadership...
Greece......
Gov't edges closer to bailout funds after signing Elliniko deal http://dlvr.it/LVs1Bl
Taxpayers’ debts to the state keep piling up http://dlvr.it/LVs1m0
Rulings back 35 migrants appealing deportation http://dlvr.it/LVs1QL
If the Refugee Deal Crumbles, There Will Be Hell to Pay http://gettopical.com/greece/a6b362666470553644be615c91e90576?src=twitter … via @ForeignPolicy
Laying out four open issues and steps required to release tranche payment at issue.
Greece latest tranche payment may come near end of June - 7.5BN
Refugee/migrant/asylum seeking in Greece now more than 57,000....
Odds & Ends.....
Ankara to EU: No visa-free travel, no readmission agreement
http://sabahdai.ly/rcPPaq
Activists claim '300 civilians executed' by Iraqi militias during Fallujah fighting http://ow.ly/6g99301025l
Probably not what he expected...
French Open apparently ongoing , tear gas canisters for tennis balls...
Erdogan signs controversial bill lifting immunity for certain members of Parliament , opening door to prosecutions.
Brazil political quagmire of corruption about to get even murkier as Prosecutor mulls more "Carwash" arrests...
Chelsea have apologised "unreservedly" to Eva Carneiro, who has settled her dismissal claim
http://trib.al/iIaKJHt
LeBron wavering on Rio ?
Perfectly understanding Guthrie will skip Rio. She's expecting her second child , would be foolish to attend.
Range from High to low over past ten years ( displayed on the chart ) , eye-opening ....
Even before today's Istanbul attack - last 12 months were particularly bloody for Turkey http://www.middleeasteye.net/news/bomb-attack-police-rocks-istanbul-1200284899 …
Another attack on police in Istanbul....
The government fears it will disrupt the Euro 2016 starting Friday-never disrupt soccer
German Constitution Court rules on OMT June21st - Calendar the event.
OUCH! Deutsche Bank slumped to no. 6 in deals involving German firms. http://bloom.bg/1OaZfR5
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