Wednesday, June 29, 2016

Economic News , Data & Views ..... Wednesday June 29 , 2016..... 1. Markets & Market Moving News : VIX Now Has Fallen 30% In Past Two Trading Days ; Fed Stress Test Results Out - 31 of 33 Banks Fail , Deutsche Bank & Santander US Units Fail , MS Gets Conditional Approval But Still Has Work To Do ; Various Banks Announce Buybacks & Dividend Boosts After Fed Stress Test Results Released ; FTSE 100 Erases & Dow Jones Almost Erases Brexit Losses ; Bank Stocks In Europe Really Have Been The Big Losers Post Brexit 2. Brexit , Post Brexit & UK Political News . 3. Greece News De Jour . 4. Ataturk Attack Updates. 5. Odds & Ends.


Volatility Index: -30% in the past 2 trading days, the 5th largest 2-day decline in history.

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31 of 33 Banks pass . MS still has work to do...

Announcements so far

Deutsche Bank and Santander US units have failed US stress tests. (BBG)

Here we go again: Dow Jones has recovered almost all the losses after 2day rally.

All of the irresponsible fear-mongering pundits saying a short-term decline in the stock market means "Brexit is bad" are very quiet today.

The UK Stock Market (FTSE 100) just crossed above pre-Brexit vote levels from last Thursday. Brexit = Bullish

IMF: "Deutsche Bank Poses The Greatest Risk To The Global Financial System"

's Constancio: Restoring confidence in banks priority. Banks worst sector this yr w/ Deutsche down 44%

Germany is right. Bail-in rules apply to Italy too.



$11.7 Trillion of negative yielding bonds are now worth more than all the gold mined in history $7.2 Trillion (170k tonnes x $43m per tonne)

After , more than $11T in global bonds are trading at negative yields.

Brexit & Post Brexit & UK Politics...

Pressure building on Corbyn...

Probably will be one of the more important talks for Carney.......

Article 50 not triggered yet, but EU-27 de facto already set out its negotiating position. Pretty strong one.

Very interesting. ..

As expected , big 4 unions line up solidly behind Corbyn...

Exclusive: Labour MEPs call for Corbyn to resign.

79% of Irish are against EU punishing UK after (Red C poll on behalf of EUD)

BREAKING: Most EU member states rejected talks with Scotland at summit

Hardball from EU 27. Merkel, Hollande, Tusk, Juncker, joint statement all agree no freedom of movement, no single market after Brexit

Civil service was repeatedly used to support Remain campaign; not to make contingency plans. Deeply irresponsible.

Greece ....

Piraeus port deal hits snag as Cosco says Athens changed deal

Unionists plan to block sale of grid operator

Dijsselbloem leaves Athens with no room for maneuvering

approves prolongation of bank guarantee scheme until year-end 2016.

Ataturk Attack & ISIS....

Interesting piece theorizing on motivation for terror attack attributed to ISIS

If Turkey allegedly was a "friend" to ISIS previously , relationship has clearly slid off the rails. Blowback now.

37 out of 41 victims of the have been identified; 239 ppl have been injured

10 foreigners & 3 dual citizens were among the victims of the - local gov't

Odds & Ends....

Yeah , this really isn't from "The Onion" , Mad Magazine or Cracked .....

Ah , some of the post-Brexit vote decisions are being taken and announced...

A new era for Puerto Rico begins. US Senate invokes cloture on 68-32

Governor of Puerto Rico says Gov't will default on July 1..

EXCLUSIVE: Grain Trader Nidera Discloses $200 Million ‘Rogue Trader’ Loss with

Nidera plunges in 2015 into its first annual loss due to rogue trader hit ($135m loss last year compared with profit of $42.9m in 2014)

Trump is really making head scratching moves ....

Rio has slashed budgets , including police-Helicopters grounded & > 50% of police cars idled to save gas expense.

Rio Olympics protesters