"Clear As Mud" Brexit Negotiations Officially Begin: Here's What To Expect

Today Britain and the EU officially begin the first day of formal Brexit negotiations, "aiming for a constructive, orderly launch that avoids a noisy clash on the big policy differences over Britain’s exit", according to the FT although the sellside reaction was decidedly less optimistic, as summarized by SocGen's Kit Juckes who in previewing today's events said that he expects "nothing because the UK position is as clear as mud.'

Frontrunning: June 19

  • UK PM May says attack on Muslims near mosque is 'sickening' (Reuters)
  • Macron Under Pressure to Deliver as French Turnout Plummets (BBG)
  • Market Volatility Has Vanished Around the World (WSJ)
  • Real victory will be in 5 years, says Macron camp after election win (Reuters)
  • Brexit Talks Kick Off in Brussels as May Urged to Soften Stance (BBG)

Eric Peters: "Last Week Saw The End Of The QE Era"

"Last week was the end of the QE era. Central banks will turn into net sellers of assets in the coming 2-3 years. Before yesterday’s Fed meeting, everyone assumed that the moment the VIX hits 20, they’ll come to the rescue. And now, no one can be sure."

China's "Ghost Collateral" Arrives In Canada, "Heralding A Crisis"

"We all know that the ghost collateral is a huge deal, and we all know that the shadow banking and other Chinese influence in Vancouver is profound. The issue is that the ghost collateral ends up re-hypothecated and laundered. So by the time it shows up in Vancouver, it will likely just look like a rich Chinese cash buyer with a suitcase of money.“

Global Stocks Jump, Dow Futs At New All Time Highs As Brexit Talks Begin

S&P futures rose 0.3% in subdued trading with Dow Jones futs once again in record territory as European stocks jump 0.6% following Sunday's landslide victory for Macron's party in the French parliamentary elections and as Brexit negotiations are set to officially roll out on Monday.

U.S-Led Coalition Shoots Down Syrian Warplane

"...The General Command of the Army and the Armed Forces, warning of the serious consequences of this blatant attack on counterterrorism efforts,... and exposes the malicious intentions of the United States of America in the management and investment of terrorism to achieve its objectives in passing the American Zionist project in the region."

The Fallacies Of The 'Russia-Truthers'

"The anti-Russia hysteria – now rivaling past Red Scares with Russians hiding under every bed – has led to factual errors in press accounts and has erased standards of political fairness...There seems to be nothing that Trump opponents will not say and no charge, however low, they will not stoop to making as long as it furthers the goal of removing Trump from office."

Stunning Footage Of American's Crumbling Infrastructure

"I was given special access to a behind the scenes view of America’s crumbling infrastructure that the public is not allowed to see. The reasons you’re left out of the know is because it destroys the mainstream narrative that everything is awesome..."

Mueller Has "Not Yet" Decided Whether To Investigate Trump: ABC

"Now, my sources are telling me he's begun some preliminary planning," ABC News senior justice correspondent Pierre Thomas said of Mueller who "plans to talk to some people in the administration. But he's not yet made that momentous decision to go for a full-scale investigation."