Capital Flight Chaos - Safe Havens Are Tiny Markets

There's a preponderance of data that shows the world's major asset markets are dangerously overvalued. And when these asset bubbles start to burst, the 'save haven' markets that investment capital will try to flee to are ridiculously small. Investors who do not start moving their capital in advance of crisis will be forced to pay much higher prices for safety -- or may find they can't get into these haven assets at any price...

"Trying To Wash Away Her Bad Judgement?" - Clinton Attacks Trump Following Brexit Results

Aside from the millions of UK voters who chose to regain sovereignty last week, one of the biggest winners of the Brexit vote is potentially Donald Trump. Trump's rise in popularity is in no small part due to the fact that people in the US are tired of the status quo, politics as usual nonsense, and Trump allows for an outlet to that sentiment. Well aware of this fact, and presumably concerned that Trump would be able to capitalize on the Brexit vote, the Clinton campaign is trying desperately to get past the fact that Hillary was on the wrong side of the vote as quickly as possible.

A Tale Of Two Asset Classes: Gold Miners Soar, Banks Crash

"...that’s credit bubble thinking. Banks are dominant forces in an economy only when that economy is creating an unhealthy amount of credit. When the process exhausts itself the banks tank, and terrified capital flows back into “primitive” safe havens. Like Friday..."

Brits Lead Revolt Against Age Of Inequality, BofAML Favors "Gold, Vol, & Cash Positions"

Brexit is the biggest electorate riposte yet to The Age Of Inequality created by policymakers to save (some) of the world, and as BofAML's Michael Hartnett warns, investors must anticipate a shift to an increasingly populist policy response. The backdrop of Quantitative Failure nonetheless means a renewed bull market in risk assets is impossible unless fiscal policy can quickly arrest the downside in GDP & EPS forecasts.

UBS CIO Warns "The Status Quo Is Over... Get Used To It"

"The status quo in Europe is over. We will have to get used to this. Political risk has risen, and we will be dependent on central bank interventions, the calmness of markets, and measured political decision-making to keep the world's economic growth momentum and thus support risk assets."

Scotland Threatens To Veto Brexit

Earlier today Scotland's First Minister Nicola Sturgeon told the BBC that the Scottish Parliament could try to block the UK's exit from the EU. As we predicted yesterday, the Scottish National Party leader, who went through her own UK independence referendum  two years ago and is now considering yet another referendum, said that "of course" she would ask MSPs to refuse to give their "legislative consent".