Satyajit Das: What Does Brexit Really Signify?

History may well record that little changed as a result of Brexit after the long tortured process of negotiation of the terms of withdrawal and arrangements regarding trade and other matters with the EU. But, if the deep seated economic and social divisions within Britain or other societies cannot be dealt with peacefully and through existing processes, the risk is that it will unleash the furies of nationalism and isolationism in unknown ways and with unpredictable results.

 

Live Feed From London Anti-Brexit Protest

It was bound to happen: just days after a shocking Brexit outcome which was arguably lost due to the low participation of the pro-Remain, youth vote today the same youth, unhappy with the outcome it could have prevented, has congregated on London's Trafalgar square which is the venue of the first, so far completely peaceful, anti-Brexit protest to hit London.

Odey Makes 21% In Past 2 Days, Nearly Wiping Out Abysmal Start To The Year

After a truly hair-raising first half to 2016, if not so much for billionaire Odey as for his LPs, he appears to have finally hit a home run with Brexit. According to  Bloomberg, Odey's "winning run continued with the flagship Fund up 21% in just two days." The days in question: Friday and Monday, when the market's reaction to the Brexit vote was nothing short of surreal

Clinton Slams Benghazi Report As "Discredited, Conspiracy Theories"

"In refusing to issue its report on a bipartisan basis, the Committee is breaking from the precedent set by other Congressional inquiries into the Benghazi attacks. And in leaking out select portions from their report in the middle of the night, without even allowing some of the Committee's own members to see it, Republican members are clearly seeking to avoid any fact-checking of their discredited, conspiracy theories."

After Brexit, A Trump Path To Victory

The English wish to remain who they are, and they do not want their country to become, in Theodore Roosevelt’s phrase, “a polyglot boarding house” for the world. From patriots of all nations, congratulations are in order. It will all begin to unravel now, over there, and soon over here.

Bank of America: "If You Are Going To Panic, Panic Early"

"While globalization, immigration and the free market have strong support from the winners of these themes – the plutonomists and the highly educated, in our view they seem to have underestimated the frustration of developed market middle and working classes... We suspect that few will pay attention to these tectonic shifts – it will require more Brexit-type surprises for the message to sink in."

European Dead-Cat-Bounce Dies - Big Banks End Lower

Well that didn't last long. With hopes of a face-ripping ride higher this morning as Draghi jawboning lifted bank stocks and Cable, the bounce was nothing but an opportunity for sellers to escape at better prices. While Deutsche eked out a tiny gain, RBS, Unicredit, Credit Suisse, and UBS all tumbled to end the day red...

UK Labour Party Leader Corbyn Loses Vote Of No Confidence

Following the resignation of more than 20 members of his shadow cabinet, UK Labour Party Leader Jeremy Corbyn has just lost a vote of no confidence by a vote of 176 to 40. Despite his previous statement that he is "not going anywhere" we suspect this will lead to a formal leadership challenge. Notably Cable is weakening on the news as yet another level of uncertainty hits The UK.

When It Comes To The US Economy, The Age Divide Has Never Been Wider

Despite a rise in headline consumer confidence, there are increasingly gaping divergences between various cohorts that suggest all is not well in America. Regionally, Pacific 'confidence' has surged while New England has plunged. Plans to buy a car or a major appliance or a home all dropped, with the latter at its lowest in 10 months. But most worrisome is the record divide between 'young' and 'old' Americans confidence in the US economy...

Richmond Fed Dead-Cat-Bounce Crashes To 3-Year Lows

With the biggest miss in two years, Richmond Fed collapsed to -7 (lowest since Jan 2013) from March's 22 print (six year highs). The farcical flip-flop leaves the average workweek plunging into contraction, number of employees dropping, New Order volume crashing, and worse still, future expectations of hisring and work week is plunging.