British Pound

Is This Where All Those Companies "Leaving England" Will Go

As companies evaluate whether to depart the UK for France, they may want to consider scenes such as the following showing relentless local protests, now stretching for months, against the much maligned anti-labor reform.

Why The ECB Thinks Brexit Is Not A "Lehman Moment"

"I think indeed the comparison does not apply because the reaction to Lehman as you may recall was that several markets froze... That was not the case this time." Actually... that's not exactly true is it!!

They Are Putting Armed Guards On Food Trucks In Venezuela

We are watching what happens when the economy of a developed nation totally implodes. Could you imagine living in a nation where all this is going on? Most Americans could not even conceive of such a thing. But of course the truth is that up until just recently most Venezuelans could not either. In fact, just a couple years ago Venezuela was one of the most prosperous nations in all of South America... There are all sorts of signs that the thin veneer of civilization that we all take for granted in the United States is starting to crumble as well.

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."

Central Bankers Around The Globle Scramble To Defend Markets: BOE Pledges $345BN; ECB, Others Promise Liquidity

There was a reason why we warned readers two days ago that "The World's Central Bankers Are Gathering At The BIS' Basel Tower Ahead Of The Brexit Result": simply enough, it was to facilitate an immediate response when a worst-cased Brexit vote hit. And that is precisely what has happened today in the aftermath of the historic British decision to exit the EU.  It started, as one would expect, with Mark Carney who said the Bank of England is ready to pump billions of pounds into the financial system as he stands at the front line of Britain’s defense against a Brexit-provoked market crisis.

Is The Market Looking At It Wrong: "Buy US Assets In Case Of Brexit" Says Greg Peters

Nmerous traders have suggested, that Brexit - should Remain indeed be victorious - could be one of the more significant "sell the news" events in recent years. However, an even more interesting hypothesis was proposed by Gregory Peters, senior investment officer at Prudential Fixed Income, who told Reuters on Tuesday that he thinks U.S. stocks and bonds are a "great" buying opportunity if Britain votes to exit the European Union.

Voting Begin: Stocks Surge, Sterling Hits 2016 Highs, Futures Flirt With 2100

On the day voting for the UK referendum finally began, what started off as a trading session with a modest upward bias, promptly turned into a buying orgy in painfully illiquid markets shortly after Europe opened as an influx of buy orders pushed European stocks 2% higher, propelled by cable which was above 1.49 for the first time since December and USDJPY climbing over 1.05 in sympathy, following the release of the final Ipsos Mori poll which showed Remain at 52% to 48% for leave.