Apple

Global Stocks Soar, Pound Surges Most Since 2008 As Brexit Odds Tumble

Global equities rallied and the pound strengthened the most since 2008, soaring by 300 pips since the Friday close as polls signaled the campaign for the U.K to stay in the European Union was gaining momentum. Haven assets including the yen, U.S. Treasuries and gold slumped. The Stoxx Europe 600 Index surged by the most since February as the MSCI Asia Pacific Index advanced with S&P 500 futures.  Haven assets including the yen, U.S. Treasuries and gold slumped.

Beijing Orders Apple To Stop Sales Of iPhone 6 Models

Apple has been told by Beijing's intellectual property regulator to stop sales of the iPhone 6 and iPhone 6 Plus in the city. The two iPhone models infringe on a Chinese patent for exterior design held by Shenzhen Baili for its 100C smartphone, the Beijing Intellectual Property Bureau wrote in a statement on its website

Global Stocks Rebound As Brexit Odds Decline Following Tragic Death Of UK Lawmaker

While it may very well not last and all of yesterday's gains could evaporate instantly if the Brexit vote is set to take place as scheduled, all 10 industry groups in the MSCI All-Country World Index advanced, with the index rising 0.7% trimming the week’s drop 1.6%. The Stoxx Europe 600 Index rose 1.4%. Futures on the S&P 500 were little changed, after equities Thursday snapped their longest losing streak since February. . Oil rose, paring its biggest weekly decline in more than two months. Bond yields around the globe fell.

"The Politics Of Fairness Have Created The Economics Of Hopelessness"

"We’re following the European model which is to maintain the status quo: Don’t let competition damage or disrupt existing businesses. The politics of fairness create anti competitiveness...What we really need is the politics of hope: Let’s figure out how to make it easier to start a business."

Frontrunning: June 14

  • German 10-Year Government Bond Yields Dip Below Zero for First Time (WSJ)
  • U.K. Moves Closer to Brexit as The Sun Backs ‘Leave’ Vote (BBG)
  • Global Stock Selloff Deepens as Investors Seek Safer Assets (WSJ)
  • Futures tread lower for fourth day; Fed meet awaited (Reuters)
  • Oil falls as Brexit threat rattles markets (Reuters)

Soaring Brexit Fears Spark Global Flight To Safety, Send 10 Year Bunds Tumbling Below 0%

The UK EU referendum is suddenly totally dominant in financial markets. The increased focus comes as the leave campaign has gathered steam as 4 polls yesterday afternoon/evening put the 'leave' campaign ahead. As a result of the continued global scramble for safety, German 10Y bunds finally dropped below 0% for the first time ever, while global risk assets are red around the globe.

Apple 2016 iPhone Sales To Fall For The First Time Due To "Lukewarm Demand", Shipments To Drop 8.6%

Moments ago Japan's Nikkei warned that Apple will see the first annual decline in iPhone shipments this year since the smartphone's debut in 2007 "due to lukewarm demand for a new model, people familiar with the matter told Nikkei Asian Review." As Nikkei reports citing a person at a major supplier, overall iPhone shipments will total 210 to 220 million this year, falling as much as 8.6% from 2015.

Key Events In The Coming Busy Week

This week, the market's attention will be mostly focused on this week's two key central bank meetings, namely the Fed on Wednesday and the BOJ on Thursday, although there is a full calendar of economic events also on deck.

Futures Slide On Rising Dollar As Global Bond Yields Hit Fresh Record Lows

Please do not adjust your screens: that off-green color you are seeing, that is not a malfunction. Yes, for the first time in six days, global stocks are lower with the MSCI all-country world index dipping from a 6 month high dragged down by lower European and Japanese equity markets, as the USDJPY dropped to a fresh five-week low while Treasury yields continued to hit new record lows because, as Bloomberg explains, "traders assessed the outlook for the global economy."

Grasshopper Nation: Planning For Those Who Aren't Prepared

The rift between the preparedness-minded and those not is age-old. Humans aren't wired well to respond to future risk that isn't visible as an immediate threat. And temperamentally, we prefer good news over bad, so we seek to overweight the former and discount the latter. Who wants to stress out about what "might" happen tomorrow, anyways -- can't we just enjoy life today? But to fail to plan for the needs of the unprepared is, in itself, a plan to fail. After all: it's a grasshopper nation, and we ants are too few.

"What If?"

Here are five market counterfactuals – “What ifs” – all anchored in a prior reality: where the world was 155 days ago, at the end of 2015; to both illustrate why large cap U.S. equities just closed near their highest levels of 2016 and consider the conventional wisdom about whether the current rally is sustainable.

Meet Ability Inc – The Israeli Company That Wants To Hack Your Cellphone

With just a few million dollars and a phone number, you can snoop on any call or text that phone makes – no matter where you are or where the device is located. That’s the bold claim of Israel’s Ability Inc, which offers its set of bleeding-edge spy tools to governments the world over. And it’s plotting to flog its kit to American cops in the coming months.

Frontrunning: June 2

  • Global stocks struggle as ECB and OPEC meetings loom (Reuters)
  • Iran Resists Saudi Gesture for Unity as OPEC Fractures Reappear (BBG)
  • Clinton to blast Trump on North Korea, NATO in foreign policy speech (Reuters)
  • Hillary Clinton Shifts to California as Race Tightens There (WSJ)
  • Puerto Rico’s U.S. Rescue Won’t Come Soon Enough to Halt Default (BBG)