Barclays

Germany Says "We Won't Let Anyone Take Europe From Us"

German Foreign Minister Frank-Walter Steinmeier said today that the EU would weather the shock of the British vote to leave the union as he convened crisis talks. "I am confident that these countries can also send a message that we won't let anyone take Europe from us," he said heading into a meeting in Berlin of his counterparts from the EU's six founding members.

Brexit: All The Latest News, What Happens Next And How To Trade It

Sterling drops, banking stocks tumble and peripheral EGB and credit spreads widen after the U.K.’s vote to leave the EU; verbal and direct intervention by central banks help currencies off earlier lows. U.K. PM David Cameron has resigned, announcing there needs to be a new prime minister in place by October.

As Of This Moment, Barclays Is Not Accepting FX Stop Loss Orders

"Both Barclays Electronic Trading Desk and Barclays Voice Spot Trading Desk will endeavour to operate as close to normal levels of service as the Disrupted Market Conditions allow.  However, taking into account the potential Disrupted Market Conditions during the EU Referendum Period, Barclays has decided to impose certain restrictions on its electronic and voice FX Stop Loss order offering during this period and would like to highlight certain matters with respect to Disrupted Market Conditions."

Analyst Slams Tesla's Bid For SolarCity: "This Proposed Acquisition Suggests SCTY Is Worth Little Value"

"we curiously wonder out loud: if Tesla can acquire SolarCity, amid what we believe are signs of an existential crisis, then – if TSLA were to ever get into trouble – could taxpayers possibly be on the hook (i.e., could SpaceX, funded by US taxpayers, follow the same dubious corp. governance norms exhibited by TSLA/SCTY & bail out TSLA)? While we have neither the answer, nor the legal savvy, we do believe this proposed acquisition suggests SCTY is worth little value"

Stocks, Sterling Rise As "Brexit" Fears Forgotten; Dollar Drops Ahead Of Yellen Speech

Tuesday's overnight price action has been a continuation of yesterday's Brexit relief rally, as investors focused on the two latest polls favorable to Remain in Thursday's referendum (while ignoring the YouGov poll which gave Leave a small lead), and hoping the doom and gloom by George Soros will convince the undecideds to vote against Leaving. As a result, global stocks continued their advance while pound extending the biggest rally since 2008.

Sprott Money's picture

As you know, gold has been on a tear in 2016 as investors and traders around the globe have profited form being long. You would think that some of the "smartest" and "best-connected" traders in the world - those on Bullion Bank trading desks - would have profited from this 20% move as well. However, if you think that, you're dead wrong.

Here Is Why Barclays Sees An Elevated Risk Of Recession Within 12 Months

Even when the energy sector gets excluded from Barclays forward-looking employment growth estimates, if labor is the indicator used to determine when the US will enter a recession, look for a recession to hit in mid-2017. Then again, maybe May's jobs number will be magically revised up to the average, and NIRP will start generating real economic demand, and all will be right in the world - we'll go with the former.

Frontrunning: June 17

  • Sell-off abates as Brexit opinion seen shifting (Reuters)
  • IMF chief Lagarde says economic risks bigger if Britain leaves EU (Reuters)
  • U.S. State Department Officials Call for Strikes Against Syria’s Assad (WSJ)
  • St. Louis Fed's Bullard says U.S. may only need single rate hike for now (Reuters)
  • A Life of Violent Threats Paved Way for Orlando Attack (WSJ)

Terrorism As Pretext For Intervention In Middle East

This contradiction speaks volumes about the sheer hypocrisy and double standards of the Western powers: that, when it comes to securing 265 billion barrels of Saudi oil reserves and 100 billion barrels, each, of UAE and Kuwait that together constitutes 465 billion barrels, i.e. one-third of the world’s proven crude oil reserves, they are willing to overlook the excesses that have been committed by such Medieval regimes but when it comes to negotiating with the Islamist insurgents to reach political settlements and to let up on all the violence and spilling of blood in the region, they stand firm against the so-called “terrorists” as a matter of principle. Why do the Western powers overlook the excesses committed by Saudi Arabia where Shari’a is the law of the land and Hudood-style executions are an everyday occurrence?

These Are The Banks That Would Be Hardest Hit In The Event Of A Brexit

The problems that UK banks will encounter would be twofold: they would potentially lose access to European markets; and the next wave of concern would be presumably a weaker pound accompanied by higher interest rates - the latter hurting those who are already highly indebted. With Brexit odds at an all-time high, here is a succinct overview of the banks that would be the most affected should the UK vote to leave.

Frontrunning: June 15

  • Osborne Warns of Brexit Tax Toll as ‘Leave’ Gains in Polls (BBG)
  • Clinton wins D.C. primary, has 'positive' meeting with Sanders (Reuters)
  • Federal grand jury could charge wife of Orlando shooter (Reuters)
  • Brexiteers swiftly closing in on Remain as poll reveals there’s just one point between the two sides (Sun)
  • Trump gains slightly on Clinton after Florida attack: Reuters/Ipsos poll (Reuters)

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)