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EUROPE
BREXIT
How Brexit will affect
the balance of power in the European Parliament – Europp
The Brexit shock and its
aftershocks – Scott Sumner
What’s next for Eurozone
after Brexit – BlackRock
EU members on Brexit and
implication for UK-EU negotiations – Open Europe
Brexit Monitor: Day 6
after UK's decision to leave the EU – Danske
Bank
Brexit’s Blow To
Globalization – Project
Syndicate
Brexit is not a major
global shock – Lars
Christensen
Will the Real European
Union Please Stand Up? – PIIE
OTHER
The Brexit debacle ended
all discussion on whether German 10-year yields can venture deeper into
negative territory. While it might seem hard to see much downside potential for
long yields from the current very low levels, several factors still suggest
yields could fall further. The outlook is characterized by huge uncertainty. In
this uncertain market environment, one should be prepared for big swings in
both directions.
REGULARS
Some relief on Bremain hopes, USD
weakens, but Bund yields stuck at lows * Chance of "No Brexit"
scenario up to 30% * Market prices BoE cut with over 70% probability by end
2016 *
GBP bounces for the first time since
Brexit vote
Today's session comes in the wake of
both last week's surprise Brexit vote as well as a devastating attack on
Istanbul's Ataturk airport that has left dozens dead and scores injured. Asian
bourses are generally up as is oil and we have a few data points out today
concerning US and EU fundamentals. But uncertainty it seems will remain the
rule.
Euro wrap-up –
Daiwa
Fragile Calm Ahead of Quarter-End
Daily Market
Comment
– Marc
Chandler
The Worst
is Yet to Come - Don't be Seduced by the Price Action
Project Fear...or a fearful
projection?
Cameron blames lack of
emergency brake on migration for referendum loss while Merkel warns there is no
going back now * Hollande warns the City of London will not be able to continue
clearing euros * Central and Eastern European states raise concerns about EU
response to Brexit and the role of the Commission * Sturgeon embarks on negotiations
to “protect Scotland’s relationship with the EU” * Corbyn says he will defy
MPs’ no confidence vote * May and Boris neck and neck in Conservative members’
poll * Javid says UK set to open trade talks with Australia and South Korea * Osborne:
UK may have to continue paying into EU budget and accepting free movement to
protect trade with EU * New polls: French want their own EU referendum, but
would vote to stay in while Germans fear surge in support for populists across
EU * Merkel says there is a clear mandate to continue EU-US free trade
negotiations despite Brexit
Summit wrap — UK Labour
bloodbath continues
Global Stock Surge Continues As
"Investors Look To Central Banks For Support"
A heady rally in
equities yesterday failed to see notable pass-through into currency and fixed
income markets as we continue to mull the next steps after the Brexit-induced
shock.
Risk-on has established
a tentative foothold but the failure yet to follow through indicates the level
of apprehension.
FINNISH
Kunnioittaako
Britannian seuraava pääministeri kansanäänestyksen tulosta? * USA:n ensimmäisen
neljänneksen BKT-kasvua korjattiin ylöspäin * Markkinat ovat rauhoittuneet
Brexit-äänestyksen jäljiltä * USA:sta saadaan tänään lukuja yksityisestä
kulutuksesta sekä inflaatiosta
Soini: Brittien
vaalitulosta kunnioitettava –Suomeen ei äänestystä – Suomen uutiset
Brexit
merkitsee Euroopan unionin epäonnistumista– Vesa
Kanniainen