May’s Resignation means Brexit is Back to Square One

One word perfectly sums up the events of this week. Disappointing.  For some it began with the uninspiring conclusion of Game of Thrones, long-term stock investors grimaced at the lack of progress with the US-China trade war, and FX traders will see the British pound remain in limbo after Prime Minister May admitted defeat in […]

Pound rally limited on Brexit Redo

The long drawn out process for Theresa May to resign is over.  PM May’s emotional speech at the doorsteps of 10 Downing Street delivered the news she will step down on June 7th.  After three failed Brexit deal votes in Parliament and a fourth pitch that was dead on arrival, May had no choice but to resign. May’s […]

China plays hardball; no more talks unless US changes tactics

European and Chinese stocks markets are selling off from critical comments from Beijing that put a dent in trade talk optimism.  Flight to safety is the early morning theme and we may see that continue if we see softer Michigan sentiment and leading index data just after the open.  Safe-haven currencies, the Japanese yen and Swiss franc […]

Stocks & Treasury Yields Rally on Strong Earnings and US Data

Back-to-back robust earnings results from Cisco and Walmart delivered a nice dose of risk appetite for global equities, which saw Treasuries slide, while the dollar delivered broad gains against all of their major trading partner.  Oil prices remained supported on geopolitical risks, while gold sold off alongside other safe-haven assets. Earlier in NY, US housing data […]