Today's BREXIT BARRAGE... Vampires, Ghosts and Brexit...?
FT: EU leaders agree to six-month Brexit delay
FT: Macron plays bad cop to Merkel’s good cop on Brexit
FT: Theresa May feels the strain as her Brexit agony is extended
FT: May ditches plan to bring Brexit bill back to Commons
TEL: EU delays Brexit date to Halloween – with review in June – on bruising night in Brussels
TEL: Theresa May refuses to apologise over delay – and points finger at MPs for blocking deal
TEL: With poll ratings as bad as John Major, the PM risks leading the Tories into electoral oblivion
TEL: Grovelling Britain has officially surrendered to a triumphant EU
TEL: Brexit is a black hole which neither Theresa May nor European leaders can escape
BBG: Brexit Delayed to End of October as Macron Plays Hardball
BBG: Macron Gets on Everyone’s Nerves With Brexit Hard Man Act
BBG: There Are Better Ways to Do Democracy
BBG: Expert on Reversing Referendums Says Brexit Can Also Be Stopped
BBG: Theresa May Drags Europe Into Brexit’s Quicksand
BBG: Brexit Delay Gives the U.K. Financial Markets a Reprieve
BBG: House Prices in London, Southeast U.K. Forecast to Keep Falling
BBC: Brexit: Trick or Treat? 31 October Halloween deadline is both
BBC: May: ‘The UK should have left the EU by now’
BBC: Tusk ‘Please do not waste this time’
More to come!
Mark
image009.jpg@01D28D1B.42BD95C0">
Mark Funsch
O: +44 (0) 203 - 143 - 4177
M: +44 (0) 789 - 996 - 4051
UK: 14-16 Dowgate Hill, London UK EC4R 2SU
US: 245 Park Ave, 39th Floor, NY, NY, 10167
This research was prepared by Mark Funsch. He is a consultant with Astor Ridge. A history of his marketing commentaries can be provided upon request in compliance with the European Commission’s Market Abuse Regulation. Astor Ridge takes no proprietary trading risk, has no market making facilities, and has no position in any security we discuss in this e-mail. The views in this e-mail are those of the author(s) and are subject to change, and Astor Ridge has no obligation to update its opinions or the information in this publication. If this e-mail contains recommendations, those recommendations reflect solely and exclusively those of the author, and such opinions were prepared independently of any other interests, including those of Astor Ridge and/or its affiliates. This publication does not constitute personal investment advice or take into account the individual financial circumstances or objectives of the clients who receive it. The securities discussed herein may not be suitable for all investors. Astor Ridge recommends that investors independently evaluate each issuer, security or instrument discussed herein, and consult any independent advisors they believe necessary. The value of and income from any investment may fluctuate from day to day as a result of changes in relevant economic markets (including changes in market liquidity). The information herein is not intended to predict actual results, which may differ substantially from those reflected. Past performance is not necessarily indicative of future results.
You should not use or disclose to any other person the contents of this e-mail or its attachments (if any), nor take copies. This e-mail is not a representation or warranty and is not intended nor should it be taken to create any legal relations, contractual or otherwise. This e-mail and any files transmitted with it are confidential, may be legally privileged, and are for the sole use of the intended recipient. Copyright in this e-mail and any accompanying document created by Astor Ridge LLP is owned by Astor Ridge LLP.
Astor Ridge LLP is regulated by the Financial Conduct Authority (FCA): Registration Number 579287
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MULTI ASSET UPDATE POST QUARTER END RECAP. A KEY WEEK, NEED BOND YIELDS AND STOCKS LOWER.
MULTI ASSET UPDATE : NEW QUARTER UPDATE.
WHATS CHANGED :
BOND YIELDS ITS ALL ABOUT MAINTAINING MOMENTUM LOWER THIS WEEK, THAT SAID IT WILL BE MORE ABOUT THE CLOSES NOT INTRADAY. ALL DAILY US YIELD CHART ARE FAILING 38.2% RETRACEMENT LEVELS.
US CURVES CONTINUE TO SEE THE PERFORMANCE SHIFT MORE TO THE FRONT END.
FX WATCH THE EURO AS A SUSTAINTED TIME SUB THE MULTI YEAR 1.1241 RETRACEMENT IS “NOT HEALTHY”. DXY CONTINUESTO PUT IN A LAME PERFORMANCE.
EM FX, THIS CONTINUES TO ENDORSE FURTHER EM STRENGTH CONTINUING, WITH THE EXCEPTION OF TURKEY.
EQUITIES, THESE ARE THE BIGGEST PAIN! THEY CONTINUE TO GRIND HIGHER WHICH IS AT ODDS WITH THE MORE LONGTERM CHARTS. GIVEN EARNINGS SEASON IS UPON US I STILL REMAIN VERY SCEPTICAL ABOUT RESULTS AND FORWARD PROJECTIONS, ITS GOING TO BE A TOUGH YEAR FOR MANY.
OIL IS POISED TO STALL AS GOLD HOLDS.
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Today's BREXIT BARRAGE... Brussels Brawl or Breakthrough?
FT: Britain and EU wrestle with Boris Johnson question
FT: How London banks are trying to dodge Brexit
FT: What is Brexit? (video)
FT: France signals UK could stay in EU for almost another year
BBC: Theresa May to make plea for 30 June delay at EU summit
TEL: Tusk recommends EU insist on year-long Brexit extension after MPs vote for June 30 delay
TEL: Philip Hammond suggests MPs could revoke Article 50 to prevent no deal sinking the value of pound
TEL: There is still time to change tack and secure a better deal from the EU
TEL: Will the last one out of the Tory party please turn off the Maybot
TEL: The ‘deep state’ was never going to allow a no-deal Brexit to happen
BBG: EU Set to Force U.K. Into Long Brexit Delay in Danger for Theresa May
BBG: A Long Brexit Delay Could Shorten the Time Left for Theresa May
BBG: EU Calls for Long Delay as Labour Talks Pause: Brexit Update
BBG: Brexit Bulletin: The Day of Delay
Enjoy!
Mark
image009.jpg@01D28D1B.42BD95C0">
Mark Funsch
O: +44 (0) 203 - 143 - 4177
M: +44 (0) 789 - 996 - 4051
UK: 14-16 Dowgate Hill, London UK EC4R 2SU
US: 245 Park Ave, 39th Floor, NY, NY, 10167
This research was prepared by Mark Funsch. He is a consultant with Astor Ridge. A history of his marketing commentaries can be provided upon request in compliance with the European Commission’s Market Abuse Regulation. Astor Ridge takes no proprietary trading risk, has no market making facilities, and has no position in any security we discuss in this e-mail. The views in this e-mail are those of the author(s) and are subject to change, and Astor Ridge has no obligation to update its opinions or the information in this publication. If this e-mail contains recommendations, those recommendations reflect solely and exclusively those of the author, and such opinions were prepared independently of any other interests, including those of Astor Ridge and/or its affiliates. This publication does not constitute personal investment advice or take into account the individual financial circumstances or objectives of the clients who receive it. The securities discussed herein may not be suitable for all investors. Astor Ridge recommends that investors independently evaluate each issuer, security or instrument discussed herein, and consult any independent advisors they believe necessary. The value of and income from any investment may fluctuate from day to day as a result of changes in relevant economic markets (including changes in market liquidity). The information herein is not intended to predict actual results, which may differ substantially from those reflected. Past performance is not necessarily indicative of future results.
You should not use or disclose to any other person the contents of this e-mail or its attachments (if any), nor take copies. This e-mail is not a representation or warranty and is not intended nor should it be taken to create any legal relations, contractual or otherwise. This e-mail and any files transmitted with it are confidential, may be legally privileged, and are for the sole use of the intended recipient. Copyright in this e-mail and any accompanying document created by Astor Ridge LLP is owned by Astor Ridge LLP.
Astor Ridge LLP is regulated by the Financial Conduct Authority (FCA): Registration Number 579287
Astor Ridge LLP is Registered in England and Wales with Companies House: Registration Number OC372185
Astor Ridge NA LLP is a member of FINRA/SIPC: CRD Number 282626
Astor Ridge NA LLP is a member of the National Futures Association (NFA): Firm ID Number 0499303
Astor Ridge NA LLP is Registered in England and Wales with Companies House: Registration Number OC401796
BOND YIELD (SHORT-TERM) UPDATE : HEADING LOWER STILL. Apologies for this update being so close to yesterdays BUT IT is now or never for yields to FALL therefore a good opportunity (see daily charts)!
BOND YIELD (SHORT-TERM) UPDATE : HEADING LOWER STILL. Apologies for this update being so close to yesterdays BUT IT is now or never for yields to FALL therefore a good opportunity (see daily charts)! Despite the low yields its Germany that is looking to lead the way.
The LONGTERM charts remain unaffected.
**REMEMBER CTAs KEEP buying for their trend-momentum returns irrespective of yield levels.**
The long-term quarterly-monthly charts continue to forecast MUCH lower yields and little obstacles in their path!
On paper the quarterly and monthly charts are obvious, its MUCH lower yields. We are failing MANY RARE 50 and 100 period moving averages aided by RSI dislocations that date back to 1980’s. The formations are staggering given the previous upsets in and around 2000 - 2007.
It seems from a chart perspective everyone is convinced rates are going MUCH HIGHER based on the HISTORICAL RSI dislocations. Expectation and positioning is way too optimistic.
The weekly charts are more optimistic for a HOLD but daily negate that almost instantly.
Daily charts have persisted in remaining sub numerous 200 day moving averages, so ideally its all a matter of time.
Germany and UK also point to lower yields, whilst Italy is pausing at a recent low.
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- • This marketing was prepared by Christopher Williams, a consultant with Astor Ridge. It is not appropriate to characterize this e-mail as independent investment research as referred to in MiFID and that it should be treated as a marketing communication even if it contains a trade recommendation. A history of marketing materials and research reports can be provided upon request in compliance with the European Commission’s Market Abuse Regulation. Astor Ridge takes no proprietary trading risk, has no market making facilities, and has no position in any security we discuss in this e-mail. The views in this e-mail are those of the author(s) and are subject to change, and Astor Ridge has no obligation to update its opinions or the information in this publication. If this e-mail contains opinions or recommendations, those opinions or recommendations reflect solely and exclusively those of the author, and such opinions were prepared independently of any other interests, including those of Astor Ridge and/or its affiliates. This publication does not constitute personal investment advice or take into account the individual financial circumstances or objectives of the those who receive it. The securities discussed herein may not be suitable for all investors. Astor Ridge recommends that investors independently evaluate each issuer, security or instrument discussed herein, and consult any independent advisors they believe necessary. The value of, and income from, any investment may fluctuate from day to day as a result of changes in relevant economic markets (including changes in market liquidity). The information herein is not intended to predict actual results, which may differ substantially from those reflected. Past performance is not necessarily indicative of future results.
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- • You should not use or disclose to any other person the contents of this e-mail or its attachments (if any), nor take copies. This e-mail is not a representation or warranty and is not intended nor should it be taken to create any legal relations, contractual or otherwise. This e-mail and any files transmitted with it are confidential, may be legally privileged, and are for the sole use of the intended recipient. Copyright in this e-mail and any accompanying document created by Astor Ridge LLP is owned by Astor Ridge LLP.
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Today's BREXIT BARRAGE... Persona Non-Grata...
Well, Theresa May has well and truly ripped up the Tory Party Brexit playbook, folks! So much for party-first!
FT: May enrages hardline Brexiters with plans for European elections
FT: The harsh reality of any further Article 50 extension
FT: Why global investors are steering clear of Brexit-battered stocks
FT: Brussels weighs risks of parting shots from Britain
FT: May and Corbyn look for Brexit customs compromise
BBG: Theresa May to Meet Merkel and Macron as Furious Tories Try to Oust Her
BBG: Merkel and Macron Compare Notes to Keep Control of Brexit Talks
BBG: U.K. Consumers Wary of Brexit Hold Off Big Purchases in March
BBG: EU Draws Closer to Deal on Brexit Delay as Core Leaders Plan to Meet
TEL: Michel Barnier urges Theresa May and Jeremy Corbyn to strike deal on a customs union
TEL: Britain split down the middle over preference for no deal of no Brexit, Telegraph poll reveals
TEL: The Prime Minister has a point: a no-deal Brexit could unravel our United Kingdom
TEL: Better no deal or a long Article 50 extension than a customs union cooked up with Labour
More to come!
Mark
image009.jpg@01D28D1B.42BD95C0">
Mark Funsch
O: +44 (0) 203 - 143 - 4177
M: +44 (0) 789 - 996 - 4051
UK: 14-16 Dowgate Hill, London UK EC4R 2SU
US: 245 Park Ave, 39th Floor, NY, NY, 10167
This research was prepared by Mark Funsch. He is a consultant with Astor Ridge. A history of his marketing commentaries can be provided upon request in compliance with the European Commission’s Market Abuse Regulation. Astor Ridge takes no proprietary trading risk, has no market making facilities, and has no position in any security we discuss in this e-mail. The views in this e-mail are those of the author(s) and are subject to change, and Astor Ridge has no obligation to update its opinions or the information in this publication. If this e-mail contains recommendations, those recommendations reflect solely and exclusively those of the author, and such opinions were prepared independently of any other interests, including those of Astor Ridge and/or its affiliates. This publication does not constitute personal investment advice or take into account the individual financial circumstances or objectives of the clients who receive it. The securities discussed herein may not be suitable for all investors. Astor Ridge recommends that investors independently evaluate each issuer, security or instrument discussed herein, and consult any independent advisors they believe necessary. The value of and income from any investment may fluctuate from day to day as a result of changes in relevant economic markets (including changes in market liquidity). The information herein is not intended to predict actual results, which may differ substantially from those reflected. Past performance is not necessarily indicative of future results.
You should not use or disclose to any other person the contents of this e-mail or its attachments (if any), nor take copies. This e-mail is not a representation or warranty and is not intended nor should it be taken to create any legal relations, contractual or otherwise. This e-mail and any files transmitted with it are confidential, may be legally privileged, and are for the sole use of the intended recipient. Copyright in this e-mail and any accompanying document created by Astor Ridge LLP is owned by Astor Ridge LLP.
Astor Ridge LLP is regulated by the Financial Conduct Authority (FCA): Registration Number 579287
Astor Ridge LLP is Registered in England and Wales with Companies House: Registration Number OC372185
Astor Ridge NA LLP is a member of FINRA/SIPC: CRD Number 282626
Astor Ridge NA LLP is a member of the National Futures Association (NFA): Firm ID Number 0499303
Astor Ridge NA LLP is Registered in England and Wales with Companies House: Registration Number OC401796
US CURVES TIME TO FLIP : After some marginal success with BECK END curve failure we await the next move.
US CURVES TIME TO FLIP : After some marginal success with BECK END curve failure we await the next move.
Not yet sure this endorses a directional change in yields, but worth bearing in mind.
I have long advocated US back end steepeners for some time but now it is time to focus on the frontend.
Frontend curves are finally showing signs of basing that JUST as the 5-30 and 10-30 fail MAJOR multiyear resistance.
I think the timing is perfect right now for that switch-fly trade.
The flies themselves have major multiyear dislocations and retracement support.
**A LOT OF THESE CURVE CHARTS HAVE HAD AN AMAZING TECHNICAL PERFORMANCE HENCE THINK ITS WELL WORTH A LOOK AND DISCUSSION.**
**ASIDE THE USUAL FUTURES FLY OUR RESIDENT SWAPS GURU DAVID SANSOM IS WORKING ON SWAPS ALERNATIVES** HAPPY TO DISCUSS ANY IDEAS.
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- • This marketing was prepared by Christopher Williams, a consultant with Astor Ridge. It is not appropriate to characterize this e-mail as independent investment research as referred to in MiFID and that it should be treated as a marketing communication even if it contains a trade recommendation. A history of marketing materials and research reports can be provided upon request in compliance with the European Commission’s Market Abuse Regulation. Astor Ridge takes no proprietary trading risk, has no market making facilities, and has no position in any security we discuss in this e-mail. The views in this e-mail are those of the author(s) and are subject to change, and Astor Ridge has no obligation to update its opinions or the information in this publication. If this e-mail contains opinions or recommendations, those opinions or recommendations reflect solely and exclusively those of the author, and such opinions were prepared independently of any other interests, including those of Astor Ridge and/or its affiliates. This publication does not constitute personal investment advice or take into account the individual financial circumstances or objectives of the those who receive it. The securities discussed herein may not be suitable for all investors. Astor Ridge recommends that investors independently evaluate each issuer, security or instrument discussed herein, and consult any independent advisors they believe necessary. The value of, and income from, any investment may fluctuate from day to day as a result of changes in relevant economic markets (including changes in market liquidity). The information herein is not intended to predict actual results, which may differ substantially from those reflected. Past performance is not necessarily indicative of future results.
- •
- • You should not use or disclose to any other person the contents of this e-mail or its attachments (if any), nor take copies. This e-mail is not a representation or warranty and is not intended nor should it be taken to create any legal relations, contractual or otherwise. This e-mail and any files transmitted with it are confidential, may be legally privileged, and are for the sole use of the intended recipient. Copyright in this e-mail and any accompanying document created by Astor Ridge LLP is owned by Astor Ridge LLP.
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BOND YIELD (SHORT-TERM) UPDATE : HEADING LOWER STILL. Many daily charts saw yields stall last week, thus we are back on track for heading a lot LOWER.
BOND YIELD (SHORT-TERM) UPDATE : HEADING LOWER STILL. Many daily charts saw yields stall last week, thus we are back on track for heading a lot LOWER.
The LONGTERM charts remain unaffected.
The curve rotation was a good FLAG for the yield bounce.
**REMEMBER CTAs KEEP buying for their trend-momentum returns irrespective of yield levels.**
Real money has already been buying EM to lock in more attractive yields, am sure soon to ADD.
The long-term quarterly-monthly charts continue to forecast MUCH lower yields and little obstacles in their path!
On paper the quarterly and monthly charts are obvious, its MUCH lower yields. We are failing MANY RARE 50 and 100 period moving averages aided by RSI dislocations that date back to 1980’s. The formations are staggering given the previous upsets in and around 2000 - 2007.
It seems from a chart perspective everyone is convinced rates are going MUCH HIGHER based on the HISTORICAL RSI dislocations. Expectation and positioning is way too optimistic.
The weekly charts are more optimistic for a HOLD but daily negate that almost instantly.
Daily charts have persisted in remaining sub numerous 200 day moving averages, so ideally it’s all a matter of time.
Germany and UK also point to lower yields, whilst Italy is pausing at a recent low.
ASTOR RIDGE : Independent Ideas, Research, Liquidity, Anonymity and Trusted Experience.
- UK: 14-16 Dowgate Hill, London EC4R 2SU
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- • I provide our research notification below for your convenience:
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- • Research Unbundling:
- •
- • Astor Ridge does not provide independent research. We have no dedicated or paid strategists, research portals, or research subscriptions. However, you may receive unsolicited marketing communications from our Introducing Brokers from time to time, which may refer to specific trade recommendations. These recommendations are based solely on the opinion of the author, and are not official research recommendations of Astor Ridge.We have considered guidance from ESMA, and any written material from our Introducing Brokers that might fall within the scope of the rules will be provided for free, and made publicly available on our website, to any EU Investment firm that registers for it.
- •
- • If you are a MiFID firm and do not agree with our approach, and instead believe that you must pay for written commentary or trade recommendations, then Astor Ridge will accept payments determined by you.
- •
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- •
- • I also direct you to our disclaimer on our email footer:
- • This marketing was prepared by Christopher Williams, a consultant with Astor Ridge. It is not appropriate to characterize this e-mail as independent investment research as referred to in MiFID and that it should be treated as a marketing communication even if it contains a trade recommendation. A history of marketing materials and research reports can be provided upon request in compliance with the European Commission’s Market Abuse Regulation. Astor Ridge takes no proprietary trading risk, has no market making facilities, and has no position in any security we discuss in this e-mail. The views in this e-mail are those of the author(s) and are subject to change, and Astor Ridge has no obligation to update its opinions or the information in this publication. If this e-mail contains opinions or recommendations, those opinions or recommendations reflect solely and exclusively those of the author, and such opinions were prepared independently of any other interests, including those of Astor Ridge and/or its affiliates. This publication does not constitute personal investment advice or take into account the individual financial circumstances or objectives of the those who receive it. The securities discussed herein may not be suitable for all investors. Astor Ridge recommends that investors independently evaluate each issuer, security or instrument discussed herein, and consult any independent advisors they believe necessary. The value of, and income from, any investment may fluctuate from day to day as a result of changes in relevant economic markets (including changes in market liquidity). The information herein is not intended to predict actual results, which may differ substantially from those reflected. Past performance is not necessarily indicative of future results.
- •
- • You should not use or disclose to any other person the contents of this e-mail or its attachments (if any), nor take copies. This e-mail is not a representation or warranty and is not intended nor should it be taken to create any legal relations, contractual or otherwise. This e-mail and any files transmitted with it are confidential, may be legally privileged, and are for the sole use of the intended recipient. Copyright in this e-mail and any accompanying document created by Astor Ridge LLP is owned by Astor Ridge LLP.
- •
- • Astor Ridge LLP is regulated by the Financial Conduct Authority (FCA): Registration Number 579287
- • Astor Ridge LLP is Registered in England and Wales with Companies House: Registration Number OC372185
- • Astor Ridge NA LLP is a member of FINRA/SIPC: CRD Number 282626
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Today's BREXIT BARRAGE... Another Week, Another Deadline...
From the not-so-sublime to the ever-more-ridiculous, we’re embarking on another crisis-week of Brexit futility… We live in hope…
TEL: Labour would revoke Article 50 if alternative is no-deal Brexit, suggests Rebecca Long-Bailey
TEL: Remainers only have days to stop a no-deal Brexit
TEL: We are running out of time to save our Brexit – we must end this standoff
FT: Leaving London: Voices from the financial front lines of Brexit
FT: Macron heads calls to impose tough conditions on Brexit delay
FT: Macron ponders his de Gaulle moment with Brexit
FT: May and Corbyn face their parties’ wrath over Brexit courtship
FT: Cross-party Brexit talks strengthen case for an extension
BBC: ‘Appalling to consider another referendum’ (video)
BBC: I had no choice but to approach Labour – May
BBG: May Aims to Revive Flagging Brexit Talks With Labour’s Corbyn
BBG: May Makes Fresh Appeal as Lawmaker Warns of Brexit Purgatory
BBG: ‘Fed Up’ Hammond Insists Brexit Referendum Must Be Considered
BBG: Remainers, Be Careful What Brexit You Wish For
Stay tuned…
Mark
image009.jpg@01D28D1B.42BD95C0">
Mark Funsch
O: +44 (0) 203 - 143 - 4177
M: +44 (0) 789 - 996 - 4051
UK: 14-16 Dowgate Hill, London UK EC4R 2SU
US: 245 Park Ave, 39th Floor, NY, NY, 10167
This research was prepared by Mark Funsch. He is a consultant with Astor Ridge. A history of his marketing commentaries can be provided upon request in compliance with the European Commission’s Market Abuse Regulation. Astor Ridge takes no proprietary trading risk, has no market making facilities, and has no position in any security we discuss in this e-mail. The views in this e-mail are those of the author(s) and are subject to change, and Astor Ridge has no obligation to update its opinions or the information in this publication. If this e-mail contains recommendations, those recommendations reflect solely and exclusively those of the author, and such opinions were prepared independently of any other interests, including those of Astor Ridge and/or its affiliates. This publication does not constitute personal investment advice or take into account the individual financial circumstances or objectives of the clients who receive it. The securities discussed herein may not be suitable for all investors. Astor Ridge recommends that investors independently evaluate each issuer, security or instrument discussed herein, and consult any independent advisors they believe necessary. The value of and income from any investment may fluctuate from day to day as a result of changes in relevant economic markets (including changes in market liquidity). The information herein is not intended to predict actual results, which may differ substantially from those reflected. Past performance is not necessarily indicative of future results.
You should not use or disclose to any other person the contents of this e-mail or its attachments (if any), nor take copies. This e-mail is not a representation or warranty and is not intended nor should it be taken to create any legal relations, contractual or otherwise. This e-mail and any files transmitted with it are confidential, may be legally privileged, and are for the sole use of the intended recipient. Copyright in this e-mail and any accompanying document created by Astor Ridge LLP is owned by Astor Ridge LLP.
Astor Ridge LLP is regulated by the Financial Conduct Authority (FCA): Registration Number 579287
Astor Ridge LLP is Registered in England and Wales with Companies House: Registration Number OC372185
Astor Ridge NA LLP is a member of FINRA/SIPC: CRD Number 282626
Astor Ridge NA LLP is a member of the National Futures Association (NFA): Firm ID Number 0499303
Astor Ridge NA LLP is Registered in England and Wales with Companies House: Registration Number OC401796
Today's BREXIT BARRAGE... Talk is Cheap...
One step forward, two steps back…?
FT: May’s Brexit talks with Labour make little progress
FT: Counting the economic costs and causes of Brexit
FT: House of Lords attacks bill aimed at preventing no-deal Brexit
BBG: May to Keep Alive the Option of Brexit Deal Referendum
BBG: Unerring Brexit Forecaster Is Now as Confused as Rest of Us
BBG: May and Corbyn Battle With Parties Over Second Brexit Referendum
BBC: EU’s Donald Tusk ‘suggests 12-month flexible delay’
BBC: Germany’s CDU leader hopes for a second referendum
TEL: Theresa May’s Brexit ministers discuss second referendum with Labour
TEL: How a second referendum on Brexit could work: the question , when it could happen and who would win
TEL: Conservatives face ‘obliteration’ at polls over Theresa May’s Brexit talks with Jeremy Corbyn
TEL: Why are supposed ‘progressives’ so unable to foresee economic change?
TEL: Primeval forces are at play in Brexit, and they have engulfed even the Bank of England
Enjoy!
Mark
image009.jpg@01D28D1B.42BD95C0">
Mark Funsch
O: +44 (0) 203 - 143 - 4177
M: +44 (0) 789 - 996 - 4051
UK: 14-16 Dowgate Hill, London UK EC4R 2SU
US: 245 Park Ave, 39th Floor, NY, NY, 10167
This research was prepared by Mark Funsch. He is a consultant with Astor Ridge. A history of his marketing commentaries can be provided upon request in compliance with the European Commission’s Market Abuse Regulation. Astor Ridge takes no proprietary trading risk, has no market making facilities, and has no position in any security we discuss in this e-mail. The views in this e-mail are those of the author(s) and are subject to change, and Astor Ridge has no obligation to update its opinions or the information in this publication. If this e-mail contains recommendations, those recommendations reflect solely and exclusively those of the author, and such opinions were prepared independently of any other interests, including those of Astor Ridge and/or its affiliates. This publication does not constitute personal investment advice or take into account the individual financial circumstances or objectives of the clients who receive it. The securities discussed herein may not be suitable for all investors. Astor Ridge recommends that investors independently evaluate each issuer, security or instrument discussed herein, and consult any independent advisors they believe necessary. The value of and income from any investment may fluctuate from day to day as a result of changes in relevant economic markets (including changes in market liquidity). The information herein is not intended to predict actual results, which may differ substantially from those reflected. Past performance is not necessarily indicative of future results.
You should not use or disclose to any other person the contents of this e-mail or its attachments (if any), nor take copies. This e-mail is not a representation or warranty and is not intended nor should it be taken to create any legal relations, contractual or otherwise. This e-mail and any files transmitted with it are confidential, may be legally privileged, and are for the sole use of the intended recipient. Copyright in this e-mail and any accompanying document created by Astor Ridge LLP is owned by Astor Ridge LLP.
Astor Ridge LLP is regulated by the Financial Conduct Authority (FCA): Registration Number 579287
Astor Ridge LLP is Registered in England and Wales with Companies House: Registration Number OC372185
Astor Ridge NA LLP is a member of FINRA/SIPC: CRD Number 282626
Astor Ridge NA LLP is a member of the National Futures Association (NFA): Firm ID Number 0499303
Astor Ridge NA LLP is Registered in England and Wales with Companies House: Registration Number OC401796
Astor Ridge Data, Supply and Events Calendars for Apr 8-12
Data calendar is pretty light on balance…
Fairly chunky supply as Eurozone issuers hit the market pre-Easter, US brings UST 3yr, 10yr and 30yr and UK taps the 1F28s.
Brexit will continue to dominate with the market hoping (praying?!) for a breakthrough. ECB meeting and FOMC mins too.
Please see attached.
Best,
Mark
image009.jpg@01D28D1B.42BD95C0">
Mark Funsch
O: +44 (0) 203 - 143 - 4177
M: +44 (0) 789 - 996 - 4051
UK: 14-16 Dowgate Hill, London UK EC4R 2SU
US: 245 Park Ave, 39th Floor, NY, NY, 10167
This research was prepared by Mark Funsch. He is a consultant with Astor Ridge. A history of his marketing commentaries can be provided upon request in compliance with the European Commission’s Market Abuse Regulation. Astor Ridge takes no proprietary trading risk, has no market making facilities, and has no position in any security we discuss in this e-mail. The views in this e-mail are those of the author(s) and are subject to change, and Astor Ridge has no obligation to update its opinions or the information in this publication. If this e-mail contains recommendations, those recommendations reflect solely and exclusively those of the author, and such opinions were prepared independently of any other interests, including those of Astor Ridge and/or its affiliates. This publication does not constitute personal investment advice or take into account the individual financial circumstances or objectives of the clients who receive it. The securities discussed herein may not be suitable for all investors. Astor Ridge recommends that investors independently evaluate each issuer, security or instrument discussed herein, and consult any independent advisors they believe necessary. The value of and income from any investment may fluctuate from day to day as a result of changes in relevant economic markets (including changes in market liquidity). The information herein is not intended to predict actual results, which may differ substantially from those reflected. Past performance is not necessarily indicative of future results.
You should not use or disclose to any other person the contents of this e-mail or its attachments (if any), nor take copies. This e-mail is not a representation or warranty and is not intended nor should it be taken to create any legal relations, contractual or otherwise. This e-mail and any files transmitted with it are confidential, may be legally privileged, and are for the sole use of the intended recipient. Copyright in this e-mail and any accompanying document created by Astor Ridge LLP is owned by Astor Ridge LLP.
Astor Ridge LLP is regulated by the Financial Conduct Authority (FCA): Registration Number 579287
Astor Ridge LLP is Registered in England and Wales with Companies House: Registration Number OC372185
Astor Ridge NA LLP is a member of FINRA/SIPC: CRD Number 282626
Astor Ridge NA LLP is a member of the National Futures Association (NFA): Firm ID Number 0499303
Astor Ridge NA LLP is Registered in England and Wales with Companies House: Registration Number OC401796
Astor-Ridge-Supply-calendar-Apr8-12.pdf Astor-Ridge-Rates-Events-Calendar-Apr8-12.pdf Astor-Ridge-Econ-Data-Apr-8-12.pdf