Sunday, June 26, 2016

MONDAY 6/27/16; Brexit Drama Continues; Spain Election Aftermath; European Bank Turmoil; UK Gilt Under 1.00% First Time in History; Pound (Sterling) Collapses to 1.31-Handle; PMI Services Index; DAX (Germany) Collapses -3%; MIB (Italy) Mini-Crashes -4%; US Yield Curve Flattens; WTIC Oil 45-Handle; Brent Oil 46-Handle; RUT (Russell 2000) Mini-Crashes -3.4%; COMPQ (Nasdaq Composite) Plummets -2.4%; UK Credit Rating Downgrades

The stage is set for the first full week of trading after the Brexit vote. 

[Text is Redacted: Purchase June 2016-06 to Read the Complete Chronology]

Treasury yields are; 2-year 0.60%, 5-year 0.985%, 10-year 1.44%, 30-year 2.27%. The 2-10 spread is 84 basis points reflecting an ever-flattening yield curve.

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