United Kingdom

It has been more of the same overnight, as global stocks piggybacked on the strong US close and rose despite the lack of good (or bad) macro news, propelled higher by the two usual suspects: a higher USDJPY and a even higher oil, if mostly early on in the trading session.

Yes, the oil squeeze higher continues, and as the charts below courtesy of Andy Critchlow show, Brent is now 82% higher in the past 82 days...

... while crude has had its strongest rally since 2010.

The Army may have to be deployed on the streets of Britain to carry out routine policing duties because constables are reluctant to train as firearms officers. Chairman of the Police Federation, Steve White, said officers are not volunteering to carry guns because they fear being “hung out to dry” and treated like a suspect if they discharge their weapon. “If you cannot get police officers carrying guns then you are going to have to have the Army on the streets” White warned.

Over the weekend, we were surprised to read that none other than recent market cheerleader Goldman Sachs had come up with six reasons why its chief equity strategist believes the market is poised for a material draw down (read "big drop") in the coming weeks. Among these were the following:

The British chancellor George Osborne has said that ‘Brexiters’ are so paranoid that they would accuse the media and politicians of faking the moon landing and covering up the loch ness monster. The Tory chancellor even shared a platform on Monday with his former rivals Ed Balls and Vince Cable to warn about the terrible dangers of leaving the EU. The Huffington Post reports: George Osborne has claimed the ‘Brexit’ campaign is so paranoid it thinks the moon landing was faked as he made a fresh warning of the deep economic cost of leaving the European Union.

• European Stocks Fall as Chinese Economic Data Disappoint (WSJ)
• Oil Climbs to Highest Since November as European Shares Retreat (BBG)
• Yen weakens on Japan intervention talk before G7 meets (Reuters)
• Wall Street’s Bond Forecasters Splinter as Fed Credibility Wanes (BBG)
• Amazon to Expand Private-Label Offerings—From Food to Diapers (WSJ)
• Oil prices rise on Nigerian outages, Goldman forecast (Reuters)
• 'Avengers' threaten new insurgency in Nigeria's oil-producing Delta (Reuters)