European Union

The campaign for Britain to leave the European Union has taken a 2 percentage point lead, according to an ICM poll, to 43%, up 2 percentage points from a similar poll a week ago and the highest proportion in favour of a British exit since ICM started its referendum tracker in May 2015. Bearish bets on GBP have soared to record highs as a split within the governing Tory party and the atrocities in Brussels have sent bookies odds to their highest yet.

Following two days of rangebound moves, where Monday's modest market rebound was undone by the Tuesday just as modest decline (despite the early surge higher on the latest "bullish for stocks" European terrorism), overnight equity action continued to be more of the same, and as of this moment S&P 500 futures were unchanged, while European stocks were modestly higher.

Update: Belgian media have reported a fourth explosion.

Update: The Belgian army will deploy 275 more troops to Brussels as the city will once again come to resemble a war zone.

Update: Reports indicate the death toll from the twin airport blasts sits at 13 while casualties in the metro number 20. Cell phone networks are congested and authorities are encouraging Belgians to use messaging apps and social media to contact friends and family.

On Friday, the EU and Turkey came to an agreement on a set of proposals to stem the flow of Mid-East asylum seekers into Western Europe.

The focus of the discussions in Brussels was cutting off the sea route to Greece. On the front lines is the Greek island Lesbos where at least half of the 144,000 refugees who have entered Greece in 2016 have landed. More than a million people crossed the Aegean to Greece last year.

John McCain has become the latest critic from the US to intervene in the Brexit debate Wading into the EU referendum debate on Friday, the republican senator, who is no fan of Vladimir Putin, warned that if Britain should exit the EU it would leave Europe, America and the wider world at the mercy of Russian President. Important intervention by @SenJohnMcCain – UK membership of EU vital for security & prosperity of both Europe & U.S.