general election

The walls are closing in on UK's embattled prime minister Theresa May, who after the disastrous outcome in the general election, and following a torrid week in which she faced fierce criticism for her handling of the Grenfell Tower catastrophe, in which 58 people are now presumed dead, is reportedly facing what the Telegraph calls a "secret plot" - well, not so secret any more - involving a "stalking horse" challenge to remove her as prime minister if she caves to Labour demands, and waters down the "Hard Brexit."

Despite Prime Minister Theresa May’s embarrassing performance earlier this month in a snap election that cost her Conservative party its parliamentary 'majority', more than 70% of Britons still believe the government should push ahead with Brexit – even after the election sparked exclamations from the left for a second referendum, according to the latest YouGov poll.

In his last interview as part of the Barron's Roundtable, from which he is retiring at the end of the year after three decades of participation, Felix Zulauf, owner of Zug-based Zulauf Asset Management had some parting words of caution.

After a tumultous week in the world of politics, with non-stop Trump drama in the US, a disastrous for Theresa May general election in the UK, and pro-establishment results in France and Italy, this is shaping up as another busy week ahead with multiple CB meetings, a full data calendar and even another important Eurogroup meeting for Greece. Wednesday's FOMC will be the main event, with the Fed expected to hike 25bp (see full Goldman preview here), while the BOJ, BOE and SNB all remain on hold.

Courtesy of BofA, here is the breakdown of key events:

Authored by Mike Shedlock via MishTalk.com,

Contrary to what many are saying, the Tory election debacle was not about Brexit. Rather, the election was about everything but Brexit.

Sure, the youth vote, turned out en masse for Corbyn, but Labour and Corbyn himself had already admitted the Brexit reality.

Tory MP Jacob Rees-Mogg explains nicely in This election created no mandate for watering down Brexit. There must be no backsliding.