British prime minister David Cameron is trying to fast-track an EU-Canada trade deal without parliamentary consent. A set of leaked notes that were allegedly made during the EU Foreign Affairs/Trade-Council in Brussels on 13 May, appears to show that the UK is aggressively pushing for a controversial trade between the EU and Canada to be implemented through parliament before MP’s have a chance to vote on the issue.
The single biggest event overnight was the PBOC's devaluation of the Yuan to the lowest since March 2011, setting the fixing at 6.5693, the highest in over 5 years and in direct response to a stronger dollar, which however if one looks at the DXY remains well below the recent highs in the 100 range, suggesting for China this is only just beginning.
Hoax bomb threats lead to lockdowns and evacuations in dozens of elementary and high schools across both the US and UK on Monday. In the UK thousands of children in at least 21 schools were evacuated after bomb threats were phoned in to police. One anonymous caller said that the resulting shrapnel would “take children’s heads off.” Classes resumed only after police failed to find any explosives or other dangerous items. Today, nine more UK schools in Devon, North Wales, Northern Ireland, South Lanarkshire and across central Scotland were evacuated following malicious phone threats.
The last few weeks have seen 'Project Fear' taken to all new levels by the UK establishment as doom-mongering over a possible Brexit conjure images of post-apocalyptic movies. UK PM Cameron and Chanceller Osborne's latest op-ed tirade warns of 800,000 jobs lost and an "immediate year-long recession" if the Brits exercise their democratic right to vote for sovereignty over tyranny. Judging from the polls, which show Brexit odds tumbling, the fear-mongery is working, however, the markets disagree as forward volatility measures near 2016 highs.