Brexit: The fallout

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We can't rule out a few member states refusing to support a longer extension on the 10th if the UK comes to the council meeting with no plan. Some have simply had enough and we (Ireland) can't ask them to play this game indefinitely.

 

I hope May fully understands the risk of no deal exit on the 12th and accedes to parliament's wish for "something else" if parliament can just manage a majority for one of the realistic options on Monday.

 

The EU genuinely can't risk the parliament being found illegitimate by the ECJ at a later date as this could invalidate anything the EU does in this period.

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The open interest on the Pound Future contracts has dropped and the positioning is pretty neutral.   Commericials (purple) are usually (not always) "smart money" and they seem to operate on longer timeframes.   Speculators are considered "dumb money".  

 

https://snalaska.us/cot/current/charts/BP.png

 

There is some additional volume in the Gold contract but commercials are net short.   Swiss Franc, Euro, and Eurodollar futures don't indicate massive inflows.  

 

How did people who are holding lots of pounds or pound denominated assets hedge the currency exposure?  

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7 hours ago, murphaph said:

We can't rule out a few member states refusing to support a longer extension on the 10th if the UK comes to the council meeting with no plan. 

Yes some of them just might be fed up with the hem hawing going on.

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11 hours ago, fraufruit said:

 

Impossible. According to RF, you are spending your hubby's money.

 

I almost busted a gut when I read that!

 

We just rode by the EU Patentamt and the Union Jack was still flying. So there's that.

 

Final comment on the matter :

 

0.jpg.65ef59a80ddf57faba6b03698384399f.j

 

Nuff said.

 

Meanwhile, back in Westminster

 

May hopes to hold fourth vote on Brexit deal

 

Groundhog day anyone?

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Brilliant! :D:D

 

They need to make a zoo out of Parliament - oh wait, it already is one!

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Theresa May found dead in her office at Number 10.

The prime minister was discovered early this morning hanging from the rafters in her office. A note found tied to her neck read: “It’s my deal or my life!” Boris Johnson was seen leaving his flat in West London with police officers hours after the discovery, with the Met confirming he is helping them with their inquiries.

https://www.telegraph.co.uk/politics/2019/03/31/april-fools-jokes-banned-amid-fear-panic-buying-brexit/

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On 3/30/2019, 12:37:27, murphaph said:

We can't rule out a few member states refusing to support a longer extension on the 10th if the UK comes to the council meeting with no plan. Some have simply had enough and we (Ireland) can't ask them to play this game indefinitely.

 

I hope May fully understands the risk of no deal exit on the 12th and accedes to parliament's wish for "something else" if parliament can just manage a majority for one of the realistic options on Monday.

 

The EU genuinely can't risk the parliament being found illegitimate by the ECJ at a later date as this could invalidate anything the EU does in this period.

 

To be honest I am not sure the EU are in a position to really dictate terms. The UK can revoke article 50 at any point, so even if they refuse an extension UK can then revoke Article 50 and then evoke it again.

 

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"Sugar in your tea Arlene?"

"Just a little sweetener please".

"£1 billion again?"

"That'll do nicely".

 

D3DXp3IWoAARKsb.png

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