Top Headlines

Brit Arrested At Rally ‘Wanted To Shoot Trump’ – Sky News

A British man who was arrested at a Donald Trump rally has told investigators he wanted to kill the presumptive Republican presidential nominee.

EU Referendum Vote Will Go Down to the Wire as Remain Moves Ahead in the Polls – Daily Telegraph

In the final ORB poll for the Telegraph before referendum day, the Remain campaign sees a significant boost in support among definite voters to open up a 7-point net lead, attracting 53 per cent of the vote among definite voters compared to Leave’s 46 per cent

Donald Trump’s May Fundraising Totals are Disastrously Bad – Washington Post

Donald Trump’s campaign raised $3.1 million in May and ended last month with $1.3 million in the bank, a remarkably poor showing that will only heighten Republican concerns about his ability to run a serious general election campaign against presumptive Democratic nominee Hillary Clinton.

German High Court Rejects Case against ECB Crisis Tool – FT (subscription)

Germany’s powerful constitutional court has ruled in favour of the one of the European Central Bank’s most important tools to fight financial crises, in a caveated judgment that will provide significant relief to jittery markets just two days before Britain’s EU referendum.

What to Watch for in Janet Yellen’s Congressional Testimony – WSJ (subscription)

Central bank watchers will hear from the Fed chief for the fourth time in as many weeks on Tuesday when she appears before the Senate Banking Committee for her semiannual monetary policy testimony.

Regulatory News

ASIC Warns on “Significant Failures” in Retail OTC Derivatives Industry – Profit & Loss

The Australian Securities and Investments Commission (ASIC) has issued a stark warning following a recent surveillance program that identifying “serious and widespread” compliance failures in the Australian retail OTC derivatives industry.

Ex-Barclays Traders Await Verdict in Libor Trial – Daily Telegraph

The jury in the trial of five former Barclays traders accused of fraud by Libor manipulation has been sent out to consider its verdict at the end of a three-month court battle.

PBOC Considers Allowing Local Commercial Banks in Offshore Yuan Market – Reuters

China is considering allowing local commercial banks to participate in offshore yuan trade, the central bank said on Tuesday, as the country looks to project greater influence in the offshore currency market.

Company News

Bank of America ML Upgrades ICAP to ‘Buy’ – Digital Look

Bank of America Merrill Lynch upgraded ICAP to ‘buy’ from ‘neutral’ with an unchanged price target of 500p, saying the stock’s recent underperformance has added valuation appeal to a compelling strategy.

Oi Files Brazil’s Biggest Bankruptcy Protection Request – FT (subscription)

Brazilian telecommunications operator Oi has filed the country’s biggest bankruptcy protection request, weighed down by R$65.4bn (US$19.2bn) of debt and a slumping economy.

Retro Sneaker Styles Give Shoemakers a Boost – WSJ

From Stan Smiths to Air Jordans, reissued designs have become the fastest-growing footwear category in the U.S.

Market Savvy

Polls, Bookies Divided on Brexit – Profit & Loss

Throughout the campaign leading up to the UK’s referendum on EU membership, which will be held this Thursday (June 23), there has often been a stark difference between the opinion polls and prices quoted by bookmakers.

Brexit in Seven Charts — The Economic Impact – FT (subscription)

The question of how Brexit would affect the UK economy is one of the crucial issues in the campaign ahead of Thursday’s historic EU referendum.

Most European Stocks Fall as Dollar Drops With Yen Before Yellen – Bloomberg

Most European stocks retreated, led by declines in the U.K., as polls suggested Britain’s vote on EU membership this Thursday will be close. The dollar weakened ahead of remarks by Federal Reserve Chair Janet Yellen that will help shape expectations for U.S. monetary policy.

P&L Talk Series with Kevin Taylor

Profit & Loss talks to Kevin Taylor, managing director, Icap Information Services about why is market data increasingly seen as a big money business at a time when market participants appear able to access more data from different sources than ever.

Mexico: the Best House in the Worst Neighbourhood? – Profit & Loss

At Profit & Loss’ Forex Network Latin America conference economic experts debated the future of the region and whether internal or external factors are most likely to have the biggest impact on foreign exchange rates.

Report: RMB Band Still Tied To the Dollar – Profit & Loss

Despite the avowed intention of Chinese authorities to measure the daily trading band for RMB against a basket of currencies, a new research report suggests that it is still very much tied to the US dollar.