Sterling Leaps to 6-month High as ‘Remain’ Odds Rise – fastFT (subscription)

The pound has surged to a six-month high amid growing confidence that the UK will vote to remain in the European Union.

Liebe Briten, wenn Ihr in der EU bleibt – Bild

German tabloid urges the UK to remain in the EU, saying if it does it will: Acknowledge the 1966 goal and no longer make fun of Prince Charles’ ears….

Traders Braced for All-Night Vigil as Brexit Votes Counted – FT (subscription)

Traders and brokers across the City of London are bracing themselves for an all-night vigil as the votes are counted in the Brexit referendum.

BOJ May Need to Ease if Market Shock Hits Economy: Kiuchi – Reuters

The Bank of Japan may need to ease monetary policy if the British referendum on whether to leave the European Union triggers a market shock that deals a severe blow to the economy, board member Takahide Kiuchi said on Thursday.

President Obama Has ‘Discussed’ Being NBA Owner – ESPN

Much has been made of what might be next for President Barack Obama after he leaves the White House in January. According to press secretary Josh Earnest, becoming an NBA owner might be an option.

US Gun-Control Fight Sparks Pandemonium in Congress – FT (subscription)

The US House of Representatives descended into chaos as Democrats staged a dramatic protest in an effort to force the Republican leadership to allow votes on gun-control legislation in the wake of the Orlando massacre.

Jamie Vardy: Leicester City Striker Agrees New Contract – BBC

England striker and Arsenal target Jamie Vardy has agreed a new deal with Premier League champions Leicester.

EBS BrokerTec Expects RMB’s Full Liberalisation by 2018 – Profit & Loss

The path to full liberalisation of China’s currency, the RMB might be complete by 2018, with the offshore and onshore markets set to eventually merge, EBS BrokerTec is forecasting.

Regulatory News

SEC Sues UK-Based Trader for Account Intrusion Scheme

The Securities and Exchange Commission today announced it has obtained an emergency court order to freeze the assets of a United Kingdom resident charged with intruding into the online brokerage accounts of U.S. investors to make unauthorized stock trades that allowed him to profit on trades in his own account.

Company News

Macquarie Admits to Mismanagement of Fund – FT (subscription)

Macquarie Group has admitted to multiple breaches of company law linked to the collapse of an Australian fund manager that funnelled money into a Cayman Islands-based entity, which is likely to lead to a court-imposed penalty.

Why Tesla and SolarCity Have an Elon Musk Problem – Fortune

Elon Musk’s deal for SolarCity has driven some of his shareholders into insane mode.

Market Savvy

Oil’s Supply-Demand Balance Improving: Saudi Energy Minister – Reuters

Oil markets are improving as supply and demand are almost balancing, Saudi Arabia’s energy minister said in comments aired on Thursday.

SDR Bonds to Curb Flow Boat from China? – Profit & Loss

The liberalisation of China’s capital account may prove to be one the key moments in the financial development of the 21st century. For some time now, many have predicted that this will ultimately become known as the Asian Century. And China is expected to play a major, if not the biggest, role.

China’s Xi Lauds New Silk Road – Reuters

Chinese companies invested nearly $15 billion in countries participating in Beijing’s new Silk Road initiative last year, up one-fifth from 2014, President Xi Jinping said in Uzbekistan, lauding a scheme that is one of his key foreign policy.

A Funny Thing Happened on the Way from the Forum – Profit & Loss

I went to a conference on China’s capital markets this morning in Canary Wharf, one of London’s major financial districts. On the way back to the office, I spotted a queue of people today outside the Thomas Cook bureau de change in Canary Wharf tube station. Even more bizarrely, someone was taking pictures. “That’s odd,” I thought. “Why would tourists want pictures of people queuing in an underground station?”

RMB Impact on SDR Limited, but Reforms Acknowledged – Profit & Loss

The plan to include China’s RMB in the Special Drawing Rights (SDR) basket of currencies by the International Monetary Fund is likely to have a limited impact on a global scale; however, for China it has a stronger relevance as it means liberalisation reforms have been acknowledged, panellists at a China markets conference in London highlighted today.