WSJ City"s Brexit Briefing: Gilt Trading Soars, Banks Slash Property ...

佐田真由美 × GILT - STYLE ON THE GO - 15秒 B ver.

Good afternoon from London. Heres essential reading for the City on todays Brexit developments from WSJ City. For updates throughout the day, you can download WSJ City foriPhone hereorAndroid here. Youll need to open this email on your mobile device to do this. And you can sign up to receive this briefingdirect to your inbox here.

MUST READS FROM WSJ CITY

UK government bond traders might want to postpone their August holidays. Gilts have become the most actively traded bonds in Europe since the Brexit vote, in another sign of how the UK has become the main driving force in global bond markets in recent weeks. The average daily trading volume of the UK 10-year government bond is 6.75 billion so far in August roughly seven times higher than it was during the first three months of year, according to Trax.

UK banks have dramatically reduced their exposure to Britains commercial property market in the past 5 1/2 years but are still at risk from a downturn in the sector, according to a report from Moodys. The six largest UK banks have reduced their aggregate exposure to the sector by around 40% since the end of 2010 to 84.6 billion, according to the rating agency. Moodys projects a 10% decline in UK commercial property values but warned a severe stress scenario could lead to losses of up to 12 billion.

British universities are finding themselves in a new, uncertain world. Some of the countrys top academicswhose grant writing today will fund projects years into the futureare stepping aside from leading EU-funded projects. In others, they say, they are being asked to reconsider participating altogether in projects competing for such funds. The changes are putting at risk some of the money that has helped them maintain their research clout.

Global investors were less bearish in August, reducing their cash holdings and moving into stocks amid hopes for a rebound in economic growth and a prolonged period of easy money, according to Bank of America Merrill Lynchs latest fund manager survey. However, the UK remains the most under-weighted region globally, although investors boosted their exposure slightly in August, BAML said.

The good news: lower immigration to the UK should boost pay in some low-paid jobs. The bad news: The effect will be limited to a few types of jobs and some specific parts of the country. The worse news: Across-the-board weakening of wages as the economy slows will more than wipe out the values from reduced immigration anyway. Thats the maths in a study by Resolution Foundation, a non-partisan think tank that looks at living standards in low- and mid-pay Britain.

Prime minister Theresa May has sought to reassure the Chinese leadership that London is committed to strengthening relations with Beijing following the Brexit vote. In a letter, May said she was looking to strengthen cooperation with China on economic, trade and global issues, Chinas foreign ministry said in a statement. The UKs relationship with China has been strained since itlast month postponed the go-ahead for an 18 billion nuclear power project that China had agreed to part-fund.

IN THE PAPERS

Inflation Heads Towards Two-Year High- The Times

Weak-Pound Adrenaline Drives FTSE 100 Towards Fresh Record High- WSJ

Low Paid Told Not to Expect Post-Brexit Boost in Wages- The Times

The Curious Incident of Volatility In Three Months Time- WSJ

MARKETS TODAY

Stocks around the world edged back from highs on Tuesday and government bonds and the dollar retreated, following fresh indications that the US Federal Reserve could raise interest rates this year.

Londons FTSE 100 ended the day down 0.5%, mirroring similar moves across Europe and the US.

Data released on Tuesday showed US consumer prices were flat in July, a signal that inflation remains modest. Stocks sensitive to changes in interest rates, such as utilities and phone companies, were among the biggest fallers on Wall Street.

On the FTSE 100, Marks & Spencer was the biggest laggard, ending the day around 3% lower.

In currency markets, the pound clung onto steep gains against the dollar for most of the session. Sterling rose early in the day after data showed UK inflation rose in July, with the CPI figure climbing 0.6% on the year, compared with a rise of 0.5% in the year to June.

Oil prices extended a three-day rally, spurred by hopes that major producers will consider a production freeze at a meeting next month.

Source: http://blogs.wsj.com/moneybeat/2016/08/16/wsj-citys-brexit-briefing-gilt-trading-soars-banks-slash-property-exposure-universities-face-brexit-uncertainty/

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Can Ashton Eaton Save the Decathlon?

Raising An Olympian: Ashton Eaton | Rio 2016 Olympic Games | P&G Thank You, Mom

Ten years ago, Tate Metcalf, a high-school track coach in Bend, Oregon, was trying to find a college that would give one of his athletes a scholarship. Ashton Eaton was a talented sprinter with a fierce long jump, but Metcalf received mostly lukewarm responses. His coach felt that Eaton would have the best shot at getting into a Division I college if he competed in one of track and fields multi-event disciplines, like the heptathlon or the decathlon. Metcalf knew it would make Eaton, who was raised by a single mother and had never had any private coaching, one of the first people in his family to go to college. So he suggested it. Sure, Eaton replied, as Metcalf recently recalled. Then Eaton said, Whats the decathlon?

Eaton ended up attending the University of Oregon, where he set a variety of collegiate records, although his college coaches concede that without Metcalfs phone call, Eaton easily could have been overlooked by recruiters.

Eaton, who is twenty-eight, is now the defending Olympic gold medallist and world-record holder in the event. Hes the face of track and field, Metcalf said, sitting underneath a giant banner of Eaton draped over Hayward Field, in Eugene, Oregon, at the Olympic trials earlier this summer. But nobody knows it because hes a decathlete. Its true: though he has a gleaming smile, press-perfect interview skills, and historic talent, Eaton has remained virtually unknown relative to his Olympic-champion counterparts and even some of his decathlete predecessors. The one place hes remained indisputably famous is Eugene: here, his face graces billboards and bus signs; the local minor-league baseball team recently distributed Ashton Eaton bobblehead dolls as part of a tribute night to him. I havent seen them yet, Eaton told me. Its a little weird.

Read more of our latest coverage of the 2016 Summer Olympic Games, in Rio de Janeiro.

The decathlon hasnt always been a path to athletic obscurity. Many consider the winner of the event, which can trace its origins to ancient Greece, the worlds greatest athlete. The sport vaulted Jim Thorpe to stratospheric fame and put Bruce Jenner on Wheaties boxes. (In the lead-up to the 1992 Summer Games, in Barcelona, Reebok built a major ad campaign around Dan OBrien and Dave JohnsonDan & Davebut it fizzled when OBrien failed to qualify for the Olympics.) Eatons dominance puts him in their class, or above it: he set his first world record in 2012, and if he wins a gold medal in Rio he would become the first person to win back-to-back decathlons since Great Britains Daley Thompson did so at the boycotted 1980 and 1984 Games.

Those post-Jenner years were especially lean ones for the decathlon in the U.S. We stunk in the nineteen-eighties, Eatons coach, Harry Marra, said. Nobody in the U.S. was on the podium. Marra, who coached Eaton at Oregon, concedes that keeping fan interest alive across ten events and two days is challenging for even the savviest of broadcasters. The dec, as its often called by its practitioners, consists of hurdles, long jump, discus, shot put, javelin, high jump, and pole vault, plus runs of a hundred metres, four hundred metres, and fifteen hundred metres. Each contest has a point value; the athlete with the highest score at the end wins. Its not tailor-made for TV highlights.

But Marra hopes that Eatons performance and star power can drive more interest in the sportparticularly if Eaton and his wife, Brianne Theisen-Eaton, each medal. (Ultimately, Theisen-Eaton won bronze in her event, on Sunday.) Theisen-Eaton represents Canada in the heptathlon. She and her husband met in college; Marra is her coach, too. I think it makes the pursuit quite a bit easier because she understands what it takes, Eaton said, of Theisen-Eaton. In our marriage, the success of our athletic dreams comes before everything. Hey do you want to watch a movie? No, I have a hard workout tomorrow.

At Hayward Field during the trials, Eaton was cheered on by another family member: his mother, Roz. During the pole vault, she held her breath as he hoisted himself into the air, and only exhaled when he thudded to the pad below, the bar above still resting on its brackets. Now a real-estate agent in Bend, Roz Eaton worked a variety of jobs to support herself and her son, who spent much of his childhood climbing, running, and darting around anything he could, often while wearing a Superman cape, she said. She relied heavily on friends and family to shuttle him to various sporting events. My decathlon was raising Ashton, she said. I told his coaches, Im a single mom and my kid is watching you, she added. And I expect you to be the best you can be. Hes watching you because I gave him permission to watch you. And they took care of him.

Unlike many young athletes, Eaton was competition-averse. When her son was in middle school, Roz Eaton said, she was summoned to the school and told that her son was throwing races and had a poor attitude. If it continued, he would not be permitted to compete at a district track meet. He didnt want to keep winning because nobody else had an opportunity to win when he competed, she said. It took us a while to figure it out.

He loves the limelight when it means seeing his name on record boards, Metcalf said. But he doesnt like to beat other people. As a high-school boys coach, you can kind of get in the grill a bit and pump them up, say Lets get this guy. But Ashton never worked that way. Metcalf told him to think of the decathlon as a competition against the selfa common enough approach, but one that continues to come in handy for Eaton, who, at this point, is often competing against his own records.

When the decathlons final event, the fifteen hundred metres, began at Hayward Field, Eaton was already far enough ahead of his competitors to be sure of his place on a second Olympic team. His mom sipped a beer and watched a highlight reel of her son playing on a nearby Jumbotron, her eyes watering as she shared a hug with Metcalf. When Ashton crossed the finish line, he hugged his teammates, as usual, and then they dived together into the steeplechase pool. Later, at a press conference, he vowed to rest between now and the Olympics, and dodged questions about his post-Rio plans. The Olympic Games is every four years, Eaton said. I feel like if I use that one per cent to focus on something else, what if I lost by ten points? Thats the one per cent.

Eaton has said in passing that when the Olympics are over he wants to go to Mars, a comment that seems slightly less strange after you listen to him geek out about NASA and Elon Muskthe man has a passion for outer space. (Neighbors in Oregongossip about spotting Eaton flying his drone around his home.) His mother, in any case, takes the Mars idea seriously. Someones gotta go, she said. Why not him?

Source: http://www.newyorker.com/news/sporting-scene/can-ashton-eaton-save-the-decathlon

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Why Kodak Black"s American Story Is So Important

KODAK BLACK NO FLOCKIN (Official Video) FREESTYLE (Prod. by VinnyxProd)

Taking in Lil B.I.G. Pac reminds me of a 2005 book by researcher and educator Joy Degruy, titled Post Traumatic Slave Syndrome: Americas Legacy Of Enduring Injury and Healing. Degruy uses six years of field study in places where people of African descent were colonized (including parts of the U.S., the Caribbean, and South Africa) to liken the effects of systemic oppression to those of Post Traumatic Stress Disorder. She lists symptoms that include: a feeling of foreshortened future, diminished interest or participation in significant activities, outbursts of anger, difficulty staying and falling asleep, and feelings of detachment from others. Degruy points out that these symptoms were never collectively addressed by the U.S. government and, as a result, the fallout from that trauma is ongoing.

On the Lil B.I.G. Pac song Can I, Kodak runs through, in a lullaby fashion, many of the uncertainties that some descendents of colonised black people constantly replay in their heads. He wonders whether h**l be around long enough to truly father his kid. He tells himself that once he attains success, people will be waiting to s****h it right back from him. He asks himself whether he should run in response to a woman telling him that she loves him. While none of these are foreign concepts in rap, when measured up against Degruys work, its not hard to understand why they become conventions in the music. In terms of its sound, Lil B.I.G. Pac doesnt lean on much of whats become expected from Southern rap. Instead of rampant 808 drum sounds or key play popularized by producers like Zaytoven, Kodak borrows inspiration from the pulsating, echoey, bounce-building early music made by the Louisiana rappers hes been likened to, such as Lil Wayne and Boosie Bad Azz.

Like those guys before him, Kodak hits energetic highs and permits himself moments of helplessness. Mid-head bob on Purp, in a low register, Kodak delivers the line, Lord knows Im blessed but sometimes I feel cursed. Later, with infectious force, Phillys PnB Rock delivers the hook on Too Many Years, a somber look into Americas prison system. The song carries an especially heavy weight, given the fact that Kodak is currently in prison, facing previous charges of robbery, false imprisonment, and marijuana possession. Why we keep on falling victim?, Kodak asks. Then theres Today, which Id call a self-care jingle, but one devoid of luxuries like naps and spa time. Instead, all Kodak wants is to be able to walk around freely with his gun concealed, shop without interruptions, and not be Kodak Black, the rapper who has to always take pictures with fans and perform in front of crowds.

Since bubbling online and receiving an infamous Drake co-sign in 2015, Kodaks legitimacy as a rapper has continuously been questioned by hip-hop fans across social media. When he made the cut for XXLs annual Freshman list last month, the criticism accelerated. Beneath Kodaks Freshman freestyle video are YouTube commenters describing him as a trash rapper and praying for the return of real MCs. These are criticisms that effectively breeze by, or totally disregard, the details within his work that reflect hip-hops long history of environmental storytelling.

For the same way we need tracks like Kendricks joyous Alright and Beyoncs emotionally commanding Freedom to boost our morale, we also need Kodak Black. And Future, and Chief Keef, and anyone else whose music we love to bounce to but simultaneously write off as detriments to our collective progression because they rap about popping pills, womanizing, and shooting guns. While those topics can make listeners squeamish, they are a reality of the struggle that many black people experience in this country. Its unfair to expect every person whos raised in environments where such things are normalized to rise above them in one miraculous swoop. Each aforementioned artists music has value because of what it lends to the narrative of our plights and triumphs. Alright and Freedom wouldnt feel so damned good at protests, concerts, or in our living rooms if there wasnt a mournful Too Many Years or a dark No Flocking as a counter balance. Theres a long history of trauma that has led to the experiences of rappers like Kodak and there will be no true victory or liberation until we value our whole story.

Source: http://www.thefader.com/2016/07/20/kodak-black-lil-big-pac-essay

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Elvis Presley"s Graceland getting major upgrade

Elvis Presley Suspicious Minds Live in Las Vegas

USA Today Network Wayne Risher, The (Memphis) Commercial Appeal 9:31 p.m. EDT August 11, 2016

Keith Hess, general manager of The Guest house at Graceland, leads a media tour in the new building in Memphis on Aug. 10, 2016.(Photo: Yalonda M. James, The Commercial Appeal)

MEMPHISGraceland managers say they"ll reveal details on Monday for a $45 million, 200,000 square foot visitor and entertainment complex on the west side of Elvis Presley Boulevard.

The new construction, scheduled for complextion next spring, will replace a decades-old complex containing souvenir shops, dining and exhibits of Elvis Presley"s cars.

Coupled with a $92 million investment in a resort hotel called The Guest House at Graceland, it brings to $137 million the price tag for updated facilities supporting Presley"s Graceland mansion.

The number released by Elvis Presley Enterprises Thursday slightly exceeds a $132 million total investment previously reported by community leaders.

What Graceland owners refer to as the "Westside Project" is directly across the street from the mansion and 450-room hotel, which is on track to open Oct. 27. The site includes the Heartbreak Hotel, slated for demolition after The Guest House is completed.

New facilities will include a new museum of Elvis" cars, two restaurants, a multipurpose building, six retail spaces, an "Elvis the Entertainer" museum and other exhibits. Graceland officials have said they"ll move Elvis memorabilia including gold records, guitars and jumpsuits from the mansion to the new space. An aircraft exhibit of the "Lisa Marie" will stay in place.

Graceland, Elvis Presley"s home in Memphis.(Photo: Mark Humphrey, AP)

Elvis Presley Enterprises had previously sought construction permits for at least $28 million in westside work.

Joel Weinshanker, managing partner of Graceland/Elvis Presley Enterprises Inc., and Jack Soden, chief executive of Elvis Presley Enterprises, are scheduled to participate in the Monday announcement.

Weinshanker leads a group that bought the operating rights to Graceland in 2013 and put together a master plan for redevelopment. It"s the most sweeping overhaul of Graceland"s Whitehaven complex since the home opened for tours in 1982.

The development is being aided by key public incentives including a tax-increment financing (TIF) district and a tourism development zone. Graceland officials said the future incentives had a net present value of $78.6 million when approved in 2014.

Follow Wayne Risher on Twitter:@gwrisher

Read or Share this story: http://usat.ly/2ba5IKA

Source: http://www.usatoday.com/story/money/nation-now/2016/08/11/elvis-presleys-graceland-getting-major-upgrade/88598600/

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George Soros Hacked, Connections To Global "Dissident Groups" Revealed

George Soros, Hillary, and Obama Want To Stop Critics Of Radical Islam

Over 2,500 internal documents have already been released online in what has been dubbed the #DCLeaks.

George Soros has been hacked in what has been dubbed the #DCleaks. (Photo: Manuel Balce Ceneta/AP)

Last Thursday, as Bloomberg was gingerly setting the stage, and the preemptive damage control for what was about to be a historic leak, it did everything in its power to deflect attention from the key topic, namely that prominent liberal billionaire and Hillary supporter, George Soros had been hacked and countless documents were about to be leaked, and instead focus on the alleged identity of the hackers, the so-called DCLeaks, which like all other experts it positioned as yet another Russian government-sponsored operation.

To this we had one retort: Far more important than the inane speculation on the hackers identity, is the now official disclosure and warning that Soros himself was hacked. Bloomberg writes that Open Society Foundations, the Soros group, reported the breach to the Federal Bureau of Investigation in June, according to spokeswoman Laura Silber, who added that an investigation by a security firm found the intrusion was limited to an intranet system used by board members, staff and foundation partners.

And, sure enough, over the weekend that is precisely what DCLeaks revealed as it disclosed over two thousand internal documents from groups run by George Soros were leaked online Saturday after hackers infiltrated the groups. The 2,576 files were released by DCLeaks, a website which claims to be launched by the American hacktivists who respect and appreciate freedom of speech, human rights and government of the people.

The documents are from multiple departments of Soros organizations. Soros the Open Society Foundations seems to be the group with the most documents in the leak. Files come from sections representing almost all geographical regions in the world, from the USA, to Europe, Eurasia, Asia, Latin, America, Africa, the World Bank the Presidents Office, as well as an unknown entity named SOUK. As the Daily Caller notes, there are documents dating from at least 2008 to 2016.

Documents in the leak range from research papers such as EUROPEAN CRISIS: Key Developments of the Past 48 Hours focusing on the impact of the refugee crisis, to a document titled The Ukraine debate in Germany, to an update specific financials of grants.

They reveal work plans, strategies, priorities and other activities by Soros, and include reports on European elections, migration and asylum in Europe.

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Source: http://news.google.com/news/url?sa=t&fd=R&ct2=us&usg=AFQjCNGQTgWGHGVFdSwRtT0UD7M3gz5skg&clid=c3a7d30bb8a4878e06b80cf16b898331&cid=52779181157161&ei=J9WzV9iIOYKU3QG3ibS4AQ&url=https://www.mintpressnews.com/george-soros-hacked-revealing-connections-global-dissident-groups/219531/

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Ailing John McLaughlin Misses First "The McLaughlin Group" In 34 Years

Paco De Lucia y John McLaughlin

An ailing John McLaughlin missed his first episode in 34 years as host of his Sunday political free-for-allThe McLaughlin Group. This mornings installment kicked off with the hosts written note to viewers that read Dearfriendsof The McLaughlin Group, Dr. McLaughlin here. As the panels recent absences attest, I am under the weather. The final issue of this episode has my voice, but please forgive me for its weaker than usual quality. Yet my spirit is strong and my dedication to this show remains absolute!

PanelistPat Buchanan then began the weeks political discussion by noting, This is our first time in 34 years that our distinguished leader Dr. McLaughlin is not in his chair and we miss him. But lets get on with the show. (McLaughlin holds a Ph.D. from Columbia University).

McLaughlin Group via Twitter

McLaughlins voice, sounding raspy and slurred, was heard in a pre-taped voiceover introducing a segment on free trade.

In addition to Buchanan, the panel of pundits included the usual weekly group:Eleanor Clift, Clarence Page andTom Rogan.Rogan closed out the show by saying, On behalf of the panel we want to say to John were thinking of you and you have our very best. No details were mentioned about the nature of McLaughlins ailment.

McLaughlin is the creator, executive producer and host of The McLaughlin Group, which premiered in 1982. The program airs nationally of select CBS-owned stations and on public stations.

Source: http://deadline.com/2016/08/john-mclaughlin-ailing-the-mclaughlin-group-pat-buchanan-1201803350/

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Sofia Richie Weighs in on the Justin Bieber and Selena Gomez Drama: ""Love Who You Want""

Justin Bieber Deletes Instagram After Selena Gomez Feud

UPDATE: E! News has learned that this Twitter account posing to be Sofia Richie is not real. Richie is not on Twitter.

______________________________________________________

Sofia Richie is standing up for Justin Bieber.

After Selena Gomezcommented about their new relationship, the 17-year-old model took to Twitter on Tuesday to weigh in on the drama and support her rumored beau.

In case you missed it, SelGo called Bieber out for sharing back-to-back photos of Sofia and then threatening to make his Instagram private if people kept hating on her.

Selena wrote,"If you can"t handle the hate then stop posting pictures of your girlfriend lol it should be special between you two only.Don"t be mad at your fans. They love you."

Though Justin providedhis own response, Sofia also made sure to show her support for him. "Justin is not shutting out his beliebers," she tweeted on Monday. "He"s thankful everyday for y"all, y"all got him here.. He doesn"t forget that.. Period."

She added, "All love," which seems to be a recurring message throughout all of the drama between SelGo and the Biebs.

Then, after Justin deleted his Instagram account on Tuesday, Sofia tweeted again with a similar message."#purposetour is still on," she wrote. "The music is still coming.. Love who you want... Stop the d**n hate... And love each other!!"

Sofia has already followed her own advice and made sure she (literally) turned offany hate that could be aimed her way, blocking users from being able to comment on her Instagram photos.

Meanwhile, SelGo"s commentary eventually led to some big back-and-forth with Bieber that the Internet couldn"t help but dissect.

He responded to her first comment, saying,"It"s funny to see people that used me for attention and still try to point the finger this way. Sad. All love," he reportedly clapped back in the comments. "I"m not one for anyone receiving hate. Hope u all can be kind to my friends and each other. And yes I love my beliebers."

The "Hands to Myself" singer was not about to let Justin"s allegation slide, issuinganother not-so-subtle jabtoward the crooner on Instagram."Funny how the ones that cheated multiple times, are pointing the finger at the ones that were forgiving and supportive," she added. "No wonder fans are mad. Sad. All love."

The digital sparring continued as Bieber responded again with some even biggerallegations."I cheated...Oh and I forgot about you andZayn[Malik]?" he reportedlycommented, according toscreen grabsthat have since gone viral.

Gomez did not respond right away, and eventuallybacktracked onher statements."What I said was selfish and pointless," she wrote on Snapchat late Monday night.

Bieber took things a step further and decided to delete his Instagram account all together.

Source: http://www.eonline.com/news/787992/sofia-richie-weighs-in-on-the-justin-bieber-and-selena-gomez-drama-love-who-you-want

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