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BoE's Carney: disorderly Brexit would result in weaker economy and higher unemployment

Headlines continue to pour in from the BOE Governor Mark Carney's post-Financial Stability Report (FSR)/Bank Stress Test Results press conference.

Key quotes:

   •  A disorderly Brexit will cause slower growth and higher unemployment
   •  In a sharp disorderly Brexit, there would be economic impact on households and businesses and there would be "some pain" associated with that
   •  It will also cause a weaker currency and lead to higher interest rates, all things equal
   •  Some evidence of heightened risk premia for some UK assets
   •  Banks need 18-24 month Brexit transition period
   •  Fintech could have profound consequences for business models of existing banks
   •  UK finance ministry considering all options for mitigating Brexit risks to derivatives and insurance contracts

Gold retreats farther from $1300 mark/6-week tops

   •  A modest USD recovery/pickup in the US bond yields weigh.    •  Fedspeak/developments surrounding US tax bill in focus.  Gold struggled to bui
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Sweden Retail Sales (YoY) below expectations (3.4%) in October: Actual (2.6%)

Sweden Retail Sales (YoY) below expectations (3.4%) in October: Actual (2.6%)
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