China markets were once again denied the coveted inclusion by MSCI in a further setback to the markets.

Brexit worries are preventing new market highs as trades are unwound ahead of the June 23rd vote and hopes are alive that the Fed will say something, anything that will reignite a flame for bulls to keep buying…

What to make of the VIX? Microsoft’s purchase of LinkedIn and more…

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Markets in a bit of a tailspin after the latest Brexit poll. With the Fed meeting this week – is this just a way of pressing on the Fed to not do anything?

Retail sales for May came in slightly better than expected, but still nothing to get too excited about.

– U.S. luxury fashion retailer Neiman Marcus Group Ltd LLC reported its third straight quarterly drop in sales at established stores and a nearly 81 percent fall in profit amid a slowdown in apparel spending.

– What is going on with higher end retail ???

The VIX – skyrocketing – 50%+ over past few days to a high of over 21 today. Was under 13 last week. The last time  we saw this lvel was back in February as markets were being sold off in a hard correction. Moves like this often signal bottoming potential as many are seeking to buy protection at any price.

Microsoft (MSFT) buying LinkedIn (LNKD) for 50% premium – about $25 billion. Any other targets?

– LinkedIn down 13% YTD even after the $196 price paid…

– Twitter shares surge on the report as hope is alive that they will become a target for acquisition

Brexit – the polls now show a lead to the LEAVE side of things – markets are moving along with every headline. Some listener emails about what will benefit and what will see more problems.

Apple WWDC – anything exciting???? Stock did not price as anything was incrementally beneficial….

MAC

* Mac OS will feature universal clipboards for copying and pasting across devices.

* Mac OS will allow desktop saved files available for download from iPhone and iPad.

* Mac OS will feature Apple Pay for the web.

* Mac OS will feature SIRI for Mac

TV

* Apple TV now has 1300 video channels.

* Will feature ability to watch 4 sports games at one time through Fox Sports Go (FOXA).

* Apple TV will feature Sling TV with many cable channels.  (DISH, NFLX)

* Apple TV introduces TV remote applications where you can change channels from iOS device without reaching for Apple TV remote.

* Apple TV will feature ‘Dark Mode’

* Apple TV OS will available this Fall.

Watch

* New WatchOS accelerates application launch time.

* New WatchOS will feature a ‘dock’ feature for recently used apps on the Watch.

* Will have feature to reply to messages without tapping reply.

* New WatchOS will allow users to write on the screen.

After a seemingly interminable wait, the yield on Germany’s 10-year sovereign debt has dropped below zero for the first time. The shift into negative territory is part of a continuing trend across global markets that has seen record low yields and surging volatility in developed market sovereign debt.

Investors will be watching China as MSCI Inc. is set to announce early Wednesday local time whether they are going to include mainland shares in their global benchmark indices. NO! Declined for the second time around. MSCI said China had made “significant steps̶...