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Pound Slides As Three Tory MPs Quit Party And Join "Independent Group"

And just like that...the newly formed "Independent Group" is now larger than the DUP - the Irish unionist party that has allied with members of the ERG to sabotage Theresa May's Brexit deal. After the eighth Labour MP departed the party Tuesday night to join the newly formed group, which was created earlier this week when seven Labour MPs announced they would leave the party over its failure to adequately oppose Brexit (as well as its inability to eradicate antisemitism in the party), the "nonpartisan" group has officially achieved bipartisan status... -Zero Hedge

Fly Intel: Top five analyst upgrades

Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. McDonald's (MCD) upgraded to Overweight from Equal Weight at Stephens with analyst Will Slabaugh saying McDonald's core U.S. business is accelerating and positioned to show upside to consensus estimates for Q1 and fiscal 2019. 2. PG&E (PCG) upgraded to Buy from Neutral at Citi with analyst Praful Mehta saying recent comments by California Governor Gavin Newsom indicate an "increasingly likelihood of legislative action." 3. PepsiCo (PEP) upgraded to Outperform from... -The Fly

Hedge Fund CIO: "The Rich And Powerful Always Win"

Submitted by Eric Peters, CIO of One River Asset Management Hope all goes well… Dusted off an anecdote from 2015 on what led to today’s growing backlash against inequality, injustice Anecdote (Jan 2015): "The rich and powerful always win; that’s the starting point," said the clear-eyed cynic, more interested in making mountains from molehills, than tilting at windmills. "When upstarts periodically challenge their dominance, buying leveraged assets at wide credit spreads, central bankers throw the economy into recession, bankrupting new money... -Zero Hedge

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