3 Markets – 3 Totally Different Brexit Reactions –MM #108

We begin by analyzing the market reactions to Brexit, this time with some perspective and 3 totally different reactions. We then continue to topics that have been buried under Brexit and end up with a preview of the week.

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  1. Post-Brexit movements: There was a stark difference between the reaction in currency markets, the non-stop fall in bond yields and the big turnarounds in stock markets, an “EU-turn” if you wish. We provide the background for the market wobbles and look forward to the next moves.
  2. ICYMI: The Fed went dovish, the Chinese are devaluing their currency even more than in the big crash last summer and other events that are usually big market movers have slipped under the radar. We unveiled them.
  3. Preview: After a well deserved 4th of July holiday in the US, we have a mix of rate decisions, the Fed minutes and the full NFP buildup.

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