FTSE futures are down 4.5%. The DAX is off by 2.7%. Our futures are down a little less than 1%. Dow futures were down 350. This is a very fluid situation and things can change rapidly. Nevertheless, it goes to show you the risk that was being ignored during today’s tape.
Some risk off assets are rising: gold +0.6%, US 10yr bond is soaring, Bitcoins are higher by 4% etc.
The British pound is off by around 2.3%.
All of these numbers were a lot worse just a few minutes ago, so stay tuned.
UPDATE: The vote is just about 50-50 now.
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Now someone thinks they know something that’s the opposite of what they thought they knew during the day today.
http://www.bbc.com/news/politics/eu_referendum/results
Doesn’t look good for Remain considering many of the Scottish votes have already been tallied.
IF IT’S NOT SCOTTISH IT’S CRAP!!!!
The mayhem in the futures is hilarious. I’ve never seen such volatility in the futures based solely off changes in poll results in the range is 1% – 2%
http://www.cnbc.com/2016/06/23/live-margets-edgy-as-voting-closes-in-historic-eu-referendum.html
There’s the Big guy. Hat tip.
Brexit through the gift shop.