Well, it looks like BREXIT will happen after all. Why else would Theresa May drag old Boris out from the dusty furniture and appoint him foreign secretary? I understand she is filling her cabinet with REMAIN folks too. But Boris was the fucking lightning rod, along with the quitter Farage, for this movement. Unlike Farage, who feels like he needs to have his little life back after plunging his nation into disarray, Johnson will try to lead his country via this new role.
Markets seem to agree. The pound is off by 0.82% and bonds are back in vogue again, as investors sashay in and out between risk on and risk off assets. Today is a risk off day, for those of you who are keeping track.
This is, without question, the biggest story of the day–even bigger than D. Gartman liking BAL.
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