Investment Markets Overview — W/E 24th June 2016

The UK people have spoken and they have spoken loud and clearly….they want out of the increasingly intrusive European Union.

The financial markets were certainly caught out, having loaded up on risk-assets following the senseless murder of Jo Cox MP last Thursday after which the opinion polls and the “bookies” noted a turn-around for the “stay camp,” predicting a victory for them right up to the 10pm GMT closing of the voting booths. The stock and currency futures markets peaked at 11.30pm, gently fell until about 2am and then collapsed as it increasingly dawned that the “Brexiteers” were likely to win. The British Pound collapsed from £/$1.50 to 1.32 before a bounce, whilst Japan’s Nikkei gave a taste of European markets to come, as it slumped by 8% coincident to “safe-haven Yen and Gold strength.” In the event the UK’s FTSE 100 index fell by a modest 3.2% on the day, despite Prime Minister Cameron announcing his resignation and versus the Euro Stoxx finest, which fell by 8.6%. There are, of course, other reasons why the European markets took a greater hit and we include a chart depicting one of these reasons under the final section of this overview.

 24 June 16

Subscribe to the Full Investment Markets Overview Newsletter which contains the following:-

Additional Commentaries:
•US economic data . . .
•Euro-Zone . . .
•The UK . . .
•Out East . . .
•The $US index . . .
•Within the commodities complex . . .
•Economic data due next week includes . . .

  So there we have it, an estimated $US2 Trillion was wiped off global stock-markets, the UK credit rating outlook was lowered to negative by Moody’s, political parties of whatever stripes ……

Charts:
1.  Indices Weekly
2. S&P 500 Index V FHFA HPI
3. E-Z Manufacturing PMI V E-Z Services PMI
4. Japan Servies PPI
5. Commodities Weekly

Table:

13 Indices, 11 columns of detailed information, for accurate analysis

“We Live in Interesting….But NOT Surprising Times.

Click Here to view Details of the full version of this Newsletter which includes full text and detailed

 

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