Tag Archives: Jo Cox

Summary Sterling’s losses are not simply a product of thin liquidity or panic. Both main political parties are in disarray just when strong leadership is needed. The rough projection pre-vote of what could happen on Brexit suggests $1.20-$!.2750. This Great Graphic shows sterling’s monthly performance since 1971, according to Bloomberg data. There have been several powerful trends. The rally from $1.40 to $1.50...

Major data this week: German Constitutional Court ruling on OMT. UK referendum. EMU flash PMI. ECB TLTRO II launch. Yellen testifies before Congress, RBI Rajan to step down in early Sept. The Chair of the Federal Reserve testifies before Congress on Tuesday and Wednesday.  Given the recent FOMC meeting and Yellen’s press conference, it is unlikely new ground will be broken. It is difficult for the market to price out...

Sterling In the days ahead of the murder of Jo Cox, a UK member of parliament, apparently for her support for remaining in the EU, speculators in the futures market scooped up sterling.  They added 25.4k sterling contracts to lift the gross long position to 61.7k contracts.  This is the second largest long speculative position after the mid-March holdings of 62.9k long contracts. In the previous CFTC reporting...

The assassination of Jo Cox, a member of the UK parliament is a personal and political tragedy.  Her needless death provided an inflection point.  The suspension of the referendum campaigns and a steady stream of reports and speeches has the emotionalism of contest freeze.  Investors quickly understood that the Cox’s death injected a new unknown into the forces that seemed to build toward a decision to leave the EU....

The assassination of the Jo Cox has broken the powerful momentum in the markets.  Investors recognize that the tragedy potentially injects a new element into consideration for the outcome of next week’s referendum.   The campaigns will be resume over the weekend, and new polls will be available.  Investors will place more weight on polls conducted after the assassination. The UK referendum is the big event next week. ...