Uncertain WTF happened today in every market? Reuters has the unbelievable answer…
As shocking as that Reuters’ headline is, it appears – for now – to be exactly the catalyst that sparked panic-buying in Sterling, on hopes that a Brexit vote may be delayed, which in turn lifted all risky boats dramatically…
Sterling recovered from a two-month low against the euro on Thursday and rose versus the dollar, extending gains after British police said Jo Cox, a lawmaker for Britain’s opposition Labour Party, had died after being attacked earlier in the day.
Cable shot up…
And everything else moved…
Or was today’s move simply an overbought bounce as US equities head into option expiration tomorrow… That’s what the venerable Art Cashin thinks…
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