BREXIT IS HERE!

Britain’s vote to leave the European Union. This drove a rush for the safest assets (i.e. Bonds). Financial markets are on a wild roller coaster,” Mohamed El-Erian, the chief economic adviser at Allianz SE and a Bloomberg View columnist, said in a post on Twitter. BREXIT is HERE!

The pound plunged and the yen strengthened beyond 100 per dollar while Japanese and Australian bond yields tumbled to record lows. For the interim this means a sharp drop in interest rates, lowest since 2/2015. Might just be a small window of opportunity to take advantage before the markets stabilizes.

 

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