Chan and the World


Tracking Brexit and Stock Market reaction

Brexit referendum vote is on June 23. Before the assassination of pro-EU politician Jo Cox, polling results favored the “Leave” campaign with 52% wanting to leave the EU bloc. But now the scale has slightly tipped in favor of the “Remain campaign”. But with 4 days still to g, before the final vote there is no clear winner. The market has started preparing for this uncertainty by selling off last week. The historical chart of Volatility index shows very low volatility over the last few months. But if the “Leave” group wins the referendum I expect a sharp sell off…

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