Soaring Brexit Fears Spark Global Flight To Safety, Send 10 Year Bunds Tumbling Below 0%

from Zero Hedge

The Fed’s June rate hike decision is due in just over 24 hours, but at this moment nobody cares for two reasons: the market implied probability of a rate hike announcement is 0% (technically, less than zero), and, as DB puts it, “the UK EU referendum is suddenly totally dominant in financial markets” – the increased focus comes as the leave campaign has gathered steam as 4 polls yesterday afternoon/evening put the ‘leave’ campaign ahead.

  • ICM phone and online poll showed 53% would vote to leave EU and 47% to remain. (Guardian)
  • YouGov/Times poll showed 46% would vote to leave EU and 39% to remain. (The Times)
  • ORB/Telegraph poll showed 49% would vote to leave EU 48% to remain. (The Telegraph)

But it’s not just the volatile polls this time: overnight Britain’s biggest selling daily newspaper The Sun has backed the campaign for the UK to leave the European Union, delivering a major boost to the Brexit camp just nine days before the EU referendum.

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