Critical information ahead of the U.S. market open
by Barbara Kollmeyer
Some bargain hunters are moving in this morning, and that’s pushing stocks and the dollar higher. But let’s not kid ourselves, there’s still a fair amount of panic out there.
About “now seems the appropriate time to start panicking” about Brexit, says Standard Bank G-10 strategist Steve Barrow in a note, according to Dow Jones Newswires.
That’s all down to those pesky opinion polls, which keep shifting toward a vote for the U.K. to leave the EU, which means Standard and other banks just can’t relax about this whole thing.
“On the financial markets, there is nothing they can do; it will just hit them,” Adam Posen, president at the Peterson Institute for International Economics, told the New York Times.