It could be a wild weekend in late June if all the crises come to a head
by Matthew Lynn
LONDON (MarketWatch) — The hedge funds will have prepped their positions. The investment banks will have ordered in pizza and extra coffee ready for a long night of dealing. Exit polls will have been commissioned, and currency traders will be ready to buy or sell sterling GBPEUR, -0.9223% as soon as they start getting a clear idea of whether Britain has voted to stay in or get out of the European Union on June 23.
But hold on. In fact, it is not just the risk of Brexit that the markets need to be worrying about. In truth, the real drama is going to come over a long and difficult weekend, leading up to potentially wild day in European assets on Monday, June 27.