Britain's pro-EU side nervous as odds slashed on 'leave'

The EU Referendum takes place next week
The EU Referendum takes place next week
Author

16 June, 2016

Stocks in Asia have fallen.

At 2:19 pm, the Dow Jones industrial average .DJI was down 0.47 percent to 17,649.82 points and the S&P 500 .SPX had lost 0.42 percent to 2,070.32. Now they are claiming that if we leave the European Union they'll be spending more money on the NHS, building more schools and protecting workers' rights. "But for this to persist, employment growth needs to stabilize, and the Fed's more dovish shift, as represented by Chair Yellen's June 6 speech, needs to last", he added. The Fed had been expected to raise interest rates, but following some weak economic data, including the most recent monthly jobs report, it now appears likely to wait. They are pricing in a 21 percent chance of a rate hike in July, a 40 percent chance in September and a 59 percent chance in December. Consumer prices rose 0.3 per cent in May compared with a year ago.

MSCI's all-country world stock index fell 1.12 percent while European shares fell for a fifth straight session.

Chinese stocks took in their stride the fact that MSCI again declined to admit Chinese domestic shares to its main emerging markets index.

Britain's blue-chip FTSE 100 share index rose almost 1 percent, nonetheless underperforming the pan-European FTSEurofirst 300 index, which was up 1.2 percent, breaking a five-day Brexit-induced losing streak. Daily Mail Online also received a letter from three celebrity physicians in the United Kingdom that contend a Brexit would put geriatric care at risk and jeopardize significant research funds, according to the report.

Safe-haven German Bund yields fell below zero for the first time, while industrial commodities and equity markets, seen as more vulnerable to economic risk, dropped after polls showed Britain's "Leave" campaign leading ahead of the June 23 vote on European Union membership.

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Bank shares in Europe fell for seven consecutive sessions through Tuesday, shedding over 10%, with Italy's troubled lenders facing increasing pressure.

The IFS claims to be "politically independent", yet receives 50 per cent of its money from the United Kingdom government and 10 per cent from the European Research Council (ERC) - financed by the EU and established by the European Commission.

Strong demand for German sovereign bonds, known as "Bunds", caused prices to peak, in turn pushing their yields into negative territory for the first time ever.

She said: "I would use dips in markets as buying opportunities even in a Brexit vote, because the world won't end". Yields in Italy, Greece, Spain, and Portugal, however, continued to fall.

Gold pulled back 0.3% to $1,284 an ounce, while the dollar rose 0.3% against the yen to Yen106.2950 after hitting its lowest 5 p.m.NY rate since September 2014 on Tuesday.

The relatively high interest rates - 0.87 percent for dollars from the Fed to the ECB, for example - is meant to keep the facility expensive enough so banks would only use it in case of real difficulty.


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