I guess this isn’t exactly what they expected from the “good news/relief rally” of a “NO” vote for Scottish independence. The ES is shown in blue and the British Pound versus the US dollar (which one would expect to be exploding higher right now) is in black.
Those 4 C’s are: Confirmation, Crisis, Contagion, Catastrophe.
What type of confirmation could send the financial markets into such turmoil it could rock the very bastions of finance as we now know it?
First: Scotland votes yes to leave the U.K. If this turns out to be so, it could send shock-waves throughout the markets that run the world. i.e., Forex or World currencies.
No one with any financial acumen can look seriously at the markets as they stand at the time of this writing, and seriously argue the markets are prepared for such a resolution happening this Thursday. (more…)
I’m not acquainted with Japanese Prime Minister Abe, but it’s apparent that the man’s wizard-like skills turning his national currency into toilet paper are unparalleled. The US dollar has finally achieved escape velocity versus the yen…….