OT: UK Separating From EU?

TEXIT coming next

And the pound's drop in value is not a disaster. It makes their goods
much more competitive. I'll prolly spend more when I'm there in a few
weeks.

A British vote to leave the European Union sent sterling plunging on Friday and hammered equities across the world as turmoil swept through global markets.

Such a body blow to global confidence could well prevent the Federal Reserve from raising interest rates as planned this year, and might even provoke a new round of emergency policy easing from all the major central banks.

Risk assets were scorched as investors fled to the traditional safe-harbors of top-rated government debt, Japanese yen and gold.

Billions were wiped from share values as FTSE futures fell 7 percent FFIc1, EMINI S&P 500 futures ESc1 5 percent and Japan's Nikkei .N225 7.6 percent. European stock markets were set to open more than 10 percent lower STXEc1.

The British pound collapsed no less than 18 U.S. cents, easily the biggest fall in living memory, to hit its lowest since 1985. The euro in turn slid 3.2 percent to $1.1012 EUR= as investors feared for its very future………

RECESSION FEARS
Europe's natural safety play, the 10-year German government bond, surged to send its yields tumbling back into negative territory and a new record low. [EUR/GVD]…………

The rally did not extend to UK bonds, however, as ratings agency Standard and Poor's has warned it would likely downgrade the country's triple A rating if it left the EU…………..

"It adds weight to the camp that the Fed would be on hold. A July (hike) is definitely off the table," Mike Baele, managing director with the private client reserve group at U.S. Bank in Portland, Oregon.

Fed funds futures were even toying with the chance that the next move could be a cut in U.S. rates………

Many see this as an omen that reads... President Trump.