the city's infamous drinking culture not
being what it once was investors in the
UK might not all get the chance to see
the brexit beer mats that pub chain
wetherspoons will roll out ahead of this
month's referendum but not to worry
markets have entered June with enough
referendum chatter to leave even the
most sober trader feeling lightheaded
leading the way is the world's largest
asset manager Blackrock which declared
itself wary of the sort of short-term
risk that breaks it poses to stocks that
was followed by a gloomy warning of
economic shocks from the OECD and a
surprise poll that put leave votes ahead
financial markets had virtually given up
on the idea of leave vote in May
resulting in a rally in the pound and in
Titus spreads across peripheral
sovereign bonds as investors abandoned
the idea of a split reverberating across
other discontented European regions now
investment houses are starting sent a
little bit less sure of themselves the
chief executive of Hermes investment
management told investors on wednesday
that they would be wise to brace
themselves for brexit currency traders
are already taking heed and reacted to
the latest poll by sending sterling down
sharply to a two-week low against the
dollar UK government bonds experienced a
rally sending yield on benchmark 10-year
debt to a two-week low of one point
three seven percent investors without
the resources or the inclination to
Commission private exit polls in the
manner of hedge funds might be inclined
to lighten their position in so called
risk assets at this point but for those
who do not believe the UK will vote to
leave the European Union the narrowing
polls offer an opportunity if the UK
does vote to stay and uncertainty in the
lead-up could lead to a post brexit
bounce that could lift sterling raise
equity prices and tighten bond spreads
in countries such as Italy Portugal and
Spain this is the sort of easy
calculation that can even fit on the
back of a beer mat