Hedges Soar, Markets Snore As Traders Brace For Big Brexit Day
By Tyler Durden
Some nostalgia… “some poeple are on the pitch, they think [Brexit]'s all over… it is now!!”
Although we suspect, by this time tomorrow, the sounds from trading floors around the world may be more like this…
Polls point to “Leave” and Bookies' money-flows tipped towards “Leave” today…
It appears the professionals are tracking the polls…
Volume cratered…
Black swan bets soared…
And Short-term VIX soared to 26.5 today, highest since mid-Feb…
Stocks ended the day modestly lower…
Once again the machines tried to run the S&P to 2,100…but as soon as VIX dipped below 18, that was over…and VIX ended above 21
Hedges are bid…
Musk'd!!
Treasury yields ended the day around 2bps lower, helped by a strong auction…
The USDollar Index slid today (4th time in last 6 days)…
As Cable ended the day higher but jerked lower on polls and weather (after an algo meltup at the US open)
Despite a slide in the USDollar, commodities largely trod water with only crude the big mover…
Lower than expected inventory draws and brexit derisking sent crude sharply lower…
Charts: Bloomberg
Bonus Clip: The Countdown has begun…
Source: Hedges Soar, Markets Snore As Traders Brace For Big Brexit Day
