Okay. The political and financial landscapes have been altered by last night's upset "Leave" vote in Britain and now we have to try and make sense of the new terrain.
When I left my computer for an evening event last night (at 5:30 p.m. EST on 6/23/16), these were the headlines I was seeing:
The British pound had been pretty much flat all day. It then then spiked higher towards to a new 6 month high near the day's close as the early returns seemed to confirm the final polls that showed the “Remain” vote as winning:
The US equity markets were feeling frisky, too, at the prospect of 'Remain' carrying the day:
Again, the general consensus was very confident of a Remain victory with a late day surge as the early exit polls came in.
All the world markets were confirming that 'Remain' was "in the bag".
For the record, that was certainly what I was expecting, too. It's become too common that big election returns mysteriously go the way that the ruling powers want them to go. This was the case in the recent Austrian election where the far right candidate was ahead by 144,000 votes (standing at 51.9% of the total) at the close of the polls but then, once the mail-in votes were counted, somehow lost those by a 62% to 38% margin to just barely lose the election (to call this an odd turnabout is an understatement).
The Shock Develops
By the time I got home at 10:30pm EST, everything had changed. I sat glued to my computer screen for hours as the 'Leave' vote pulled ahead of 'Remain' and just kept pulling farther and farther away.
by davefairtex 
