Why worry later, when you can do it all right now? That sums up this market, which has catapulted itself into fretting over a couple of looming events: Brexit, still 12 days out, and the Fed meeting, just a few days away. Here’s fresh word on the Brexit vote from Deutsche Bank’s Jim Reid, who surveyed 1,000 investors at the DB European Leverage Finance conference.
A whopping 83% predicted voters will support the U.K.staying in the EU, while 17% said the result will be for an exit — which doesn’t really jibe with the polls that have been whipping the pound around. “One would have to say that a ‘Brexit’ is probably not priced into markets, whatever that outcome might be,” says Reid. Judging by recent action, the suspense could just keep killing this market slowly. FULL REPORT