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Brexit wins! UK peasants revolt, world markets crash

WASHINGTON, June 24, 2016 – As we write this on Friday at 7 a.m., traders and investors—or at least those who weren’t up all night—are waking up to the news that, contrary to polling data and late bookmaking odds in London, U,K, voters have decisively voted to leave the European Union (EU), a process that’s ...

The ‘Brexit’ and interest rates: Black Swans on the horizon?

WASHINGTON, June 6, 2016 – Monday morning markets are off to the races, at least as of the noon hour. Today’s rocket fuel? Apparently upon re-thinking the issue, traders have decided that last week’s bad news on employment is good, meaning that companies can continue to use cheap, low interest-rate financing to buy back shares, ...