Global equity markets only care about one thing right now, and that's Brexit. With the vote coming up on Thursday, markets are becoming increasingly responsive to the latest poll figures.
Today's rally, in which the Global Dow Index rose nearly 2%, was driven by new poll readings suggesting that the U.K. is more likely to remain in the European Union than previously thought.
The STOXX Europe 600 rose 3.6% on this news and the British pound rose over 2% against the dollar.
Equity markets in the U.S. enjoyed gains as well, with the Industrials finishing up 129 points. The Transports rose 1.2% while the Nasdaq and S&P 500 rose 0.8% and 0.6% respectively.
In all fairness, the poll numbers are still very close to 50/50. One could argue that the remain camp has momentum, but this is by no means a done deal.
Catering to the New Investment Climate
By Matthew Kerkhoff
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