what you are seeing is the market makers auction, i dont understand how it works tbh, but there are always wide spreads, i would love to spend a day with a market maker, i cant really find any info on how they work.
one market crashes, all markets crash, just like the china thing, so it matters not about the BoE, most of the traders on the US cnbc say fed rate hikes are not priced in, we will have to wait and see though. it could all be scaremongering.
Well, I don't know too much about the Fed, but I would be very surprised to see the BoE raise rates here his year. (Although I guess once the US does it we'll probably follow suit however later on). But looking around in the City I don't see that it necessarily follows that a Rate hike would lead to a Market Downturn. Most of the Multi-Nationals here trade primarily in FI, so any rise in base Rates would have a positive impact to the P&L.
Still, who knows how markets work really? 14 years experience working in them and I ain't figured 'em out yet.. ... Que sera, sera....
i agree DRichi, no one other than the mail has mentioned the 28th, and its a saturday which makes no sense. trigger could be oil hitting $52, but without a clear idea about brexit and fed rate hikes it would be pure speculation. it is a fact that the markets have not priced in two rate hikes this year because traders dont believe it will happen, so we will have to contend that a drop is likely at some point for the markets unless the feds are just all hot air.
I don't think that any serious or respectable commentator has predicted a crash soon, let alone being so specific as naming the date. Out of interest though, why 28th? Is that when Hodgson decides on the final 23? Anyway, Re: Wider Market- nothing much can happen till 23rd June anyway. Then hopefully everybody is smart enough to vote Stay, and our economy can kick-on after that…
Nice to see GWP holding above £5. Looks like our speculation a week ago was right (so far anyway), hope she stays over £5 and kicks-on a bit…..
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