Halister News

(Bloomberg) -- Brexit campaigning will be suspended for a second day and it may give voters and investors an opportunity to pause and reflect on what really matters.

• Although it could be a while for a motive to be established for the murder of Jo Cox, as the police investigation runs its course, few people will doubt that U.K. society is deeply split on Europe
• Brexit has been overhanging investment decisions across global markets to such an extent that even a surprisingly dovish FOMC statement this week was mostly ignored
• The Bank of America Merrill Lynch global fund manager survey for June shows cash levels at 5.7%, the highest since November 2001
• Financial markets have been running to extremes as investors are bombarded with various doomsday scenarios that may play out after the U.K. referendum
• Yet, it’s possible that the extremes seen in markets on June 16 will mark a watershed moment
• Click here to see a chart of sterling volatility which this week touched levels last seen in October 2008
• Betting odds on the leaving EU may also be peaking; click here for a chart
• If Britain’s leaders supporting the remain camp use this weekend to effectively focus on the economic arguments, the mood in markets next week may swing positively
• NOTE: Mark Cranfield is an FX strategist who writes for First Word. The observations he makes are his own and are not intended as investment advice