Brexit :Sterling Slammed, Gold Gains, Stocks Sink As Votes Counted

Politics

 

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The first section of the UK to have its votes counted is the Sunderland Section.

This area was expected to come in as a LEAVE win due to its demographics. The area is predominantly middle aged workers that were expected to vote for an Independent England. BUT NOT LIKE THIS.

The tallys are approximately:

  • LEAVE: 82,000
  • REMAIN: 52,000

This blew away estimates. And is causing a panic in the markets

 

  GBP: Down over 3% in the blink of an eye

 

 

 

 

 

Gold Gains on the News

 

 

SPUs Sink

 

ADDITIONAL INFO WILL BE ADDED TO THIS ARTICLE AS THE RESULTS UNFOLD

  • Sources say weather related low turnout may be skewing results. Apparently Millenials melt when wet?
  • Swindon comes in LEAVE
  • BBC says Northeast secions will likely net a LEAVE vote.
  • GBP makes a low of 1.4295 before bouncing= DN 4% from settlement
  • Gold up almost $11.00 at 1267 last
  • FTSE smashed 2%
  • Kettering District votes LEAVE- expected
  • Dundee REMAIN
  • N. Antim LEAVE
  • Lagan Valley: LEAVE
  • Hartlepool: LEAVE
  • Gold: 1269 last, up $12
  • Crude down 72 = -1.44%
  • GBP - 2.1%
  • SPU -12 handles 2094 last
  • FTSE -134 @ 6151 last

CONJECTURE

Reasons:

  • Low turnout- people thought it was in the bag and stayed home
  • Demographics and weather- old people vote, millennials don’t
  • All that said, its early and the northern region was expected to vote LEAVE… it’s the margins that are scaring people combined with the light turnout  - Soren K. 8:57 ET

REALITY CHECK

  • Only 1MM votes tallied
  • 32MM more to go
  • Northeast expected to be LEAVE biased - Soren K. 9:01 ET

HERE COME THE REMAINS

  • Renfrewshire REMAIN
  • London REMAIN

LONDON BOOKMAKERS- PICK EM - Soren K. 9:06

 

CURRENT TOTALS

  • LEAVE 53%
  • REMAIN 47% - Soren K. 9:08 ET
  • GBP- Another sell wave is hitting now DOWN 4% - SK
  • FTSE DOWN 3%
  • GOLD TRaDES 1280- SK

 

Final thoughts before signing off for the night  9:20 ET

  1. The margin that the LEAVE sections won by has been unexpected thus far

  2. Poor turnout is likely a factor hurting the REMAIN vote

  3. The GBP is down 900 bips from its hi yesterday 1.50 to 1.41

  4. Gold is zooming 1281 last

  5. Global Stocks are hammered

  6. THE CITY OF LONDON HAS MORE VOTERS THAN ALL OTHER REGIONS COMBINED and WILL VOTE REMAIN

  7. LEAVE bets are paying 1 to 3 now- but that is meaningless. It is just bettors covering their other bets.

Good Luck - Soren K.

 

 

STRAP IN FOLKS, IT WILL BE A WILD NIGHT

 

 

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