Markets awaken on high alert

Markets awaken on high alert

  • admin
  • July 9, 2015

The world’s leading financial centers today face a great test of fire after the Greek referendum.

The state is of high alert among investors, after the results of the referendum in Greece, there are those who fear chaos in currency and stock markets. The situation has led most banks today to strengthen its foreign exchange trading desks before the reopening of markets, anticipating a strong customer demand. This is the case of HSBC and JP? Morgan, who confirmed the Financial Times putting extra personnel. Some banks and market strategists compared the scenario to the referendum on the European Union came out of British law in May, and the consultation of voters on independence in Scotland last September. Events that stress are able to move markets overnight.

The uncertainty was great until yesterday. Some analysts said that markets were not being able to clearly define a perspective view of the Greek crisis, regardless of the outcome. Already strategists at BNY Mellon stressed that financial markets are “perplexed” and that still would be the question on how the crisis can be resolved. “In fact, perhaps the only source of certainty that Monday will bring is a ‘No’ is accompanied by a statement from the Eurogroup blunt regretting the decision of Greece to leave the euro …”, highlighted.

Bank of America and Merrill Lynch highlighted the expectancy of the markets respond positively to a ‘yes’, because a ‘no’ vote would “increase even more uncertainty,” but not necessarily lead to Greece exiting the euro.

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