Global Stocks and Bonds Fall Sharply – Gold Consolidates After Two Weeks Of Gains

Global stocks and bonds fell the most since the Brexit panic today as recently dormant volatility came back with a vengeance.  There are deepening concerns that global central banks’ ultra loose monetary policies have been ineffectual and may indeed be creating asset bubbles in stock, bond and indeed property markets internationally.

Source: Bloomberg

European stocks fell sharply with the Stoxx Europe 600 shed 1.8% by late morning and leading European indices down by roughly 2%, on course for their biggest losses since June.

In Asia,  Hong Kong’s Hang Seng Index fell 3.4% in its worst day since February. Stock markets in Shanghai, Japan and Australia all closed with losses of around 2%.

U.S. stock futures pointed to a 0.8% opening loss for the S&P 500 after on Friday, it saw its biggest daily drop since the U.K. referendum. Read full story…