Monday, June 27, 2016

Under Globalization, All Risks Are 100% Correlated. To The Downside

No surprise, oil is falling alongside stocks, in the pre-market...

Overnight the big story was UK banks halted limit down. A new 30+ year low in the Pound Sterling amid total political anarchy. And the PBOC losing control of their currency...

This chart shows the rate of change in the Chinese Yuan with the S&P: