The forces of global deflation had been accelerating long before Brexit, however, the historically massive devaluation of the British pound, monkey hammered global markets ex-S&P 500. Brexit was not just a repudiation of the EU, it was a de facto repudiation of the City of London, and Global Financialization...
The biggest losers on the week were Global Financials, European stocks, China, and Japan...
Chinese Yuan (6 day rate of change):
Contrary to the dunced narrative of the day, U.S. yields going lower is not "bullish" for stocks...
JPY and Treasury yields are now trading 1:1