In less than two weeks, our friends across the pond will vote whether or not to stay in the European Union. Global markets, worried over what a Brexit scenario might looking, needed to pop a Xanax like yesterday. BlackRock's head of global bond strategies doesn't think markets are freaking out enough, "treating the possibility of Brexit as a local event rather than a globally systemic risk." The president of the European Union has said a vote to leave could herald the end of "western political civilization itself." Investment manager Lothar Mentel put the possibility of a crash following an exit vote at "likely." British banks have borrowed $3.47 billion in cash, just in case the outcome is GTFO. But how will things actually shake out come June 23? Polled today, a bunch pigs hailing from Southwest England and known for their predictive powers say this whole this is muchado about nothing.
The pigs of Pennywell Farm in Devon successfully predicted the outcome of Britain's national election last year and are again fighting it out on the track in some political racing that rival the "Remain" and "Leave" sides' own campaign battles...Racing for the "Remain" camp are 'David Hameron' and 'George Hogsborne', a play on the name of finance minister George Osborne. For the "Leave" camp the racers are 'Boar-is Johnson' and 'Iain Duncan Sniff', a reference to leading Eurosceptic and Conservative ex-cabinet minister Iain Duncan Smith...Once the starting gate was opened, spectators cheered as David Hameron, George Hogsborne and Iain Duncan Sniff rushed off, easily clearing the hurdles, while Boar-is Johnson trailed behind. The result in the end was decisive. "We've had three votes for staying in the EU and just one for leaving," the race compere announced. Pennywell Farm will conduct the races daily up until the vote.
We'll keep you posted on any important developments down at the track.