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Markets Have That Brexit-y Feeling as Americans Head to the Polls – Bloomberg

Parallels in price action and voters’ concerns.

by   (t LJKawa)

Donald Trump has predicted that today will be “Brexit times 10” for the U.S.

There are many well-documented parallels between large swaths of the electorate in the U.K. and the U.S.: mistrust of the elite, concerns about globalization, and fears about immigration.

The Republican presidential candidate, who has styled himself “Mr. Brexit,” might be on to something. In financial markets, the price action in the run-up to this vote is similar to what markets were doing just months ago before the vote for Britain’s exit from the European Union.

One big difference between then and now: The Americans heading to the polls today are, by and large, a far more ethnically and racially diverse group than the U.K. voters in June.  Read More…