Stocks, Bond Yields, & Cable Tumble After ICM 'Brexit' Poll Swings Dramatically To "Leave"

In May, ICM's poll showed a 10-point lead for "remain" in the UK's EU referendum. This morning, after rumors spread of a big "remain" poll, sending GBP higher.

In May, ICM's poll showed a 10-point lead for "remain" in the UK's EU referendum. This morning, after rumors spread of a big "remain" poll, sending GBP higher, ICM just released the details of their latest poll showing a massive swing to 53% leave, 47% remain. Cable and S&P Futures are tumbling...

And bonds are ripping..

May ICM poll:

  • Online Poll: 43% Remain, 47% Leave
  • Phone Poll: 47% Remain, 39% Leave

And the latest from ICM:

“These results are consistent with the generality of numbers over the last couple of weeks, in which there has been some weakening in the remain position. It was already plain that this race was far closer than the prime minister intended, and he must now be feeling discomfort at the thought that the outcome really could be in doubt. ”

So a swing in phone polls from -8 to +6 in a month! So much for Project Fear...

 

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