Referendum money: what the experts think

● Brexit bets Hedge funds and banks are commissioning their own private exit polls to determine voting patterns in the EU referendum, with a view to laying “big bets” on the result, said Chris Giles and Jim Pickard in the Financial Times. Their hope is that they’ll be the “first to benefit financially from a Government-induced swing in sterling since George Soros bet against the pound” in 1992, when sterling crashed out of the European Exchange Rate Mechanism. The cost of a “rudimentary” exit poll is about £500,000, a trifling sum compared to the “potential profits available from finding out whether Leave or Remain is likely to win”. A “modest” rise in the pound is expected if Remain wins, and a sharp drop if Brexit does. Financial markets have recently “all…

You're reading a preview of

The Week United Kingdom (Digital) - 1 Issue, V. 1076

DiscountMags is a licensed distributor (not a publisher) of the above content and Publication through Zinio LLC. Accordingly, we have no editorial control over the Publications. Any opinions, advice, statements, services, offers or other information or content expressed or made available by third parties, including those made in Publications offered on our website, are those of the respective author(s) or publisher(s) and not of DiscountMags. DiscountMags does not guarantee the accuracy, completeness, truthfulness, or usefulness of all or any portion of any publication or any services or offers made by third parties, nor will we be liable for any loss or damage caused by your reliance on information contained in any Publication, or your use of services offered, or your acceptance of any offers made through the Service or the Publications. For content removal requests, please contact Zinio.