The murder of Jo Cox casts a sad shadow over markets

17 June 2016, 10:30
Sherif Hasan

Yesterday's tragic murder of UK MP Jo Cox leaves many reverberations 17 June 2016

Let no one underestimate the impact of this truly awful event but let's not jump to any conclusions as to why it happened. Conspiracy theorists have no place in these discussions.

Brexit may or may not have been some sort of catalyst but Jo Cox was a forthright and honest politician who defended a number of causes both in the UK and abroad.  Supposed "eye-witness" accounts appear to be flawed.The full explanation will be revealed in due course.

 In any event, the referendum will take place next week regardless and campaigning will likely begin again within the next 24 hours ( latest reports tell us it will resume tomorrow (Saturday). Let's hope at least though that both sides now focus on the key points and avoid further mud-slinging/point scoring in respect for Jo's brutal murder.

As for the clatter of comment about traders taking advantage of this awful event from my own experience I can assure you that most traders/market-makers do not seek to profit from tragedy. It is fair to say though that they have a duty of care to their banks and clients to cover positions accordingly, as indeed do retail traders to cover their own books. As for the algos, when did a robot develop a moral conscience?

So let's try and move forward with some rational reason/perspective in this sad moment that proves, if any proof was needed, that we live ( ands markets operate) in increasingly fragile times

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