JPM analyst says central banks rigged markets after Brexit

Wednesday, August 3, 2016
By Paul Martin

By: Chris Powell, Secretary/Treasurer, GATA
GoldSeek.com
Wednesday, 3 August 2016

The financial news Internet site Value Walk reported today that JPMorganChase’s quantitative and derivatives strategy chief, Marko Kolanovic, this week issued a report asserting that the rise in stock markets after the United Kingdom’s vote to withdraw from the European Union was caused by central bank intervention:

http://www.valuewalk.com/2016/08/kolanovic-volatility-collapse-fake/

That this qualifies as insight is pretty funny, considering that, a few days ahead of the vote in the UK, central banks actually announced their plan to intervene:

http://www.gata.org/node/16519

But Value Walk contends that Kolanovic’s conclusion is notable because it marks the first time central banks have been accused by an investment bank research report of “such direct market manipulation.”

The Rest…HERE

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