Did Brexit Create a Central Bank Inflation Trade-Off?
Precious metals led commodities higher, boosting mining stocks, on speculation central banks in some of the world’s leading economies will step up monetary stimulus in the wake of Britain’s decision to leave the European Union. Silver touched a two-year high and gold rallied for a fourth day after the Brexit vote spurred demand for havens. Brent crude held above $50 a barrel as Nigerian militants threatened more supply disruptions, while nickel climbed to an eight-month high after the Philippines announced plans to audit all mining operations. Miners in the Stoxx Europe 600 Index traded at the highest level since April, while automakers and builders led the industries lower. Citigroup Global's Antonin Jullier discusses with Anna Edwards on "Bloomberg Surveillance."