Will 'Unreliable Boyfriend' Carney Change Course?
A measure of implied overnight volatility for the pound versus the dollar jumped as traders sought protection from outsized price swings before a Bank of England interest-rate decision on Thursday. The gauge rose as swap prices indicated a more than 99 percent chance of a cut by the central bank. The measure touched the highest level on record on June 23, the day of Britain’s European Union referendum, and spiked again before the BOE’s July meeting, its first since the historic vote to leave. PIMCO Portfolio Manager Geraldine Sundstrom discusses with Bloomberg's Francine Lacqua on "The Pulse."