The Presidential Daily Brief

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    Yen Soars, Global Economy Stutters Over Brexit Malaise

    Investors are looking for any safe port. With the pound at a 31-year low and falling, those safe ports are bonds, gold and the yen. U.K. asset managers are now prohibiting investors from pulling out of commercial property funds, sparking fears of a real estate slide. Meanwhile, the yen rose in Tokyo trading and the yield on 20-year Japanese government bonds fell below zero for the first time — a trend that’s expected to continue as investors watch the Bank of Japan’s probable rate reduction later this month.

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