SILVER: The Second Best Performing Asset in the World YTD [in USD]

from Zero Hedge:

After a volatile end to June in the aftermath of the Brexit vote, markets in July bounced back from the initial post-Brexit fallout. As DB notes, the majority of equity markets in particular are either back to or above pre-Brexit levels with the sole exception to that still being European banks, where Italian bank and general profitability concerns have been at the forefront.

While the STOXX Banks index gained by +6% this month and was one of the top five performers, it still remains in negative territory since Brexit (-12%). Much of the general rebound elsewhere can be attributed to the renewed hopes of central bank policy remaining accommodative. In the case of the BoE and ECB, expectations are high for further easing despite remaining on the sidelines in July and instead waiting for the post-Brexit data. Despite what was a relatively disappointing BoJ meeting on Friday, markets are waiting for fiscal stimulus.

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