If you thought May was manic, brace yourself for a slew of events this month that could rattle markets


File photo from North Korea's official Korean Central News Agency (KCNA) taken on August 29, 2017 and released on August 30, 2017 shows North Korea's intermediate-range strategic ballistic rocket Hwasong-12 lifting off from the launching pad at an undisclosed location near Pyongyang.Shingo Ito and Park Chan-Kyong / STR/AFP

May was a manic month for markets but brace yourself for June.

The fate of a historic summit between North Korea and the United States is unclear but there are other events on the radar to potentially convulse world markets — from Turkish elections to a Swiss referendum on so-called sovereign money.

Here are six events, listed chronologically, that investors will be watching in June:


Switzerland holds a referendum on June 10 on whether to introduce a sovereign money system that would shake up how its banks operate. The measure, if passed, would bar commercial banks from creating money every time they make a loan.

Supporters want the Swiss National Bank to be the only authority producing new money in the country. But the SNB argues the plan will damage its ability to conduct monetary policy.

If the referendum passes, investors could lose faith in the Swiss franc since money-printing will not be backed by assets. It could also hurt the profits of Swiss banks such as UBS and Credit Suisse.

Opinion polls show just 35 per cent support for the change, but as Brexit and the 2016 U.S. election showed, electoral upsets can happen.


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