Buy anything, Bloomberg writes. “Even if emerging-market stocks are dipping, most risk assets, including commodities, developed-market stocks, and emerging-market currencies are making multi-month highs, while haven assets such as gold and government bonds are doing the same.” The market disconnect is being tacked up to global central banks that are expected to stay more accommodative for longer. Right now the focus is on the European Central Bank’s corporate bond purchase program.

Meanwhile on Friday, the global rally in government bonds “broke records” while equities “buckled as a combination of anxiety over the world economy and Britain’s referendum on EU membership sent investors racing to safety,” according to the FT (paywall). “To see the 10-year Bund [yield] so close to zero is shocking,” said Philip Brown, head of sovereign capital markets at Citigroup. “Equities are falling and fixed income is rallying in a flight to quality — there are real fears in markets about global growth.”