NOVACAP Asset Management

The macroeconomic environment in June was obviously dominated by the vote of Brexit on 23 June. Before the vote, it must be admitted that the statistics were pretty good overall. In Europe, GDP growth was positive and the PMI above 50. In the US, statistics were somewhat more mixed, particularly in terms of employment. Also, it seems […]

 June has been a challenging month with the Brexit referendum being the central focus. Defying many opinion polls and betting markets, the British have voted to leave the European Union by 52% to 48%. The initial sharp response of currency and equity markets suggested that the UK vote was a clear surprise for many observers […]