Please find enclosed an update of the Investment Framework : Brexit, a nasty surprise
- Against our base case and the betting market odds, the British have voted to leave the European Union, ignoring Cameron’s appeals to stay in the EU by 52% to 48%.The negative initial response of currency and equity markets indicates that the UK vote is a clear surprise for many observers and participants and a global risk event with long-lasting political and economic consequences
- The near-term market direction will be dominated by policymakers response to the UK vote and by macro considerations.
- Asset prices adjustments nay have further to go.
The following two tabs change content below.
NOVACAP Asset Management
Latest posts by NOVACAP Asset Management (see all)
- The “Unthinkable” has happened - 9th November 2016
- NHS Sicav – MC Bolero Global Allocation Fund– Fact sheet – October 2016 - 9th November 2016
- US presidential elections – Are markets bracing for a major shock in November? - 2nd November 2016