Well, apart from the chaotic General Election in the UK. Oh – and the decisive win for Emmanuel Macron in the French parliamentary elections. And the start of the Brexit negotiations. And Italy was forced to bail out two more banks. President Trump pulled out of the Paris climate change agreement – and in Brazil, President Michel Temer was accused of corruption – the first sitting President in Latin America’s largest country to face criminal charges. Anything else? Just another global ransomware attack… Continue reading →
Well it’s all over finally and the UK has got a result, we are leaving the EU. So what now for the financial markets? Well quite simply it is business as usual. And of course this was always going to be the case no matter which way the result had gone.
You may recall David Cameron commenting recently about flashing dashboards when mentioning the Eurozone and continuing austerity cuts here in the UK. So do we need a new car or does the driver just need to understand what the flashing lights actually mean? Firstly I would say that David Cameron is probably not the best qualified person to comment on the economy. The UK economy is actually doing ok, but what he probably is doing is softening us all up for the next bit of bad news that is going to emerge on government spending cuts. The data coming out of the Eurozone is reasonable as well. And there is still plenty of value in European equities, so don’t be fooled into thinking everything is doom and gloom.
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