All Eyes on Brexit, but Has This Caused Inertia in the Markets?
The impending exit of Britain from the EU in 2019, has so absorbed the minds of the international financial community. Prior to the vote, there were many doomsday predictions, none of which have materialized to date. For instance, before the vote it was predicted that the equity and bond markets would collapse if Britain were to leave. However, post-Brexit, the global bond and equity markets are doing very well. And Britain has not become ostracized, as evidenced by GlaxoSmithKline’s announcement that it intends to invest £275 million to bring up production capacity at three of its manufacturing sites in the UK. Wells Fargo announced that it will make an investment of £300 million to construct a European Headquarters in London. Continue reading