The quote “Brexit means Brexit” is attributable to the UK Prime Minister, Theresa May, and was made at a time when there were hopes amongst the ‘remain camp’ that the results of the historic referendum, to leave the European Union (EU), could be challenged, amended, or even overturned. It was intended to show that, regardless
The pound clawed back more of the ground lost following the referendum on European Union membership this morning after the release of strong services sector data. Markit’s Business Activity Index rebounded to 52.9 in August, from 47.4 in July, sending sterling up 0.3% to $1.333. “Today’s improvements are in line with the string of robust
The Italian constitutional reform referendum this autumn will, or rather should, cause European investors to hold their breath more anxiously than they did on the morning of 24 June. Citigroup has called the referendum “the single biggest risk to the European landscape this year,” bigger than the United Kingdom’s leave vote. Renzi leaving, which he
Nearly six weeks have now passed since the shock waves from the UK referendum ‘out’ vote buffeting global markets throughout that final week of Q2-2016, evidencing that market participants had assumed and priced in a remain vote, which took us and others by surprise. The morning after was certainly a roller coaster of not just
In the Gallup survey for the week ending July 17th, overall U.S. Economic Confidence Index dropped to -17, the lowest point so far this year, matching the prior lows in late June and August 2015. How, one might ask, is this possible when the S&P has just reached a new all-time high and markets globally
