It’s been three weeks into Brexit and the financial world now think that maybe it was never an issue at all? US S&P is back near all time high, the FTSE 100 bounced back with a vengeance and hit its high for 2016. Even the STI is now close to 3,000. Brexit? Nah. Let’s Move On! That’s market short-termism for you.
For most people, it was actually more disappointing that in the same week, England was knocked out of the Euro Finals. By Iceland. Ouch! People asked, “What happened?” This was the Great Britain, we were talking about the most powerful empire of the 19th century! First, it took a big retreat on globalization with Brexit, then it lost its prowess in football. To rub it in, even the British Gentleman spirit was lost when Michael Gove, a former Secretary of State for Education backstab his political ally Boris …Read the full article →