|
By Jan Straatman, Global Chief Investment Officer, and Salman Ahmed, Chief Investment Strategist, Lombard Odier Investment Managers
Brexit has happened, bringing unlimited uncertainty and permanently redrawing the UK, European and global investment landscape.
With markets increasingly pricing Remain in the days prior to the referendum, global equities are down sharply, matching or in some cases exceeding the dark days of 2008. Sterling is at the centre of the storm, with a nearly 10% hit against the US dollar since Thursday’s close. Not surprisingly, traditional safe havens such as government bonds in advanced economies, the Japanese yen and gold are rallying as investors take flight to safety. In terms of pure politics, the turmoil for the...
|