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Back in April I wrote this:
While I do not want to overestimate the effects of Brexit on the UK economy it is clear that last week's Brexit vote has significantly increased "regime uncertainty" in the UK.
It rarely happens, but sometimes Scott Sumner and I disagree and that is the case presently.
Brexit is on everybody’s mind and even before the – for the markets – surprising “Leave” vote on Thursday the British EU referendum was the dominating theme in the markets for awhile. When the news came out early Friday morning, the global financial markets reacted strongly.
The Federal Reserve just released the following statement:
Here we go...10-year government bond yields just dropped below zero.
I am in Munich today to do a presentation on Brexit at the European Institute COO-CFO Roundtable.