Not surprisingly, the outcome of yesterday’s referendum in the UK has hit sterling hard and driven down the prices of equities and most commodities. At the same time, it has boosted the “safe-haven” appeal of the yen, high-grade government bonds and gold. Nonetheless, some of the initial moves have already been partially unwound, and, in some cases, we expect them to be more than reversed.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.