Will Brexit Breakit?

The last few months have been filled with debate over how the Brexit vote would end.  The markets have parroted this debate throughout the month of June with positive and negative swings leading up to last week’s vote.  On Thursday, words turned to action and the argument reached a crescendo when 52% of the British citizens participating in the historic referendum, cast their vote to leave the European Union (EU).  Much has been written and spoken since, about what this will mean to Britain and the world.  Which countries will remain in the European Union, what it will mean to global markets and more broadly, what is the long term future of economic globalization?  No one knows for sure how the next few weeks, months or years will evolve.  What history suggests are world equity and bond markets will be volatile as news on the economic impact sorts itself out. They (markets) will steady as facts become clearer.  Eventually, global markets will resume a more predictable pattern influenced more by traditional financial valuations and less by what seems to be Read on! →