Brexit: Short-Term Thoughts, Longer-Term Implications
The world woke up on Friday feeling the shock waves of U.K. secession from the European Union as voters chose to “Leave” the EU by a margin of 52 percent to 48 percent. The referendum result took investors by surprise after financial markets had priced in a vote to “Remain”. Pricing of risk assets such as the British Pound and global equities have have been wildly volatile in today's trading session, while traditional safe havens such as US Treasury bonds and gold have gained.
For more perspective on the impact that the Brexit vote may have, please read the following commentary provided by our friends at Nuveen Asset Management:
Please reach out to us with any questions or if you would like to discuss further. In the meantime, we will continue to monitor closely.