The Daily Difference: The Brexit Debate
The news cycles have been dominated over the past two weeks by headlines related to a “Brexit,” a catch phrase used to refer to the possible exit of Britain from the EU. Britain will vote on the matter on Thursday, June 23rd. Global capital markets have hitched their wagon to the uncertainty and speculation around Thursday’s vote, and we’ve seen heightened volatility over the past couple of weeks. Below is the link to a two-minute video, courtesy of Bloomberg, that provides an informative and succinct overview of what the “Brexit” is, what precipitated it, and what the impact would be of an affirmative vote to exit the EU
Markets and polls are currently forecasting a close vote, with a slight bias toward Britain remaining in the EU. We are not making any portfolio modifications in advance of Thursday’s vote, as there is too much uncertainty to confidently make a call in either direction. If Britain votes to leave the EU, we expect to see heightened volatility in the coming weeks.
We hope you find the attached video educational. Please do not hesitate to ask if you have any questions.
Gill Capital Partners