NN IP: No Country for Young Men

Economic Outlook: The political and economic consequences of the Brexit vote

The outcome of the UK referendum has created a lot of uncertainty. While the UK first has to find new leaders, it seems clear that they will have a tough battle to fight for a new arrangement with the EU. The UK will likely fall into recession in the second half of the year. Read more...

Asset Allocation: A world of political uncertainty

In the aftermath of the Brexit vote, we need to closely monitor the evidence of contagion into the real economy from the current political drama. Yet, we should be cautious in assuming a strong and stable relationship between underlying fundamentals and the events in the political theatre. Read more...

Foreign Exchange: Sterling drops after Brexit vote; risk-off moves appear contained

In the run-up to the UK referendum on European Union membership, markets seemed confident, with a pricing in line with the latest polls showing an increasing support for the “remain” camp. Hence the surprise and large swings observed in exchange rates globally after the release of the “leave” result. Read more...

Equity Strategy: The hangover

There are no winners from Brexit. The UK’s political landscape is one of chaos, and economic and earnings prospects are revised down. Read more...