Britain leaves the EU – what’s next?

On this week’s market update Chief Investment Strategist Erik Ristuben joins host Alexandra Davis to discuss the key news this week – Britain’s decision to exit the European Union (EU). Ristuben addresses how the European markets are responding as the day progresses, seeing an immediate negative reaction in the currency markets as expected, and European equity markets gaining traction, with the FTSE Russell 100® opening -9.5%, yet back up to -2.5% at mid-morning. He reminds investors that the UK Parliament still needs to vote on the decision that Britain’s people have put forward, which could take up to two years until a final decision is reached.

Concluding this week’s recap, Ristuben comments on the impact on the global markets, and potential moves from the Bank of Japan and Bank of England following the vote, reminding investors that the global markets will need to move beyond political noise and focus on economic growth, as there won’t be a definite answer to the long-term impact of Brexit for some time.

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