Overnight the U.K voted to leave the European Union. The so called Brexit vote has sent equity markets into complete turmoil as investors around the world are trying to reprice risk. It is important to not panic as although this is a shock this is not the end of the world.
The exit itself will take time to work through and central bankers around the world are taking measures to protect liquidity and stabilize markets. The longer term risk is the complete unwinding of the European Union. As we travel through all this uncertainty it is important to remain calm and look for opportunities rather than being fearful.
Granite comments, as usual, always spot on….