Brexit Meltdown (now with charts!)
http://ritholtz.com/2016/06/brexit-meltdown/
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http://ritholtz.com/2016/06/brexit-meltdown/
We haven't seen numbers like this since the financial crisis — although to be fair, these numbers bring us in the USA back to where we were on Monday, prior to the rally this past week; Europe seems to be getting punished to a much greater degree.
A few interesting charts worth sharing:
British Vote: London & Scotland "Stay," Most of England "Leave"
Source: Bloomberg
What Issues Mattered Most to Voters
Or the votes presented as a table:
Source: Fusion
Markets Around the World Fall between 4-15%
Click for up dated futures
Europe
US Futures Indicate 3-4% Lower Opening
Source: Bloomberg
Global Markets in Table format
Source: Bloomberg
Despite the Selloff, Brexit' Is No Lehman
Source: WSJ
But Currency Markets Have a 10-Sigma Movements
Source: Bloomberg
Polls forecast close race, but got it wrong
Source: Bloomberg
Safe Havens Attracting Risk Off Trade
Source: Bloomberg
British Pound back to levels not seen since 1985
Source: Washington Post
The "Leave" Camp Trusts No One
Source: Bloomberg
UK has benefited from the EU Membership
Source: FT
Younger Generation feels Old Folks Stuck it to them
Source: Fastcompany
Its not just the Brits: Most of Europe does not like the EU
Source: Slate
Brexit's First 100 Days: Chaos vs Damage Limitation
Source: Bloomberg
Foreign Ownership of UK government bonds = 26%; Germany and France > 50%
Does Scotland now try to leave the UK and rejoin the EU?
.
Source: BBC via Liz Ann Sonders
How Bad is this for Business in UK?
Source: FT
Although there are still many ties between UK and EU
Source: NYT
But the Slump in Pound = possible growth of tourist spending in Britain
Source: Gadfly
Some other links:
- A Bloomberg News primer on how Brexit's first 100 days promise chaos, fear and damage limitation.
- The Guardian outlines the aftermath of Brexit and considers theimplications for everyday life in the U.K.
- Articles on the implications of Brexit for the Europe Union by theTelegraph and theEconomist.
- London School of Economics papers estimate the economic consequences of Brexit and consider British options outside the EU.
- The U.K. Treasury considers the economic impact of Brexit.
- The Open Europe think tank offers recommendations for the U.K. post-Brexit.
- The Guardian: Is the Referendum Legally Binding?
- Brexit indicators and poll tracking from Bloomberg, plus a story truth-squadding the arguments.
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