Financial markets are beginning to take the potential for a Brexit vote more seriously, notes a report from CIBC Capital Markets. This is occurring as U.K.-based banks are said to be considering moving headquarters to Europe, a decision viewed in certain circles as problematic from a regulatory standpoint. While polls showing the potential for the United Kingdom to leave the Eurozone are close, they likely “overstate the probability” of a “Brexit” actually occurring, CIBC analysts Avery Shenfeld and Andrew Grantham conclude. Further, even in the low probability event that a Brexit occurs, concerns about the negative impact on the U.K. are…
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- Brexit vote - Buy the sterling just ahead of a Brexit vote, because it might ultimately be positive regardless of the election outcome
- Brexit vote - Relative value investing opportunity: Even if the U.K. leaves the EU, the negative impact has been negatively overstated, says CIBC analysts
- Measuring success in terms of exports, U.K. exports have fallen while Swiss exports have risen
- Brexit vote: The most significant financial benefit of a Brexit is reduced financial burden, regulatory flexibility
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