A Brexiters view

Generali

PPS - Prices as at 15 mins ago:

BARC - -19.84%
RBS - -17.84%
LLOY - -20.37%
SAN - -20.08%

Rinoa

Generali wrote: »

Gilt 10 year yields were up earlier in the day. When the European markets started to wake up yields came sharply down again along with FX rates rising. I wonder why....

http://uk.reuters.com/article/britain-eu-cenbanks-swiss-idUKL8N19G24X



http://fortune.com/2016/06/24/central-banks-on-alert-as-brexit-vote-hammers-markets/



http://www.bloomberg.com/news/articles/2016-06-24/central-banks-pledge-action-to-alleviate-strains-on-brexit-news



Out of interest, how long do you think the world's central banks will keep on bailing you out? I give you a week or two before you are required to come up with a Plan B if the volatility I was watching as you slept keeps up.

The polite word is volatility. The reality it was volatile rather like a rock dropped out of a window.

Those links look to be from very early this morning. What they thought was going to happen hasn't transpired.

Remember Osborne threatening to close the stock-exchange? Another project fear lie debunked.

Generali

michaels wrote: »

But half of that was juast reversing the increases of earlier in the week when the markets thought remain would win - the wildness of the fluctuations are not about the fundamentals but about the unexpectedness of the result.

Cable (GBP/USD) covered its entire trading range for 2016 today. What has been happening in markets isn't normal or pretty.

The problem your lot have now is trying to convince real world investors that build factories and offices and shops that this isn't a problem. The BoE can step in as buyer of last resort for financial assets but the UK requires real investment in real assets too and I honestly can't imagine any business today looking at this self-imposed cluster f... and thinking, "Ah yeah, now is the time to build a new shopping centre/factory/head office".

You made this bed. Now you're going to have to find a way to make it comfy and that is going to be an extremely tough proposition.

ruggedtoast

Here is a sorry tale of 17,410,742 nitwits who repeatedly voted for austerity Tory governments then decided to blame the EU on the fact that they were experiencing austerity, so voted out.

Seriously, just well done. A second austerity Tory government, Boris Johnson as Prime Minister and we have now kicked ourselves out of the biggest free trade bloc on the planet.

Oh, and Scotland is on the way out too.

Great.

Conrad

Generali wrote: »

The problem your lot have now is trying to convince real world investors that build factories and offices and shops that this isn't a problem.

I think the key to our prosperity boost going forwards is now we're even more of a safe haven beacon in a world of dis-trust and uncertainty and a fleet of foot player unlike the lumbering slow to react clumsy EU monolith


The EU may well split up now, but that's good, not bad


Never been a better time to invest in Britain, I'd hurry up if I were you, lol


BTW this is not overly frothy buoyancy on my part, the investment case is rock solid

Generali

Rinoa wrote: »

Those links look to be from very early this morning. What they thought was going to happen hasn't transpired.

Those links are from about 4-5am your time when the pound was on a one way trip. Then the European central bankers started waking up and did something to stop it. How often do you think the Bundesbank is going to spend EUR on defending the money in your wallet? How much money do you think European taxpayers want to spend on the country that just !!!!ed off and left them to it?

I have worked in finance for 20 years and I have never seen a major currency move like the quid did today.

Rinoa wrote: »

Remember Osborne threatening to close the stock-exchange? Another project fear lie debunked.

I've gotta be honest, given that FTSE futures were down almost 10% before your lot woke up I'm surprised that it opened myself. I dread to think how much stock your Government now owns.

Generali

Conrad wrote: »

I think the key to our prosperity boost going forwards is now we're even more of a safe haven beacon in a world of dis-trust and uncertainty


Never been a better time to invest in Britain, I'd hurry up if I were you, lol


BTW this is not overly frothy buoyancy on my part, the investment case is rock solid

Would you invest into an economy where you had no idea whether you would have a market to sell your product into? I sure as hell wouldn't.

michaels

Generali wrote: »

Those links are from about 4-5am your time when the pound was on a one way trip. Then the European central bankers started waking up and did something to stop it. How often do you think the Bundesbank is going to spend EUR on defending the money in your wallet? How much money do you think European taxpayers want to spend on the country that just !!!!ed off and left them to it?

I have worked in finance for 20 years and I have never seen a major currency move like the quid did today.



I've gotta be honest, given that FTSE futures were down almost 10% before your lot woke up I'm surprised that it opened myself. I dread to think how much stock your Government now owns.

I didn't know the govt or the boe had any mandate to purchase stocks? The only asset I thought they could buy was gilts and that only up to the qe limit?

Got to be good news for the EU and Germany if the EUR appreciates sharply against the GDP especially whilst the UK remains in the free trade area...not! Perhaps a few more UK buyers will be priced out of buying those German death polluting diesel cars that the EU regualtors cleared for our use?

tberry6686

I have my doubts if Britian will leave the EU.

I expect (given the noises coming from many other EU states about referendums for themselves) that the Eurocrats will now realise that there has to be major changes in policy and rules. This would be followed by another referendum on staying in with (I expect) a narrow remain win.

ruggedtoast

Generali wrote: »

Would you invest into an economy where you had no idea whether you would have a market to sell your product into? I sure as hell wouldn't.

There isn't any point arguing with them about this issue. They are convinced on the whole, that England is the centre of the universe and all must line up to be our vassals.

They are going to learn the hard way. Unfortunately they are going to make the rest of us sit in on class too.

Not a single one of them will connect their actions at the polling booth with how bad things are here. Again.