Kay Van-Petersen
Kay Van-Petersen, macro strategist at Saxo Capital Markets, thinks that Australian cheese producer Bega is an interesting trade.
Squawk / 24 June 2016 at 9:57 GMT
This is a victory for the common people, but at what price?
Uncertainty is not good for markets and as always, faced with unprecedented events, markets are in a tailspin. Volatility is high and will remain high. However, where there is volatility, there will be opportunities.
Take a deep breath. What happens now that the vote is over, and British PM Cameron has tendered his resignation? The vote is not legally binding and the exit process will only begin when the British PM invokes Article 50 of the Lisbon Treaty. Once invoked, the UK and Europe has two years to negotiate the exit process. This can be extended if so required, upon agreement by both parties.
On the UK front, Scotland and Northern Ireland voters were in favour of remaining in the EMU. This will lead to renewed calls of separation from the UK.
While in Europe, the rise of populism will continue. Calls for more referenda across all the member countries will become more and more vocal.


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