AUTHOR: TOWNE SCHERER.COM 6/30/2016: Towne Scherer Private Wealth Management BLOG:
And Speaking of a Brexit
The Britt’s are out…of the European Union, according to a MarketWatch 6/24/2016 report, which it had been a member of since 1973. Nevertheless, in the face of the U.S.’s largest trading partner, Europe, being disrupted, the report says that the Brexit (As Britain leaving the EU is referred to) may be reduced to a pin-point on a long-term chart of the market, highlighting any volatility we see in the markets over the next few days.
And Politics and the Brexit
Further, a 6/24/2016 CNBC article reported that Trump hailed the result as a triumph of nationalism, where he stated that “Basically, they took back their country…They’re angry over borders. They’re angry over people coming into the country and taking over, and nobody even knows who they are.” This feels like a win for Trump.
American Middle Market and the Brexit
The U.S. middle markets tend to be more insulated from international economies relative to large, multinational corporations, according to Franklin Square 6/24/2016. Further, they say the U.S. economy is a relatively closed economy, pointing out that about 8% of our GDP comes from goods exports while our exports to the U.K. amount to only 4% of our total exports. Although they believe a weaker EU isn’t great news for anyone, the U.S. has not been boosted by a strong EU economy for some time. Their commentary goes to say that they expect the Brexit to be more of a sideshow than a fundamental economic driver.
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The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.