| Topic: | Re:Re:Re:Re:State of play today | |
| Posted by: | Paul Morris | |
| Date/Time: | 27/06/16 16:46:00 |
| Richard, I am sure we will see plenty of volatility, but also further downwards trends. What we are seeing is a global flight to safety, and a huge move of money out of the UK. This is not a few speculators, trading volumes have spiked up and people are running for the hills (and out of the UK). There is a global concern we are seeing an end to the post war consensus around free trade and open markets. 25% declines in the share price of BT, 30-40% declines in banks, these are staggering moves. Out of nothing other than a crazy referendum. Lets have a little bet where sterling and the market end the year, I am sure it will be clearly down from here, what about you...? Also, at least two quarters of negative GDP growth next year...and a huge increase in OBR borrowing forecasts (zero chance of a balancned budget by 2020). |