Uncertainty about the date of leaving the European Union is more damaging than a no-deal Brexit, the new deputy chairman of the Conservative Party has said.
Not that I’d want to predict this as being true right now but it’s possible and also certain at some point. Solving the uncertainty will cause more of an economic boom than whatever the actual terms of leaving are…..
It’s a trueism that the markets will quickly discount bad news but hate uncertainty. It’s always disappointed me that this hasn’t been laid at he feet of the remainers who have been creating uncertainty for three solid years.
There’s an old saying used to hear on the Stock Exchange : “Üp on anticipation, down on realisation” with the reverse applying to bad news. Usually accurately predicted outcomes & indicates markets tend to over-discount. Uncertainty tends to remove the more cautious players from a market & less volume tends towards greater swings as extremes have greater influence.
BiS
As the Ion Duke put it: “News is never as good or as bad as when first reported.”
Quite NN. The first reports reaching Brussels were that the British were fleeing in disarray from Quatres Bras. But one observes that Waterloo Station is in London not Paris.
@Roué le Jour August 9, 2019 at 7:46 am
+1 Me too
Europeans have started to change their minds on Brexit
No Deal is better than May’s deal even if backstop removed. I do worry about the msm concentration on red-herring backstop
“I am an Indian and I can tell you that Brits take forever to leave.” —Deepak Saxena
“I’m Irish and I can confirm that this is true…” —Conor Leeson
“Well, in your case it is literally ‘forever’.” —Deepak Saxena
“Hi…I’m Irish. The waiting is the hardest part.” —Gavin Martin
One of my many pet hates is the way journalists don’t understand the specialist sense of the word “risk” as used in finance. “Oo! Help! This event is high risk!” Yes, so were Apple shares. Calm down.
In my current job for [major bank], I can confirm that the Brexit extension, supposedly intended to make life easier by giving everyone longer to prepare, has massively increased workload, day-to-day risk, and general pain in the arse. If 31st Oct doesn’t happen, I just dread to think.
@Squander Two
Your blog post narrated:
Russell Brand Called a ‘School Bully’ by RBS Worker After Comedian Stormed Bank Offices
https://www.youtube.com/watch?v=Kn9WGP5pcNo