Brexit could be non-event.
“I reckon the hysterical warnings of chronic financial instability in the wake of the Brexit vote are going to prove another Y2K bug moment—everyone thought planes would fall from the sky and the lights [would] go out everywhere.…They didn’t,” writes Bill Blain, in his ever-pithy Morning Porridge missive from Mint Partners, a London unit of BCG Brokers. To explain to the millennials who were literally children at the time, ancient computers had code that couldn’t cope with the calendar change on Jan. 1, 2000, and supposedly would wreak havoc as a result. The problem was flagged well in advance, and the archaic systems were upgraded, staving off any disaster.
“The reality is the market knows what to expect, folks are lined up to buy weakness, and global central banks are primed with liquidity,” Blain observes. Still, markets slid on polls showing a lead for Brexit over Bremain last week.
http://www.barrons.com/articles/brexit- ... s&ru=yahoo" onclick="window.open(this.href);return false;