The UK was warned by a number of august institutions and esteemed individuals prior to its big vote on June 23 that there would be serious repercussions should the outcome be in favour of leaving the European Union.
Hence, as we read the headlines about sterling plunging to a 31-year low, sovereign bond yields tumbling, the Bank of England swiftly moving to make bank lending easier, and central banks wondering what to do next…we perhaps should not be too surprised.
