Views from LGIM's Asset Allocation team. Please note the content on this website is for Investment Professionals only and should be shared responsibly. No other persons should rely on the information contained within this blog.
Hetal is an economist with a focus on the UK and Europe. She has worked for HM Treasury, Oxford Economics and Daiwa Capital Markets, but her real claim to fame is sharing a stage with Sir Ian McKellen. This love for drama is just as well given the excitement of keeping tabs on [insert latest European country]-xit. Away from work, you'll either find Hetal concocting culinary masterpieces (!) or punching the lights out at a HIIT class.
In the face of a largely unexpected referendum outcome, the UK is now facing a prolonged period of heightened economic and political uncertainty. The pound has dropped, but has the penny dropped as well?
The UK has voted to leave the European Union by a margin of 52% to 48%. Although opinion polls had narrowed during the final few weeks of the campaign, financial markets had been broadly positioned for ‘remain’ given the lead in bookmakers’ odds.