Capital moves quickly in today’s world. Trade with countries and companies around the world is efficient and prompt. With such movement a co-dependence can occur. If one country catches a cold it can effect others.
First British Vote since 1975 – To Stay or leave the European Union
David Cameron, current British Prime Minister promised a vote for the British people on the possibility of leaving the European Union. Here is a terrific BBC summary of the entire event and great background. Cameron desires staying in the EU.
Given the afore mentioned co-dependence, capital market fluctuations will likely occur as the polls drift back and forth on the vote. Currently the vote is seen as being VERY CLOSE!
We have no position either way, however as countries become larger and more independent, it does not surprise us on a desire for such vote.
Buckle up as the vote is Thursday June 23rd, and may make for interesting headlines along with violent moves by trigger happy traders who may be standing in for their elders who are in the Hamptons !
John A. Kvale CFA, CFP
Founder of J.K. Financial, Inc.
A Dallas Texas based fee only
Financial Planning Total Wealth