Brexit Market Shock Has Waned, but Don’t Relax Yet

Anxious Man

Excerpt from article featuring Horizon Investments’ Greg Valliere

While Raymond James Chief Investment Strategist Jeffrey Saut offered some prescient advice Monday by telling investors – and the media – to “sit back and take a deep breath” on news that the UK voted to exit the European Union, other market pundits are bracing for a potentially bigger market shock as France makes noises about leaving the bloc.

Indeed, Greg Valliere, chief investment strategist for Horizon Investments, sees “two major risks” going forward: First, that France schedules a vote to opt out of the EU, which would be the ultimate train wreck scenario; Second, that global economic growth slumps largely because of a pervasive drop in confidence — businesses are curbing investment because of uncertainty, and consumer confidence is likely to slump further in light of stock market volatility that may persist for some time.

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