Imperium Capital Publication

Weekly Digest – 24 July 2016

  • Failed coup impacts Turkey’s financial markets
  • European Central Bank maintains monetary policy position
  • Weak PMI data from the UK following Brexit
  • IMF downgrades global and UK growth forecasts
  • Japanese stimulus expectations continue following trade data

Viewpoint – July 2016

Events in June, prior to the UK’s EU referendum on the 23rd, became somewhat irrelevant following the shock result. The market reaction was instant and dramatic, with sharp falls in sterling, global stock markets, government bond yields (especially those in the UK) and a flight to safe haven assets such as gold.