Wyn Thomas - Axys Investment Management

Weekly Market Update 8th February 2016

EU REFERENDUM PROGRESSES ALONGSIDE WEAK MARKETS

This week there has been much fuss about David Cameron’s “deal” struck with the EU, which has been widely perceived as disappointing. The EU membership debate is so emotionally charged that it was always likely that whatever concessions Britain was able to secure would have been dismissed. We feel the least risky option is to preserve the status quo, so an agreement that doesn’t really do anything isn’t so bad. While the uncertainty around a referendum will weigh on markets, the absolute unknown of the impact of a “Brexit” would be to cause devastation in the short and medium term; however this is an issue that has hampered governments for decades, finally putting it to rest might just be worth all the uncertainty. Read More……