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Brexit Note

US market is relatively stable compared with Europe and Asia.

  • Low interest rate
  • Low umemployment rate
  • Stable GDP growth
  • currency value appreciation

European banking and financials: hit hard and high level of uncertainty, however the

US banking: Wells Fargo with main business in US should be a good choice

Defensive Sector rise: Duke Energy (NYSE:DUK) and Consolidated Edison

Airline: hit hard. AAL US was down more than 10%, DAL down 8%. But the stronger dollar could lead to more traffic volumn of tourists into Europe.

GBP down
JPY up
USD up
Inflation will be driven higher.

Populism is trending now. Consecus of elites are losing the appeal.