European Union: British Voters and Outcome Right

european union: As I wrote last month, financial markets had for the most part priced a victory by Hillary Clinton just as they had priced a vote to remain in the European Union by British voters in the Brexit referendum of June 23, according to Australian Broadcasting Corporation. They continued to price that outcome right up to the opening of the polls, notwithstanding the narrowing in Hillary Clinton lead in opinion polls following the FBI intervention in the campaign on October 28. Reuters Toru Hanai Related Story Asian markets tank as Trump wins US election Related Story US election stakes are high, not just for the US but the world Related Story A Trump presidency could bring a range of economic disasters Map United States Donald Trump has emerged as the winner in the US presidential election, but even before the result was clear the prospect came as a profound shock to financial markets. External Link S&P/ASX 200 for November 9, 2016 As is often the case when the assumptions underpinning the financial markets pricing of uncertain events turns out to be wrong, the reaction has been both swift, and sharp all the more so when there is a lot at stake. To be sure, the British economy hasnt fallen into recession since the Brexit referendum, as some said it would. Some will of course say that financial markets over-reacted to the Brexit vote and that the initial market reaction to the US election result should be seen in the same light. (news.financializer.com). As reported in the news.