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发帖数: 567 | 1 http://www.bbc.com/news/politics/eu_referendum/results
MORGAN STANLEY: European stocks will fall 15-20% after Brexit vote
Fri, Jun 24, 2016, 1:34AM EDT - US Markets open in 7 hrs and 56 mins
By Bob Bryan
1 hour ago
Among the wide-ranging impacts, financial markets are going wild following
the monumental vote and Morgan Stanley strategist Andrew Sheets thinks this
will be a huge downside for markets.
"It looks likely that the UK has voted to leave the EU," Sheets said in a
note to clients following the vote.
"This result will come as a surprise to markets, based on Thursday's pricing
, and creates material political and economic uncertainty in Europe. Both
are negative for risk premiums, and the question over the next several days
is not whether prices fall, but by how much, and whether central banks
respond."
According to the Morgan Stanley strategy team, they expect European stocks
to fall 15% to 20% from their close on Thursday and the British pound could
collapse as well.
"Specifically, we think GBPUSD could trade down to 1.25-1.30, as valuations
need to adjust sharply before the currency is 'cheap', in our view," wrote
Sheets.
Going forward, Sheets said the US assets — from stocks to corporate bonds
— will be the "safe havens" for financial markets. Additionally, Sheets is
watching the response from the European Central Bank.
"All eyes are now on the ECB, and how aggressively it decides to intervene
in order to protect its member states and deflect downside risks to
inflation that could result from increased economic uncertainty," said the
note.
This is just one analysis and certainly there are more to come, but it
remains to be seen what happens next. | g*******h
发帖数: 1327 | 2 Going forward, Sheets said the US assets — from stocks to corporate bonds
— will be the "safe havens" for financial markets. |
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