Don’t be surprised if the pound and British equities keep falling for the rest of the summer. For anyone who wants to raise their horizons above the next few days however, the conclusion should be clear.
After the hammering U.K. assets have received, this is the time to buy into Britain. But it is time to sell Europe. The U.K. will soon be on the way to fixing its problems. For the rest of Europe, they are only just starting — which explains why the German and French markets fell almost twice as much as the British one.
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