Last quote by Kathleen Brooks
Kathleen Brooks quotes
For the UK, uncertainty is good, because the market has convinced itself that Brexit is bad news for the UK's future economic prospects.
An extra year is good, however the uncertainty caused by Brexit makes it very difficult to anticipate the health of the UK economy in three years' time. Even after today's announcement, Carney may still leave the Bank of England at a delicate time for the UK economy.
It gives the markets a glimmer of hope that the UK may not target a 'hard' Brexit.
If no deal (is) forthcoming then we would expect further selling pressure on Deutsche shares, which could eventually force the German authorities to step in and save its biggest bank.
The pause in the campaign seems to have lent crucial support to team 'remain,' with only four days to go until the vote. The markets have always been more comfortable with the U.K. remaining in the European Union.
With the EU referendum on a knife-edge, the market is right to look elsewhere for direction. Some of this came from Yellen, who reinforced (the) message that the Fed will slow the pace of rate hikes if the U.S. economy posts another dismal jobs report for June.
Although the Remain camp has managed to stem the recent wave of support for the Brexiteers, the outcome is still very much uncertain and trading is likely to be sporadic and volumes thin in the next two sessions.