The FT, a key read of mine everyday for work, is nonetheless the most irritating paper to have to deal with, much like the Economist which is the only serious macro economics monthly, yet wrong about virtually everything, always.
Today the FT has led with the article below:
It leads with companies expecting a downturn in business because of Brexit. If only they had looked back to the same time last year:
Here they had conjured the same sort of answers, only then 70% of Companies thought Brexit would be terrible. This year, 2016, we are down to 54% thinking it will be bad. So a big net improvement in sentiment overall.
Also last year only 2% thought it would be good for their company, the general view was it would be very bad economically. This year, they could only find one company that was actually looking to move its HQ abroad in the FTSE350. To counter this we already have several large companies moving their HQ's to the UK, BE wrote about McDonald's here just this last Friday gone.
As ever, the press as a whole are going with the #becausebrexit we are all screwed approach for 2017. Of course, actual insight is hard to match to the preferred ideological position, but no matter, as ever. And yet the mainstream media complain about fake news....
I have no doubt there will be a market bump at Article 50 or in anticipation of it. However, much like this year, it will prove short lived and will be an opportunity for trading not to be missed.
2017 will have plenty of interesting events, Trump's takeover, elections across Europe, continuing strife in the middle east and the slowdown in China. Brexit, as this year, will be one of many interesting and impactful stories.
But one thing I am sure about, it will still be blamed for everything, along with the horrid people like me who wanted it.....