I worry that the urge to condemn it [Brexit]has led to a lowering of intellectual standards.I should add, not the headlines here.
And let me also say that the narrative of disaster is coloring some (not all) financial reporting. On the whole, the market reaction looks pretty muted to me. It’s not just stocks: European bond spreads are about where they were a month ago. True, globally, rates are considerably lower; but we aren’t seeing the kind of financial disruption so widely predicted. Yet headlines about turmoil are everywhere.