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Voter turnout in Britain’s referendum on European Union (EU) membership was high at 72.2% (33.6 million ballot papers).
Brexit is a victory for uncertainty across international financial markets and the volatility is only just beginning, warns the boss of one of the world’s largest independent financial advisory organisations.
On Thursday, June 23, 2016, UK voters confounded expectations and the dire warnings of many politicians, business leaders and international non-governmental economic organisations by choosing to leave the European Union. Here, David Zahn, head of European Fixed Income, Franklin Templeton Fixed Income Group, shares his initial thoughts on how markets may respond, and the challenges and potential opportunities he sees ahead.
Ratings agencies have given South Africa a breather by keeping the ratings for the country above the feared junk status. However, the shock of Nene-gate and the dramatic economic consequences remain very much top of mind as South African corporates continue to withhold cash reserves and defer growth decisions.
If you had to hazard a guess, when do you reckon the COFI Bill will be signed into law?