On the rebound

The losses prompted by the Brexit vote were eventually partly made up for. The cliché about steep declines preceding growth was confirmed yet again. Even more so taking into consideration the fact that the Brexit will take place in a minimum of two years’ time (it has not formally started yet) and its potentially negative effects for the British and global economy might be limited with some skilful negotiations and bilateral trade contracts. Whether the UK goes on to enjoy economic turnover similar to Norway (which is not in the EU but utilises its four main freedoms – of capital, people, goods and services, the bases of the economic success of EU – will only become clear over the next two years. And in the meantime the global economy trundles on – therefore it came as no surprise that investors’ eyes were turned to the USA once more, where the excellent data from the job market pushed the S&P500 index up to record heights, as a bull market ensu