Guy Stephens: Is there a Brexit bubble?

Sterling’s artificially positive impact

clock • 5 min read

Investors and their advisers need to consider whether there is now a 'Brexit bubble' supporting the UK equity market, warns Guy Stephens, and position portfolios accordingly as future performance drivers shift

Elections always serve as a useful reminder of what democracy is supposed to represent. We are all aware that, in this age of populism, a significant proportion of the electorate is disillusioned with the western political system, which is encouraging support for more radical ideologies. Although France has elected a pro-European moderate in Emmanuel Macron, who is ‘market-friendly', they have rejected the two mainstream incumbent parties. Imagine the same in the UK - it would be equivalent to the UK electorate rejecting the Conservatives and Labour and a new party of one year's tenure e...

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