Authored by Daniel Stelter via Think-BeyondTheObvious.com,
Today Mrs. May finally officially announced Brexit and kicked-off the process of divorce from the EU. A disaster for Britain, according to officials in Brussels, Berlin and Paris. Really?
With Brexit officially a go, banks in Britain are scrambling to undo months of verbal damage, and reassure their London employees over possible Brexit disruptions, a potential shift in jobs to continental Europe, and also talking down warnings made in recent months about leaving the City, some in now dashed hopes of getting a Brexit revote.
Another day, another hedge fund casualty.
According to Bloomberg, Eyck Capital Management, a hedge fund started by Khing Oei in 2013 after he left Halcyon Asset Management, is returning capital to investors, just days after Eric Mindich, founder of $7 billion Eton Park, said last week it would also return client money after “disappointing” results last year.
There is no going back now: moments ago the EU's Tusk received the signed Brexit notification letter from UK envoy, triggering two-year countdown to British withdrawal from EU and marking the first ever withdrawal of an EU member state in its 60-year history.
Brexit day has finally arrived, and despite this major "risk event", European and Asian stocks are trading mixed, while S&P futures are just fractionally lower as a bounce on optimism over the American economy appears to have fizzled and President Trump continues to struggle to pass his legislative agenda. The pound first dipped then rose as the U.K. is set to begin its life outside the EU.