Brexit: Is This the End of the Road For Monetary Policy?
Investors are speculating that Brexit instability will cause the European Central Bank to speed up corporate-bond purchases that began three weeks ago. Prices on euro-denominated corporate notes eligible for ECB buying have risen since the U.K. voted to leave the European Union last week in contrast to declines for similarly rated financial notes that are excluded from the program. European stocks, junk bonds and currencies have also fallen since the referendum, and the new-issue market has shut, amid uncertainty about the effect Brexit will have on the U.K. and European economies. Fathom Financial Consulting Director Erik Britton discusses with Bloomberg's Anna Edwards on "Countdown."
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U.K.'s May Calls for Two-Year Brexit Transition Period
25:25 - U.K. Prime Minister Theresa May speaks in Florence, Italy on the need for a period of implementation after the nation leaves the European Union. (Source: Bloomberg)