Buy UK Assets Ahead Of Brexit Vote, Says CIBC, Concerns Overstated

Financial markets are beginning to take the potential for a Brexit vote more seriously, notes a report from CIBC Capital Markets. This is occurring as U.K.-based banks are said to be considering moving headquarters to Europe, a decision viewed in certain circles as problematic from a regulatory standpoint.

While polls showing the potential for the United Kingdom to leave the Eurozone are close,  they likely “overstate the probability” of a “Brexit” actually occurring, CIBC analysts Avery Shenfeld and Andrew Grantham conclude. Further, even in the low probability event that a Brexit occurs, concerns about the negative impact on the U.K. are overstated.

Brexit vote -...

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