Blain’s Morning Porridge – The Property Chronicle
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Blain’s Morning Porridge

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In the headlines this morning

One of our traders was dragged screaming and foaming at the mouth from his desk this morning. As we gently strapped him up in the office straight-jacket and wheeled him towards the Calm Room he was yelling: “You can pull my fingernails out, attach crocodile clips to my fluffy bits, extract all my teeth – but please just stop the Brexit Noise. PLEASE! I CAN’T TAKE ANYMORE!”

I’m not so bothered. After last night’s ritual parliamentary mugging (by only 149 votes this time), now we face a “rule out No-deal vote” today. A No-Deal Brexit will be taken off the table, and tomorrow Parliament will approve an extension of the March 29th Deadline, meaning we can keep playing the Brexit “what happens next” game into perpetuity. Joy.

What comes next is a very good question? We have no idea what is possible in terms of an extension from the EU? Do we need to send Farage back to Strasbourg as an MEP? (Please say yes.. because he’s bound to make us giggle!) A minority Labour government might be a good thing – expose Corbyn, get him replaced with someone within touching distance of common sense? Or do we face an inevitable slide towards a second referendum? (“Surely that’s unconstitutional”, opined She-Who-is-now-Mrs-Blain last night… “Well it probably would be, if we had one” I replied.  Are we spinning towards the No-Brexit? caught on the event horizon of the EU for eternity… I rather fear we are.. somethings are just too difficult.

Who really cares anymore? We just don’t know. And markets don’t like not knowing…






The Macro View

About Bill Blain

Bill Blain

Bill Blain is CEO of Wind Shift Capital Advisors advising clients on alternative asset investments, and author of Blain’s Morning Porridge – his say-it-like-it-is market commentary. He is a well-known market commentator, and a practising investment banker in the alternative private debt and equity sector. His clients include sovereign wealth funds, hedge funds, insurance and pension managers, credit funds and family offices.

Articles by Bill Blain

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