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A comment on Finland freezes arms export permits to Saudi Arabia and UAE over Yemen. Parent comment

Re:Finland freezes arms export permits to Saudi Arabia and U... by ptaipale on Friday November 23, 2018 @12:47PM (#18517870)
I understand why people are distressed, because the press and other media make a lot of noise about imminent disaster. However, markets price in ahead of time any impacts that they foresee, and we can observe that

- Britain's government debt yields, e.g. 2 and 10 year bonds, remain at similar levels to pre Brexit vote, and unlike before 2016, 10-year yields are now lower than US 10-year yields

- in currencies, the GBP has remained fairly stable against EUR and USD.

I have no doubt that there will be some impact. I did not wish Brexit to happen. But I see some positive signs as well (mainly in that this forces EU leaders to sober up).

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Re:Finland freezes arms export permits to Saudi Arabia and U... by sys_64738 on Friday November 23, 2018 @09:00PM (#18520002)
The Brit pound devalued by about 20% V the USA dollar. The buoyant export market is propping up the brit pound as it's cheap to export but staples like food imports have risen in price. A recent report indicated that the UK economy would have grown something like 8% more had there been no brexit.

Brexit is a disaster.

[ Parent | on HN ]
Re:Finland freezes arms export permits to Saudi Arabia and U... by ptaipale on Saturday November 24, 2018 @04:05AM (#18521182)
It devalued instantly after the unexpected voting result, but has since then recovered.

Compared to historical shifts over past decades, the impact of Brexit is not very visible on a chart. The falls from 1970 to 1975, or 1980 to 1985, or in 2008, are clearly more dramatic.

https://www.poundsterlinglive.com/bank-of-england-spot/histo...

"Recent reports" are many and contradictory, as usual.

[ Parent | on HN ]
Re:Finland freezes arms export permits to Saudi Arabia and U... by sys_64738 on Saturday November 24, 2018 @10:26AM (#18522397)
Recovered?

Nonsense. The historical trend for the pound is to be worth $1.5 whereas it’s trundled along around $1.2 since. Stop making up excuses for the disaster that is brexit.

No sane nation would leave the EU.

[ Parent | on HN ]