Attention towards Healthcare and Brexit

The market turned its short attention span towards Donald Trump and his secret health care bill that was just revealed to the world yesterday.

Many experts say that this bill has no chance of becoming a law but that didn’t stop healthcare stocks from raising the roof on the stock market.
But despite the apparent enthusiasm from that, stocks were flat and volatility was virtually nonexistent.

It’s been one year since the Brexit referendum marked the official peak of globalization. A lot has happened in UK politics since then but yesterday was probably the worst update yet. In an unprecedented display of political suicide, May proposed to the nations of Europe that she will allow 3 million EU citizens currently living in the UK undiminished access to British Healthcare and social benefits. This was supposed to be one of England’s largest bargaining chips going into these negotiations and May just handed it to the cocktail waitress as a tip.

The British Pound remains, until this point, almost completely unphased by political risk and has actually gone up since the summit.

Mati Greenspan – market analyst – eToro