CS: Sterling Is Still Overvalued, Buy UK Large-Caps
Since the outcome of the UK referendum at the end of last week, there has been a deluge of information from analysts, news outlets, and TV pundits on what Brexit means for the markets.
The one theme of that has run through all of this commentary is uncertainty. The UK has jumped off a cliff, and there’s no clear outlook for what the future holds for the country. Credit Suisse tries to add some clarity to the matter in its 28 in June Global Equity Strategy research report.
Sterling is still overvalued, buy UK large-caps
The first key data points to watch will be the PMI new orders for July across the Eurozone including the UK. This business confidence indicator should be one of the first and most reliable gauges of how companies are reacting to the uncertainty.
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