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UK referendum leaves uncertainty in US markets

UK referendum leaves uncertainty in US markets

Uncertainty surrounding Britain's future is something Kevin Brosious, President of Wealth Management Incorporated in Upper Macungie, says businesses in the United States are having a tough time handling.

"They can deal with good news, they can deal with bad news, but uncertainty they can't deal with," Brosious said.

For that reason Brosious says he is expecting companies to expand less.

He also says he predicts more turmoil in the EU moving forward.

"I just can't see it being more cohesive after this," Brosious said. "I can see others countries exploring the opportunities of leaving if things don't go their way."

Jon Soden, Partner at Magellan Financial in South Whitehall, has a different prediction.

"There is also that positive look at it where you could see the Union really come together and start to get its act together and really become a cohesive unit," Soden said.

Even though Soden says Britain's exit could be a positive for the EU, he is still predicting some short term volatility for his clients.

"For someone buying CD's or bonds they are going to get less of an interest rate," Soden said. "On the positive side, somebody who might want to refinance their mortgage might have the opportunity to do that at maybe lower rates."

Both Brocious and Soden have the same advice for their clients, don't make any sudden moves.


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