Some days equities really are amusing. The AFR today explains why Australia is different:
Tony Brennan, head of investment strategy at Citi suggests local stocks may be seen as fairly attractive.
…”For Australia, the direct economic and earnings consequences of Brexit appear minor, and seem to leave Australian markets relatively attractive in a global context,” writes Mr Brennan in a note to clients on Monday, adding that company earnings directly sourced from the United Kingdom and Europe only account fo a minor proportion of Australia’s overall market earnings.