The referendum was in 2016 but the thing that happened in 2020 was not the culmination of 4 years of sound planning and forewarning. It was Leeroy Jenkins appli

The referendum was in 2016 but the thing that happened in 2020 was not the culmination of 4 years of sound planning and forewarning. It was Leeroy Jenkins applied to geopolitics. That is to say, the market is reacting now. To the market's credit, it hedged a few years hoping the UK wouldn't shit the bed, giving us some relative stability post-referendum. Until the UK started filling its pants and blaming everyone else for the stink.