Boris in the British Saddle
The man who as a child said he wanted to be “world king,” just took a step closer. Boris Johnson is in his first hours as Britain’s new prime minister, and born in New York, he’s even entitled to a run for US president! First, the market has questions, not least about Brexit and trade!
Boris is a brand. Over more than 15 years in politics and as Mayor of London, Brits have seen Boris sink backward basketball shots, get stuck on a Zipline, and almost capsize himself in a rowing boat. Depending on whom you ask, Johnson’s comical antics either elicit a raised eyebrow, a chuckle, or a Great British tut.
Running for the leadership of the Conservative party (think slightly left of the Republican party), Boris divided opinion. Skeptics view the man as a clown, but he’s no dummy, and some don’t trust the scheming underneath his irresistible, blunder-full image. Still, this wasn’t a people’s vote, so that didn’t stifle the success of his campaign. His party already in power, Boris won the race for Downing Street by a ratio of 2:1 thanks to his colleagues’ votes, beating underdog Jeremy Hunt.
With Boris in the hot seat, what can investors expect from Brexit? As a steadfast “leaver,” the market can expect it to happen, at-least. With trade tensions hitting new peaks and a European economy gasping for growth, a smooth conclusion to the three year deadlock is both Johnson’s and investors priority. The keyword being ‘smooth!’
Following the UK’s withdrawal from the bloc, it’s crucial for investors that Boris seal some new trade deals, as well. President Trump welcomed his stunt double to the world leaders elite yesterday, and the two appear to share quite a bit in common; critics, a populist edge, and even a hairdresser! The market’s waiting on them to cut a deal, and for Boris to name his backroom team. This is going to be one hell of a ride!
