Kevin Mahn, President of Hennion & Walsh talks with Bobbi Rebell about how global markets will react to the Brexit decision, and why he believes the best investment opportunities are overseas.
The exit polls are set to close in and stocks have been trading up in Thursday's session here with Marquette mine is president at hanging. And lost great to see it go to for government so what if anything can we read into today's rally. I think the market has already priced in that even though it's going to be a very thin victory. Britain's gonna stay in the EU. And all that uncertainty surrounding if they leave when they leave both European domino in fact what will the effect be on the economic recovery won't be behind us. So tomorrow yes what happens each and I think we're gonna see someone else for a rally if in fact that is confirmed and and Britain stays in the EU but not as much as some might anticipate cause a lot of that's been treated to an already. But if in fact they vote to leave I think you could hear people back at least over the short term. Although popular I can argue over the long term this might actually better for the UK if they were believed the EU. And even over a longer term might even be better to you were broken up completely and all the countries return to repair their native currencies and you know they're wrong economic policies. Think Sony you also by the way speaking it all the international events you think it's it's something it's a good time for US investors to be looking abroad for direction. I think 2016 is the you're changing market leadership from one of those areas that's changing as we're going now. From domestic equity markets to international equity markets in terms of total return potential we're seeing emerging markets lead the way thus far in 2016. And I think once we get behind breaks it. And what we get some more certainty if we are well from the Federal Reserve you'll start to see more and more clothes going overseas and start to those markets to come. He's saying that but a lot of question whether we look at certainty because even when this vote there could be another. And with the fat people looking for certainty and it's always stated driven in Europe and passing the ball forward Jeff for quite some time so is their catalyst to look for when we can sort of it's because. It's seems as though that the goal posts keep change at least with the Federal Reserve we did she jobless claims about this morning at 43 year low. I think that's more evidence for the labor market is at least shoring up although you could question how accurate. It is to use that you re supposed these six rate but that should you have had copper at least raising rates one maybe two more times this year. But without being certain that makes the dollar stronger and makes it more difficult for you or Slorc so maybe looking overseas. Which is at the beginning stages of there are holes stimulus efforts and there are economic recovery is by far more. So are you in the July camp in terms of. The fact taking action yes I was also an acute care so I have to people disclosure there but I do think ovaries we're into July and I think there's announcement treasurys again here. And just finally your outlook for US stocks for the rest of the summer and we'll try and the way. Yeah I think they offer cannot bearish on US stocks are people continuing to secular bull market in order traits I praise for her time. But the other places of changing market leadership by fewer errors such as reads the energy sector Biotech outside of some letters that came out today. We all know the patent cliff with the big pharmaceutical companies are gonna replace that revenue overlooked apart text artsy opportunities there as well so there's plenty of room. For investors. And Hubert I think you can mine has lost about well this is fighters.