Wren: Brexit to Impact Earnings for up to 10 Quarters

The transcript discusses the outlook for the S&P 500, suggesting it may end the year higher due to stable valuations and dependable economic data. Brexit is viewed as an overemphasized scapegoat affecting market sentiment, with its impact expected to persist. Geopolitical events like Brexit and Turkey's coup attempt are considered minor in terms of global GDP impact, with the need for larger events to significantly affect U.S. markets. The discussion highlights the importance of confidence and fundamentals in driving market performance.

What is one of the main reasons the S&P 500 is expected to end the year higher?

• Increased interest rates by the Fed

• Valuations reaching fair values

• A significant drop in global bond yields

• A major economic recession in the US

How is Brexit described in terms of its impact on market sentiment?

• A long-term positive influence

• A short-term boost to the economy

• An immediate threat to global stability

• A scapegoat for slow growth

What is the expected duration of Brexit's impact on earnings according to the transcript?

• 1-2 quarters

• 5-6 quarters

• 8-10 quarters or more

• 3-4 quarters

What is the significance of Turkey's economic size in the context of global growth?

• It is a minor factor, less than a rounding error

• It is a major contributor to global GDP

• It significantly impacts the EU economy

• It is a key driver of US economic policy

What is the potential impact of geopolitical events like Brexit and Turkey's coup on the US market?

• They are likely to cause a major market crash

• They have minimal impact unless they are larger events

• They will lead to immediate economic growth

• They will result in increased interest rates