CORNELL UNIVERSITY MEDIA RELATIONS OFFICEMarch 28, 2017 Watch for volatility spikes after May triggers BrexitAndrew Karolyi, professor of asset management and finance at Cornell University’s SC Johnson College of Business, says that after Prime Minister Theresa May triggers Brexit on Wednesday, investors will be looking for clues in volatility spikes in markets with similar political pressures toward exit, like Greece, Italy, Spain, Hungary, and France.

Bio: https://www.johnson.cornell.edu/Faculty-And-Research/Profile/id/gak56

Karolyi says:

“Prime Minister May has declared unequivocally for the government to initiate Article 50 negotiations. There is at most 5 percent uncertainty about this even, so the consequences for the Pound Sterling, the FTSE or UK gilts are minimal regardless of the speculated direction.

“The true uncertainty is about how the negotiations will play out. Whether it will be extended or brief, whether there will be turns or twists, and, most interestingly in my opinion, how it will impact markets around the EU who have governments with similar political pressures toward exit.

“What I will watch for on Wednesday is volatility spikes in Greece, Italy, Spain, Hungary, and France around May’s impending announcement and the fall out.”

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