Get ready for more market reaction to Brexit

Sterling and the stock market are only likely to settle once the UK’s new relationship with Europe has taken shapeA lame-duck prime minister; a (so far) silent chancellor; an opposition party in turmoil; a possible general election in the autumn that could produce a hung parliament; and the threat of a second referendum in Scotland. Do not be surprised if financial markets take a second look at Brexit and decide that Friday’s initial response was too tame.The $2tn (£1.5tn) of s