Nomura Sees Risk Brexit Will Create `Two Centers of Liquidity' in Europe

The transcript discusses the preparations for a hard Brexit, including moving staff from London to Frankfurt. It highlights the potential impact on London's financial ecosystem, the risks of liquidity fragmentation, and the challenges of maintaining capital and funding pools. The conversation also explores the possible market implications of a hard Brexit, such as currency struggles and shifts in UK gilts.

What is the estimated number of people Nomura plans to relocate to Frankfurt and the continent in preparation for a hard Brexit?

• Between 10 and 50

• Between 50 and 100

• Between 100 and 150

• Between 150 and 200

What is a major concern regarding the City of London post-Brexit?

• Increase in local employment

• Fractionalization of the financial market

• Decrease in real estate prices

• Improvement in public transportation

How does the speaker describe the City of London's ability to handle changes brought by Brexit?

• Incapable of adapting

• Likely to collapse

• Unlikely to be affected

• Able to adapt and survive

What is a potential risk mentioned in relation to liquidity due to Brexit?

• Increased liquidity in all markets

• Fragmented liquidity across centers

• No change in liquidity

• Complete liquidity in London

What financial instrument is mentioned as potentially experiencing a 'flight to quality' in a hard Brexit scenario?

• Japanese yen

• UK gilts

• US Treasury bonds

• German bunds