with us is still richard turnill of blackrock institute.se appointments we're anding about our second third day appointments. the real news is the foreign secretary and the brexit negotiator and the chancellor of the exchequer. brexit forbility of those who campaigned to leave the eu. an attempt to reunite a divided party, but also a strategy so that any difficulties encountered, that those lie at the door of those who got britain into the situation. it is interesting that these are not well known outside of the u.k., with the knownion of boris who is for his gaffes more than anything else. scarlet: his charisma. there might have been frantic googling in europe over who david davis was. scarlet: he is the chief brexit negotiator. emma: it is a clear vision of what grexit could mean for the u.k.. an optimistic vision. jp morgan thanks britain can have it both ways. can keep access to a single market. scarlet: and limit the freedoms of eu citizens who live and work in the u.k. as positive --t pcs brexit as positive, getting rid of bread tape.

joining us to discuss it is richard turnill, the global chief investment strategist at black rock.d morning. good to see you. >> good morning. >> what stands out in this market action, actually is the resilience in the face of many geopolitical surprise, first brexit, and now a failed turkish coup, who do you attribute that to? >> lack of contagion has been one of the key themes we've seen for some time in markets. a number of individual shocks, but markets have continued to go higher. i think a lot of that has to do with central bank policy, effectively backstopping financial markets here. low interest rates around the world. the prospect for low interest rates for long periods of time to come and investors are looking for return and income and that is continuing to drive flows into some of the riskier assets we're seeing. >> the next test surely to be earnings. we'll get some consumer names and industrials starting this week. what's your expectations for those cyclical sectors, those that are most economically sensitive to the u.s.? >> well, we're hoping to see some signs of an a

markets for the second half of the year as well as the ongoing brexit impact we're joined by richard turnill chief investment strategist, joins us from london. richard, thanks for being here today. >> my pleasure. >> let's get straight to how the markets have changed in a post brexit world. how have your views on this changed? where are you feeling like there's opportunities and where are you feeling like you need to pull back a little? >> this feels more and more like we're an environment of low returns and high volatility for sometime. that post brexit, those things already being exacerbated. you're seeing returns being pulled down clearly in fixed income markets, the fallen yields and equity markets as well impacted by what's likely to be slower growth particularly here in the uk and rest of europe, also some impact on the rest of the world. then the political uncertainty ahead of us going to last not weeks or quarters but potentially for years. that's going to create ongoing volatility in the future. in that environment what will investment do, in come, equities and income, greater sourc