March 13 is in the books here on Wall Street. Here's the New York Minute. We've had another very calm day in New York on trading, as people await winter storm Stella tomorrow and fetch [INAUDIBLE] day after. In Europe and the UK things have been rather more interesting.
This is what happened to the pound over a long period of history. You can see, obviously, that the devaluation after the referendum was a very big deal. But we haven't seen a clear further move downwards since even though we know that Brexit is going to be somewhat harder than people initially thought. A lot still remains in question, as we approach the moment when the UK makes its breach irrevocable.
Meanwhile, if you take a look at how the FTSE-250 has performed compared to the rest of the world, again, a huge sell-off initially, but it has not underperformed any more since then. As for the UK gilts market, it's actually made up its ground against most other bond markets, particularly in Netherlands, where people are rather worried about their election next weekend. So there is still much in the balance as we wait for Article 50. And that's the New York Minute.