Pole position

Polish markets experienced only a brief setback after the tragic plane crash that claimed the lives of many of its leaders. Why? asks, Patrick Bradley of Legg Mason affiliate Brandywine

In April a plane crash tragically took the life of Poland’s president, his wife, and a Polish Central Bank governor. A number of other members of Poland’s political and military establishments perished as well. Such a blow at the heart of a country’s leadership should produce uncertainty that would be reflected in Poland’s currency and sovereign government bond market. While the markets experienced a brief negative reaction, they quickly settled back into patterns reflective of their underlying fundamentals. Why? Because Poland’s institutional framework remains on sound footing. What ...