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Rising Risk of No-Deal Brexit
By Advisor Perspectives
With the pound sliding to two-year lows, currency markets are signaling a higher probability of a no-deal Brexit. But the fallout from no deal would hurt the rest of Europe, too, and add to downward pressure on euro-area bond yields.
Much has changed since we wrote our last Brexit update in May: the UK has a new prime minister (Boris Johnson) and a new cabinet full of Conservative members of parliament (MPs) determined to leave the EU whatever the cost. But much remains the same: Brexit is no less complicated, the government is still weak and divided, Parliament is still against a no-deal exit and the EU is still opposed to reopening the withdrawal agreement reached with Theresa May.
Read more at Advisor Perspectives.