Conservatives win absolute majority. The path to Brexit is becoming clearer. Lower levels of uncertainty favourable to the pound. Long-term rates rise. BOE ready to cut rates.
Key Points
British voters are done with political foot-dragging on Brexit
Brexit will happen
In a good position to negotiate a softer Brexit
Although a technical recession was avoided in Q3, GDP was down already in October
BOE prepared to cut rates
Parliamentary election results likely to boost leading indicators
Positive shift in sentiment
Household confidence improves
Real estate at a standstill
Capital markets remain unattractive
Brexit more favourable to the pound than expected?
Persisting uncertainty with regard to equities and real estate