Analysts at Nomura, despite all of the no-deal angst out there, argue that a deal is more likely than no deal.
Key Quotes:
“A deal secured with the EU before Brexit day is therefore our base case. But if the timeline slips and no deal is agreed by October, it’s likely a political statement of intent to agree a deal by December will still be given, with the aim to help alleviate market concerns.”
“But on its own it would still make “no deal” Brexit headlines and with it market pricing for such an event rise as a result (lower GBP, lower Gilt yields).”
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