14
Dec
The UK to pay 50 billion, but the hardest part has yet to come
Brexit negotiations resuming. GDP holding up (+0.4%). The BOE to keep rates unchanged for a time. Inevitable increase in long-term rates. Lethargic equities market.
Key points
- GDP up +0.4%, or +1.5% yoy
- Finally, sufficient progress to move on to the second phase of the negotiations
- Is the UK giving up? The hardest is yet to come
- All sectors of the British economy are worried about regulatory risk
- The pound should benefit from the resumption of the negotiations process
- Monetary policy likely to remain unchanged
- GDP is eroding, while leading indicators are pointing to an economic slump
- Real estate prices increased +3.9%
- The bond market cannot remain indifferent to the pick-up in inflation
- Lethargic equities market
