Why Traders Are Taking a No-Deal Brexit Threat In Their Stride
- U.K. markets are holding up in the face of Brexit pessimism
- Cheap valuations and monetary support are among the reasons
Haulage trucks near the Port of Dover Ltd. in Dover, U.K., on Dec. 11.
Photographer: Chris Ratcliffe/BloombergThis article is for subscribers only.
With just three weeks to go, Britain is hurtling toward a no-deal Brexit and yet markets are decidedly sanguine on the looming economic shock.
It’s a scenario that few imagined a year ago. Helped by dollar weakness, the pound isn’t far from the highest in two years and the FTSE 250 Index is down just 3% this week. The spread between French and Irish debt, a gauge of Brexit anxiety, is the narrowest since September.