No end in sight for Brexit blues as UK banks face up to choppy markets

By Tyler Davies
07 Mar 2019

UK banks have surfaced in the unsecured debt markets for the first time in about four months, buoyed by optimism about a series of crucial votes on Brexit in parliament next week. Experts suggest that the country’s financial institutions will have to get used to these sorts of narrow issuance windows, with the country yet to even start the most challenging stages of its exit from the European Union.

Faced with paying a “Brexit premium”, UK financial institutions have largely steered clear of issuing new debt in the run-up to the country’s scheduled departure from the EU on March 29.

But credit spreads across the sector have been tightening rapidly in recent days after UK prime minister ...

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