UK banks stockpile funds as Brexit panic starts to build

By Tyler Davies
21 Mar 2019

UK financial institutions piled into the credit markets this week, despite the fact that the UK could be a week away from leaving the EU and its politicians have still not agreed on a course for withdrawal. They may have been just in time, with panic building around the risk of a ‘no-deal’ Brexit.

UK banks have had a revival in March, returning en masse to the credit market to take advantage of an impressive rally in the value of their existing securities.

Investors have largely moved over the last few weeks to price in the idea that there was no chance ...

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