UK bank bonds wobble under political uncertainty

By David Freitas
31 Jul 2019

UK bank debt has been having a hard time this week, with spreads gapping out by about 15bp on fears that the country could crash out of the European Union without a deal.

Since Boris Johnson became the UK’s prime minister on July 23, the likelihood of a no-deal Brexit on October 31 has increased.

Since his appointment, Johnson has shown little flexibility in negotiating with the European Union or with the parts of the UK parliament that remain opposed to ...

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