Reuters reports, citing EU and UK sources familiar with talks

  • Negotiations on fisheries are "stuck"
  • No agreement on level playing field either
  • EU wants to prescribe joint standards in more detailed way, but UK is against it
  • Talks failed to overcome differences over state aid
  • Also failed to address EU demand for independent oversight body in the UK to police any agreement between both parties
  • But expect good progress on joint legal texts for other areas

The pound is not really budging to the news but the market may very well keep this in view until after the US election is out of the way. Nonetheless, the above reaffirms that despite all the political theater and talks that followed after, nothing has changed.

It looks like we may be going down to the December deadline before more shenanigans come into play. This is just about as Brexit as things can get.