Responses to the Brexit voting Tuesday continue

UBS with a dour outlook:

  • UK politics will have to get worse before it gets better
  • Either the House of Commons will need to be jolted into supporting a UKEU negotiated deal through the risk of 'no deal' or the EU will have to blur its red lines, or a combination of the two.
  • the UK's position has drifted again from the EU-27's again
  • There will be a lull now as the EU27 agrees a response, but it will surely still include some form of backstop and pressure will be back on UK politicians to accept a Withdrawal Agreement.