Didier BOROWSKI, Andrea BRASILI, Monica DEFEND, Bastien DRUT, Roberta FORTES, Eric MIJOT, Tristan PERRIER, Lorenzo PORTELLI, Silvia DI SILVIO, Ibra WANE
Fixed Income and FX Strategy
Risks of a no-deal Brexit have receded materially over the past few weeks, implying that the Bank of England is now more likely to keep its monetary policy on hold, in a wait-and-see mode over the next year. UK nominal yields have already removed most of the no-deal risk, having repriced up by almost 30bps from their October lows, and are seen moving more in line with the global trend in nominal rates going forward.
Sergio BERTONCINI, Tristan PERRIER, Silvia DI SILVIO