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Through the Brexit fog
Investment Solutions - Chief Investment Officer

Dear Investors,


This week we look at the latest twists in the Brexit saga, and Mr Johnson’s revised Withdrawal Agreement.


Key takeaways:

  • The UK parliament passed the Letwin amendment, which defers approval of Boris Johnson’s withdrawal agreement until the necessary legislation is adopted
  • The Prime Minister has reluctantly asked for another Brexit deadline extension
  • Mr Johnson will push a majority to approve his withdrawal agreement, and seek another vote this week
  • The proposed transition deal would create a customs border for goods across the Irish Sea
  • The risk of a no-deal Brexit is dissipating, and we initiated a GBP overweight last week.

Best regards,

Stéphane Monier
Chief Investment Officer, Lombard Odier Private Bank

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