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While no deal is not the most likely scenario in our view, the risks are rising. The UK outlook is binary. A Brexit deal could see sterling bounce to 1.40 against the dollar, but no deal on 31 October could see a further slump to 1.10.
A close look at the Progressive Agenda, China���s deteriorating welcome mat in DC and US Tech IPOs
In this paper, we assess the potential risks associated with such a strategy by stressing capital requirements using spread-implied ratings.