Brexit update

We are braced for another week of potential headline-triggered volatility as Brexit talks drag on, with many hoping for this to be the final week (although that has been said before…) The weekend press was largely optimistic on the progress made towards fisheries, but other issues seem to be a bit further apart. However, it is a positive development that Barnier has travelled to London to continue negotiations (after earlier reports that he might cancel his trip if not enough progress had been made to warrant it). The Times also reported that the EU negotiating team is being bolstered with the addition of Stephanie Riso, one of the negotiators on the deal with Theresa May and who is close to Ursula von der Leyen. The Times reports that Riso is "is seen as someone who can help to find a solution." Elsewhere on the political front, the Commons will debate and vote on the new Covid-19 tiering system, which Prime Minister Johnson has already had to tell potential rebel MPs would see some areas downgraded before Christmas.

For more on the upcoming events for the UK this week see MNI Gilt Week Ahead.