UK - EU Strike Trade Deal

• Media reports suggest Brexit deal is imminent, with announcement to come very shortly
• Final hurdles include details on fisheries and quotas
• £668bln deal allows UK zero-tariff, zero-quota access to EU markets – at a price

Numerous UK media outlets now see a Brexit deal being secured in the coming hours, finally ending a saga of re-negotiation that began after Boris Johnson secured a strong Conservative majority in 2019's December General Election.

The conclusion of a deal would remove one of the largest uncertainties for the UK economy headed into 2021, one that's had to be accounted for in forecasts at the Bank of England, the Office for Budget Responsibility and numerous sell-side forecasts. This should help a short-term recovery in business investment and consumer confidence – of particular importance given the re-escalation of the COVID-19 crisis and the likely reintroduction of stringent restrictions in early 2021. A return of these animal spirits and the swift roll-out of the Pfizer-BioNTech, AstraZeneca/Oxford and Moderna vaccines in H1 2021 could provide a considerable economic tailwind.

Full piece here: https://roar-assets-auto.rbl.ms/documents/7741/MNIMktAnalysisBrexitDeal.pdf