Investors Have Become More Cautious About the Prospects for British Assets
According to a quarterly survey of State Street Corporation (STT), institutional investors have become more cautious about the forecast for British assets before a key vote on Brexit in parliament. The proportion of investors seeking to raise their assets in the UK fell to 15% from 21% in the third quarter.
The British parliament will vote on Brexit deal on December 11. If parliament rejects Theresa May’s plan, the government will have 21 days to decide its next move. In this scenario, major political chaos is expected. UK Prime Minister repeatedly avoided asking whether she could postpone the vote on December 11, but hinted at possible concessions on the Northern Irish border.
Theresa May said that some in parliament are trying to thwart Brexit and that she does not think that another Brexit referendum is inappropriate.