Exposure rates of the Dorval Asset Management Range – 10th January 2020

Boris Johnson’s victory at the UK general election on December 12 fueled a sharp surge in the pound and a stellar performance from equities in the country, as the markets welcomed the near-certain prospect of an orderly Brexit at the end of January 2020, and defeat for Jeremy Corbyn’s radical left.

However, Boris Johnson soon put paid to this euphoria when he again pledged that the UK would leave the single market at the end of 2020, which only gives the UK and the EU a few months to come up with a trade agreement and also means that the risk of a cliff-edge scenario for the exit from the single market at the end of 2020 cannot be ruled out. Nevertheless, at this stage, we do not think that UK equities should be sold. 

 

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