DAVY VIEW

We expect the EU will extend Article 50 to January 31st but with the option for the UK to leave at any time once it passes Boris Johnson’s deal. So the UK could still leave in early/mid-November, with the Conservative Party waiting until after Brexit to call an election. Attention will soon turn to EU/UK negotiations on a future trade agreement, unlikely to concluded by December 2020, with Michel Barnier appointed to oversee the talks.