Author: NN Investment Partners
UK Prime Minister Theresa May’s attempt to strengthen her hand in coming Brexit negotiations with the European Union backfired last week as her Conservative Party lost its majority in Parliament. While the risks resulting from the election are primarily domestic in nature, the resulting “hung Parliament” worsens visibility for the country’s exit from the EU. The European Central Bank, meanwhile, took a small step towards preparing markets for a gradual withdrawal from its stimulus programs of recent years as the Eurozone economy maintains a steady pace of growth.
