Fitch releases an update on their take on Brexit

Intensification of political divisions within the UK means there is a wide range of potential Brexit outcomes

Slow progress in negotiations with the EU aren't helping that either

Base-case assumption that the UK would leave the EU in March 2019 with a transition period until December 2020 looks more uncertain now

No-deal Brexit is also a material possibility

The note basically reiterated several times that no one scenario of a Brexit outcome looks more likely than another now. In other words, this is about as uncertain as it's ever been when it comes to determining which Brexit outcome is most likely to materialise.





Fitch's last update did not give much hope for a no-deal Brexit outcome, but with all the talk that has been going on it now ranks as an equally likely outcome as the other scenarios. That pretty much says it all in terms of how the Brexit perception has shifted over the last few weeks.



