UK: Market not overly impressed with the results of the two by-elections - BBH
|Research Team at BBH notes that the UK market does not seem overly impressed with the results of the two by-elections held yesterday.
Key Quotes
“As the polls warned, the government picked up a seat from the opposition party for the first time in years. On the other hand, Labour held off a challenge by UKIP in an area in which Brexit camp easily carried the referendum. The uphill fight for UKIP to win seats in Westminster reinforces our sense that despite the spin, the UK has not truly embraced the populist-nationalist moment as much as the hard Euro-skeptic wing of the Tories managed to oust the soft Euro-skeptic wing, with admittedly far-reaching implications.”
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