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12/18/2019, 3:11 PM (Source: TeleTrader)
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JPMorgan sees 25% risk of no-deal Brexit

American lender JP Morgan Chase & Co. said on Wednesday that it believes the possibility of the Brexit transition period ending without a trade deal between the United Kingdom and the European Union is "uncomfortably high."

"We have put the risk of a 'no deal' end to the transition at 25%, a number we regard as uncomfortably high. The negotiation process is path dependent and we could find ourselves on that path even though neither negotiating views it as their first preference," JPMorgan stated in a note.

Earlier, Fitch and S&P stressed that chances of a no-deal Brexit have decreased after the Conservatives secured a majority in last week's elections. However, fears of the UK crashing out of the bloc without a deal resurfaced after Downing Street insisted Boris Johnson's government will not allow any extension of the transition period beyond December 2020.

Breaking the News / NP