Moody’s: May’s resignation raises the odds of a no-deal Brexit

Some comments by Moody’s on the current Brexit situation

  • Uncertainty around Brexit is clearly credit negative
  • May’s departure amplifies the uncertainty around Brexit
Yeah, we’re now going to be moving towards trading the odds of who will become the next prime minister instead. Expect the next month to be filled with much volatility as the key Brexit points get shelved and the focus turns towards the Tory leadership contest.
It’s either we’re going to see a Brexiteer like BoJo take over or we could end up with someone who is Theresa May 2.0., but either way it won’t really help break the Brexit impasse.