Market Comment | Brexit roller coaster

Summary

Financial markets remained volatile amid mixed Brexit news and gloomy outlook for Germany’s economy. An EU-UK deal was reached, but still needs the backing of the UK Parliament.

Key points

• Key points:
• The pound whipsawed as Brexit uncertainty lingers.
• U.S. stock markets rose to near record highs as earnings continued to surprise positively.
• U.S. industrial production deteriorated more than expected with markets pricing in 85% probability of a Fed rate cut by month-end.

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