By Paul Jackson, Global Head of Asset Allocation Research; Arnab Das, Global Market Strategist, EMEA
How much of a surprise was yesterday's UK election outcome? Actually, it was very similar to the seat-by-seat projections we published a month ago, which forecast a clear Conservative majority in Parliament. The difference is that the Conservative Party won a few more seats than we expected (365), as did Labour (203), and the Liberal Democrats did much worse than we anticipated, taking 11 seats.
What does this mean from a political perspective?
- We have more certainty