While the election result reduces Brexit uncertainty significantly, it doesn't eliminate it. Will there be an extension of the transition period? How will any deal affect the economy? In the meantime, UK banks and sterling, especially wounded since the 2016 referendum, still offer value, while low-yielding gilts look unattractive relative to other government debt, such as U.S. Treasuries.
Boris Johnson's sound victory in Thursday's election will lead his Conservative Party to its largest parliamentary majority since 1987. Unlike his predecessors Theresa May and David Cameron, Mr. Johnson now has a platform to govern as a