Brexit Update from JPM
JPM: As the threat of an October no-deal Brexit fades, a January no-deal event is a rising risk. Parliament passed a law forcing PM Johnson to request an extension by October 19 if no deal can be reached with the EU, and talks between the two sides show little progress. It looks likely that Johnson will either have to renege on his promise to leave the EU on October 31, or resign as PM. An election by year-end now appears almost inevitable; polls suggest the Conservatives might secure a Commons majority in a general election if the “leave” vote coalesces around Johnson while “remain” supporters are divided between Labor and Liberal Democrats.