© Reuters. FILE PHOTO: A J.P. Morgan logo is seen in New York CityLONDON (Reuters) – JPMorgan (NYSE:) has raised its odds of a Brexit trade deal to 80%, up from two-thirds, as negotiators from Britain and the European Union try to clinch an accord before the end of the year.
“Since the summer we have put the odds of a deal at about two-thirds, and no-deal at a third,” JPMorgan said in a note to clients on Tuesday.
“Given the recent newsflow, the likelihood of a deal is clearly growing, and hence we shift our assessment to 80-20 in favour of a deal,” it said.
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