FTSE rising whilst prospect of FTA seems to be fading

John464

All I know so far is this will be a deal that puts up barriers to trade we haven't got now

Alexland

John464 said:

All I know so far is this will be a deal that puts up barriers to trade we haven't got now

A deal is still better than whatever probability of a no-deal has been included in the pricing.

eskbanker

John464 said:

All I know so far is this will be a deal that puts up barriers to trade we haven't got now

Perhaps I'm missing a dazzlingly satirical meaning here but surely the decision to leave the single market, etc, inherently entailed new barriers but the FTA sets out to minimise them, i.e. of course there are more barriers than before as we 'take back control' but there will be fewer than there would have been with no deal, so painting the deal itself as putting up barriers seems to miss the point....

MaxiRobriguez

More to the point we've had these arguments for the past four years. Everyone knows the impact of leaving the single market and customs union, it's been done to death. What wasn't known was the outcome of final trade discussion talks, whether we would lapse into a no deal scenario with chaos at borders and international reputation trashed (even further), or if there would be a light touch agreement which will allow some managed distruption and go a little way to mending international reputation. 

A Brexit deal is good news for pretty much everyone in the UK apart from the unpatriotic ERG who will spit their dummy out over the next few days. The deal will never suit everyone, especially remainers, but at this late hour the least worst option seems to have been got, which is better than the alternative.

Remainers need to move on now and stop fighting old battles that have been lost. 2021 is the year you can start arguing for adapting the trade deal and closer alignment, and seeding discussion for rejoining in many years time.

Thrugelmir

John464 said:

All I know so far is this will be a deal that puts up barriers to trade we haven't got now

I've been importing for 20 years from the US. Hasn't proved that diffficult. 

Thrugelmir

Alexland said:

The plan seems to be going well so far this morning with newly acquired CTY in our S&S ISAs up 1.5% on strong Brexit rumours but the global trackers in our Pensions/LISAs down about 0.5% on currency movements. Overall we are down a bit but it's rebalancing wealth from pensions into S&S ISAs which is what I wanted. LSE will probably close just after lunchtime so I hope they make the announcement early enough that I get to see my Christmas present of whatever hasn't been priced in already.

Across the entire portfolio I'm currrently up 2.3%. Increased weighting to UK since early November has certainly helped. The removal of uncertainty is a major step forward. 

MK62

This "deal", whatever it actually is, has still to be ratified by both sides, so perhaps we shouldn't be counting our chickens just yet.......there's plenty of mileage still left in this saga I suspect.

Thrugelmir

MK62 said:

This "deal", whatever it actually is, has still to be ratified by both sides, so perhaps we shouldn't be counting our chickens just yet.......there's plenty of mileage still left in this saga I suspect.

Not both, but multiple sides. We alll know Spain is going to object because of the dispute over Gibraltar for a start. 

The main thing is that there is a path along which to proceed and move forward.

MK62

A bit pedantic......yes, Spain could object, as could France, or indeed even Wallonia......and even if they all agree to ratify, the EU Parliament could still veto, as could the UK Parliament.......anyway, the point is that ratification of any deal is far from certain, even if the UK and EU can agree on a deal to propose.

Thrugelmir

MK62 said:

A bit pedantic......yes, Spain could object, as could France, or indeed even Wallonia......and even if they all agree to ratify, the EU Parliament could still veto, as could the UK Parliament.......anyway, the point is that ratification of any deal is far from certain, even if the UK and EU can agree on a deal to propose.

 At least the UK can now move forward irrespective of internal EU political bickering. History within the EU sugggests there's always one party that raises objections. The positive is that the challenges created by Covid can be focused on fully with no distractions.