Investment Conundrums: BNY Mellon's Dhar on why UK assets will remain cheap in any form of Brexit

Significant amount of bad news 'baked in' to markets

The UK's economy is "flexible" enough to handle the consequences of a no-deal Brexit even if the immediate aftermath of such an outcome results in a sterling and domestic equities sell-off, according to chief economist at BNY Mellon Investment Management Shamik Dhar.

The former chief economist and director for economics at the Foreign and Commonwealth Office, who joined the firm in September, is bullish on UK equities, which he said will ultimately be boosted as a result of any Brexit outcome. Brexit Blog: Hunt and Johnson vow to deliver Brexit with or without a deal At the moment, Boris Johnson and Jeremy Hunt are the final two candidates to replace Theresa May as Prime Minister, with the winner of the Conservative party membership's postal ballot set to be announced on 23 July. Both have said they are willing to take the UK out of the...