Sales of pound-denominated corporate bonds also had their longest drought in nearly two decades at the end of 2018, as borrowers shied away from a market rattled by Brexit uncertainty. The cost of insuring the subordinated bonds of major British banks has also been rising in recent months.
Status
Britain’s position as European hub of choice for international business has taken a blow. Japanese electronics groups Sony Corp and Panasonic Corp, insurer Chubb Ltd. and money-exchange firm TransferWise are among the companies who have moved their EU headquarters or set up new subsidiaries.
This article was provided by Bloomberg News.