Morgan Stanley: There’s still a chance Brexit could be “soft”

The chances of a hard Brexit have increased materially, although it is not yet inevitable, that’s according to Morgan Stanley analysts Jacob Nell and Melanie Baker, CFA.

In a research note published on Monday this week, Nell and Baker provided an update on the UK’s Brexit negotiations based on the developments of the past few weeks. After Prime Minister May announced that the infamous Article 50 will be triggered by the end of March 2017, starting the official two-year process of separation, the chances of a so-called “hard Brexit” have dramatically increased for the United Kingdom.

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