‘Worse Than Brexit’: Scottish Independence Weighs on U.K. Assets
- ‘Long U.K.’ trade could unravel on referendum risk, UBS warns
- But ‘Mr. Brexit’ Jordan Rochester isn’t hedging for losses yet
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A week that could set in motion the eventual collapse of the 314-year union between England and Scotland is concentrating City trading desks on market disasters ahead.
As Scots enter a May 6 vote pitched on whether there should be a second independence referendum, fund managers and sell-side strategists see potential for massive chaos across the U.K.’s economic landscape in the years to come. Yet in an echo of the early days of the Brexit poll, few are hedging for this disruptive prospect.