Paul O'Connor: May's 'hard Brexit' offers 'Hobson's choice'

Investors who kept abreast of the major newspapers over the past few days gleaned little new information from Theresa May's speech on the UK leaving the European Union (EU). Indeed, the vast majority of the content had been gradually leaked into the public domain since the weekend. In short, the government's key objectives - full legal sovereignty and an end to the free movement of labour - are incompatible with membership of the single market and, for the most part, the customs union. As a result, the government will pursue a so-called ‘hard Brexit' and will attempt to negotiate a bespo...