UK: Several more property funds had to suspend redemptions - BBH

Research Team at BBH, notes that the UK IP fell -0.5% m/m in May vs. -1.0% expected and manufacturing also fell -0.5% m/m vs. -1.2% expected.  

Key Quotes

“Several more UK property funds had to suspend redemptions, bringing the total up to seven since the Brexit vote.  The second round of the Tory leadership vote will be held today, with the top two candidates going before a vote by the wider Tory membership.  A new leader should be declared by September 9.”