The attempt to build a positive narrative around progress toward a working agreement on Brexit has come to a screeching halt and sterling is selling off hard as Prime Minister Theresa May has rejected the European Union's latest proposals out of hand. The stiffness of her resistance today took on a suddenly more aggressive tone as she said that the current EU proposal is a no-go, that no deal is better than a bad deal, and that she won't change the course on the UK's Brexit strategy. This impasse comes awkwardly after a dribble of more positive spin on the negotiating stance on both sides and after some strong data ... (full story)