Anthony Rayner: Markets struggle to price political risk

In April it looked as if Theresa May was right to call an early election. She seemed a safe pair of hands, the opposition was in disarray and a larger majority would strengthen her hand in forthcoming complex Brexit negotiations. It all sounded sensible enough, but politics is a funny old business. Fast forward two months - Brexit negotiations have started, the Conservatives have lost their majority, Theresa May is now almost as unpopular as Jeremy Corbyn was at the beginning of the campaign (YouGov), and Labour are ahead in the latest opinion poll (Survation). So what happened? The e...