As we have been saying for several quarters UK equities are the most unloved asset class in the world, shunned by overseas investors ever since the Brexit vote. There are though several reasons why the romance could be rekindled. The FTSE All share yields nearly 4%, the biggest gap over 10 year Gilts (1.3%) since WW2. The P/E of 13.5x is not too far above the long-term average and cheaper than overseas markets such that the UK is looking reasonable value. There is maybe also a sense that we have seen Peak Brexit (slowly moving to a fudge on all sides and issues), Peak Corbyn (poor local elections) and Peak Household Squeeze (inflation falling, wages rising). Add in the stalling rally in the pound and it is maybe no surprise that the UK market is starting to shed its pariah status and play catch-up with other developed markets.