On 6 May, Scotland will hold parliamentary elections that could ramp up the push for a Scottish independence referendum. We believe this event and the prospect of another independence referendum could introduce market volatility.

The December deadline for a Brexit deal is quickly approaching. One consequence of Brexit was that firms couldn’t plan—or they were forced to plan for a no-deal scenario. It’s a big reason why the pace of business investment was so sluggish in the years since the 2016 referendum...