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This edition of UK Capital Markets Briefing asks is there hazard approaching? UK commercial property markets have seen a notable rise in caution in recent weeks, with prime yields stabilising and upward pressure in many secondary markets. To a degree this represents part of trend evident for some time, with yields down only 5bp since last August as investors have assimilated past yield falls and future growth in light of a range of global risks. However it is also clear that this trend has intensified as Brexit has drawn closer, slowing decision making and now precipitating a rush to safety in some asset classes.