UK: Slight shift in favour of a softer Brexit - TDS

Analysts at TD Securities note that in the UK, Theresa May won her confidence motion by a margin of 200-117, a majority of 83 and was somewhat low compared to the rumours, but consistent with the dissent expected were she to have held the vote on her Brexit Deal earlier this week.

Key Quotes

“This implies some slight shift in favour of a softer Brexit as Brexiteers in the Conservative Party now need Theresa May to resign to have a chance of leading the Party within the next 12 months. But this changes very little from here for newsflow. EU leaders are still likely to say nothing fundamental can change in the agreement. The DUP is likely to continue to insist that no plan with a backstop is acceptable to them, meaning a deal only passes with Labour support. And all UK MPs will make clear that there is no majority at this point for any plan.”