Hard Brexit vs Cool Brexit: How Will Each Impact Your Clients’ Portfolios?

The news that Prime Minister Teresa May’s Brexit deal was rejected by Parliament was not particularly surprising to anyone, including PM May. But ‘rejected’ doesn’t begin to put the loss in context – the result was the largest parliamentary loss in more than 100 years. This is an incredible outcome given the time and resources that were spent negotiating this deal and the political capital spent by PM May to gain the approval of lawmakers. Given the magnitude of the loss, it is no surprise that PM May immediately faced a second no confidence vote (which she survived).

Last week I published a piece about where I thought the chips would fall with the Brexit vote. This result strengthens my belief that there will be a second referendum, and indeed more professional pundits are saying the same thing in the wake of the defeat. There is also indication that citizens of the UK support staying in the EU (though it should be noted that the polls were wrong prior to the original Brexit vote).

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