Analysts at TD Securities point out that as per their expectations, UK cabinet approved the proposed Withdrawal Agreement, though notably not unanimously.
Key Quotes
“Yesterday’s developments were broadly expected at some point this quarter, and the risk that the deal fails rests principally with the upcoming House of Commons vote, likely to take place in early December.”
“In the coming days and weeks we are likely to see many MPs voicing both support and opposition, with the hard-Brexit rebel ERG group, the DUP, and Labour the key focus. In the near-term, expect Theresa May to address the House of Commons on Thursday. Rumours of a leadership challenge should be taken seriously, though at this point it is likely the Prime Minister would survive a vote–if only just.”
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