If May Suffers a Big Brexit Defeat It's Back to Square One: UBS

The transcript discusses the market's perception of Brexit outcomes, particularly focusing on the probability and impact of a no deal Brexit. It highlights that while a no deal Brexit is not the most likely outcome, it remains a legal default and could significantly affect the pound. The discussion also covers political dynamics and how they influence market expectations, with a focus on the potential outcomes of upcoming votes and their implications for the pound and the broader market.

What factors are influencing the market's optimism regarding a Brexit deal?

What are the implications of a narrow versus a wide defeat for the deal in Parliament?