May’s Tories Prepare for Possible Election Amid Brexit Divisions

The transcript discusses the ongoing Brexit situation, highlighting the potential for a general election and the market's focus on Brexit developments. It covers the EU's diminishing patience with the UK and the risks of a no deal Brexit, which could lead to a significant depreciation of the pound. Investors are preparing for potential outcomes by either exiting the market or buying volatility, with market volatility reaching levels not seen since the 2016 referendum.

What is the general sentiment among market participants regarding the risk of a hard Brexit?

What does the term 'buying volatility' refer to in the context of the pound-dollar options market?