Berenberg’s Pickering Sees 30% Chance of Hard Brexit

The video discusses the probability of a hard Brexit, highlighting a 30% chance and the potential for it to occur by default if no deal or delay is agreed upon by March 29th. It examines the political dynamics, including Theresa May's role and the impact of the new independent group on the Conservative Party. The discussion also covers market reactions, particularly the effect on sterling, and predicts various Brexit outcomes, including a semi-soft Brexit with different probabilities for each scenario.

What does the speaker suggest about the market's pricing in relation to Brexit?

What is the speaker's base case for the outcome of Brexit?