As predicted, the British Parliament voted against Prime Minister Theresa May’s Brexit on Tuesday evening. This second rejection means the Parliament will on Wednesday evening vote on the desirability of a no-deal Brexit and, presuming the scenario is rejected, vote again on Thursday on the question of whether the U.K. should ask the EU for a Brexit deadline extension.
JPMorgan now believes the likelihoods of a second referendum or a fresh general election have gone up, but it still says the most likely option is that May somehow gets Parliament to back her deal on a third attempt.
