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Citi Wealth Insights

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Brexit: 3rd Meaningful Vote likely as well as more EU discussions

PM May team’s remains in talks with Northern Irish (DUP) lawmakers whose support she needs to get her deal over the line (twice rejected) in a 3rd Meaningful vote likely this week (March 20).
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Brexit developments overnight - Another Chance For PM May?

PM May gets her way – the UK Parliament overnight approves the government’s Brexit delay motion by 412-202 votes that would allow it to seek an Article 50 TEU extension until 30 June if Parliament passes PM May’s deal in a third meaningful vote before next week’s EU summit.
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UK parliament rejects “No Deal” Brexit and other hard Brexit options

Cable rallies over 300pips overnight (hits a 1.3380 high) as the UK parliament emphatically rejects a “No Deal” by voting twice....
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Brexit deal defeated but GBP still resilient

Overnight, cable whips around in a ~210pip range of 1.3000-1.3210 in NY trading as the Meaningful Vote (mark 2) on PM May’s Brexit deal approaches.
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UK secures legal changes to Brexit backstop

Bloomberg reports that UK PM May’s effective deputy David Lidington this morning declares that the UK government has been able to secure "legally binding changes" to the Irish backstop from the EU.
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China’s Jan-Feb Credit Data Remains Encouraging for Growth Stabilization

M2 growth decelerated by 0.4ppt to 8%YoY in Feb, worse than expected (at 8.4%YoY)
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