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Mixed reactions to PM May`s no-confidence vote...>

UK: Mixed reactions to PM May`s no-confidence vote win:
- Citi: The results of last night's vote might just make a pivot to a Norway
Plus option more likely in the near future.
- Natwest: For all the high drama... in terms of Brexit outcomes the reality is
that little has changed (this conclusion would even have held had May
resigned).. probabilities little altered: 5% no deal, 45% Remain (prob via 2nd
ref. though Art 50 revocation also poss.), 50% Parl. ratification of May's deal.
Market pricing looks overly pessimistic given reduced likelihood of no deal.
- Morgan Stanley: Reduces risk of a no deal outcome, and improves prospects for
her deal passing...If it does not pass, we would expect a run-off - with a
decision likely needed by end Jan to allow an orderly process - between the
government's deal and 2nd referendum, with a persistent risk of early elections.
- Rabobank: Nothing has really changed in the Brexit narrative, which remains
decidedly absent seasonal good cheer.
- SocGen: Does nothing to deliver a Brexit deal that is acceptable to Parliament
and the rest of the EU...isn't much to help sterling therefore.

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