*By Brian Henry*
Even as British Prime Minister Theresa May suffered an embarrassing defeat as her Brexit vote was voted down in Parliament, and then only narrowly survived a no-confidence vote, investors remained relatively unrattled.
According to Chris Demetriou, the U.S. CEO at Aberdeen Standard Investments, the mild response to the vote was not a surprise.
"There are two elements to it," he told Cheddar Wednesday.
"The vote \[Tuesday\] and the no confidence vote \[Wednesday\] weren't really a surprise to anybody. It's long been speculated Theresa May didn't have the votes to carry the deal through Parliament."
Demetriou said that the decision by British lawmakers to reject the Brexit deal by such a historic margin ー 432 to 202 ーearlier this week actually has investors feeling confident.
"The resounding defeat, the size of the defeat, really suggests that a tweak to the deal probably isn't going to help get it through either. I think that, perhaps, is giving investors confidence that the can will be kicked down the road or potentially even a more formal withdrawal of Article 15."
"Investors want as a little change as possible in the current arrangement," he added.
Demetriou says productive trade talks between the U.S. and China as well as the Federal Reserve displaying patience on future rate hikes have led to less market volatility.
"A lot of the uncertainty we saw in the back end of the year, the escalation of trade discussions, perhaps concern around fed policy coming into 2019 ー a lot of that has reversed in the beginning of January."
But will the relative market peace last?
"There's a lot of positive news or certainly constructive news out there to offset some of the uncertainty that exists," Demetriou said.
"We do expect continued uncertainty, which breeds volatility in the markets and that will continue throughout the year."
For full interview [click here](https://cheddar.com/videos/the-uk-government-survives-no-confidence-vote-after-brexit-defeat).
Markets opened slightly higher to kick off the final trading week of the year as investors continue to watch the Omicron variant in the U.S. Sean O'Hara, President, Pacer ETFs joined Cheddar's Opening Bell to discuss what drove early market activity.
Carlo and Baker kick off the weirdest week of the year with all the news you missed over the holiday weekend, including calls for the CDC to shorten its isolation window as Omicron sweeps through the country.
Former professional tennis player Patrick McEnroe joined Cheddar to discuss the troubling issues surrounding player Peng Shuai who appeared potentially to have been silenced following her social media post accusing former Vice-Premier Zhang Gaoli of sexual assault. Shuai's subsequent disappearance, reappearance, and apparent retraction of the accusation in an interview only added to worries. "When this happened, all of us in the tennis community were very concerned. And, by the way, another thing Peng said in this interview was that she doesn't speak very good English," McEnroe noted. "Well I can assure you, she speaks darn good English, 'cause I spoke to her on many occasions over the last 15 years."
Universities like UCLA, Yale, and Duke have announced they're implementing remote learning amid the COVID omicron variant surge, despite President Biden recommending that K-12 schools should continue in-person education. Jared C. Bass, senior director for Higher Education at American Progress, joined Cheddar to break down what institutions of higher education might be considering differently. "I think some universities are allowing periods of a bit of a respite to allow students to get testing and make sure when they do return back to campus that they're healthy," he noted.
The S&P closed at a record at the major markets ended Thursday's session higher for a third straight day. Adam Coons, Portfolio Manager at Winthrop Capital Management, joins Cheddar News' Closing Bell, where he discusses what has investors feeling jolly before Christmas, and gifts investors with winning buying opportunities entering 2022.
The Supreme Court will hear arguments on President Joe Biden's vaccine mandates for large companies and health care workers on January 7, 2022. The mandates will remain in place until then.
Carlo and Baker cover the heartening news on the Covid front ahead of the holiday, plus President Biden punting student loan repayments again, a new space telescope and Love, Hate, Ate: Christmas Eve Eve Edition!
This year's worldwide semiconductor shortage limited the supply of everything from new cars to smartphones; and now, many in the chip industry expect the shortage to continue deep into 2022, and maybe even 2023. Semiconductor senior research analyst for Robert W. Baird & Co., Tristan Gerra, joins Cheddar News' Closing Bell to discuss.
