*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).
Tubi Daily News Powered by Cheddar for the morning of November 11th, 2018
These are the headlines you Need 2 Know for Monday, Nov. 19, 2018.
These are the top stories, from Wall Street to Silicon Valley, that moved markets and had investors, business leaders, and entrepreneurs talking this week on Cheddar.
Michelle Obama's memoir, "Becoming," hit shelves this week, with a rollout that felt more like a concert tour ー including appearances by Oprah, packed stadium events, and near-universal morning TV coverage.
British Prime Minister Theresa May's Brexit plan had a turbulent rollout this week, but the British Trade Commissioner for North America said the path to a successful exit from the European Union is still on track. "So far, we are on course for the path that she set out just after the referendum almost two years ago," Antony Phillipson said Friday in an interview on Cheddar.
Facebook CEO Mark Zuckerberg is fighting back after the New York Times published an investigation into how the company failed to address Russian meddling in the 2016 election. California officials doubled the number of people missing as a result of the wildfires to more than 600. And Bill Oliver, director of the new sci-fi drama 'Jonathan,' joins Cheddar to discuss his new film starring Ansel Elgort.
Facebook's latest scandal has raised serious questions about founder and CEO Mark Zuckerberg's oversight of the troubled media giant.
A federal judge made a limited ruling Friday that the White House must immediately restore press access to CNN correspondent Jim Acosta on Fifth Amendment grounds.
After a machine recount of ballots in the U.S. Senate race in Florida between Republican Gov. Rick Scott and Democratic incumbent Sen. Bill Nelson found them still within a hair's breadth of each other, the state is now endeavoring to recount, by hand, millions of the votes cast. Cheddar's J.D. Durkin reports from Palm Beach County on the latest developments.
These are the headlines you Need 2 Know for Friday, Nov. 16, 2018.
