*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).
In a post-election press conference, President Trump vacillated between subdued and combative as he called Tuesday's election ー in which Democrats took control of the House and several pivotal governorships ー a "very close-to-complete victory."
The Democrats may not have gotten quite the blue wave they were hoping for ー but for women in politics, Election Day was an indisputable success. "I think the night was better than you thought it would be going in. I'm seeing something like a pink tsunami, compared to that Democratic blue wave," Bustle senior political correspondent Erin Delmore told Cheddar on Wednesday.
Microsoft will continue to provide technology to U.S. agencies and the military, despite the objections raised by employees over how the products are being used, specifically with regard to immigration and border control. "We will be proactive in using our voice," said Microsoft President Brad Smith, speaking to Cheddar from the 2018 Web Summit in Lisbon, Portugal. "We think we'll be more persuasive if we're engaged than if we withdraw."
These are the headlines you Need 2 Know.
The 2018 Midterms may well go down in U.S. history as an election of firsts, with historic wins for Muslims, women, and LGBTQ candidates.
Michigan became the first Midwestern state to fully legalize recreational marijuana on Tuesday ー one of four states with marijuana-related legislation on the ballot in the 2018 midterms. Marijuana was one of the key issues up for review on multiple state ballots on Election Day Tuesday alongside criminal justice reform.
Americans woke up on Wednesday to a different political landscape ー if not the blue wave Democrats had hoped for. On the strength of female candidates and first-time voters, the Democrats successfully flipped the House of Representatives, gaining at least 23 seats, with more than a dozen yet to be called, according to the latest race calls from the Associated Press as of Wednesday morning.
Cheddar is following the election returns as they come in.
Political fixer-turned VC Bradley Tusk doesn't think it's sufficient to just bring voters to the polls ー he wants to bring the polls to them. "We know, fundamentally, democracy works when a lot of people vote, and it really doesn't work when very few people vote," Tusk told Cheddar on Tuesday.
The nation may get greener on Tuesday night. "There's a lot more senate and congressional races in which marijuana has become an issue than ever before," Cannabis Voter Project Director Sam D'Arcangelo told Cheddar's CannaBiz on Tuesday. "Marijuana now more than ever has become an issue that politicians are talking about."
