Citi discusses the latest Brexit deal developments.
"Br A big hurdle may be close to being crossed should the EU summit endorse the UK Brexit proposal on Friday but yet another hurdle still remains - UK parliament sitting on October 19 to debate and pass the Brexit deal," Citi notes.
"What is needed to pass the deal in the UK parliament? – (1) Boris Johnson will need the support of the DUP, the hard – core Brexiteers within the Tory Party and the 21 rebel Conservatives, dismissed after Theresa May stood down as PM (Boris Johnson has indicated there may be a path back for the ex-Conservatives if they back the Brexit deal). (2) But even if all Conservatives (and ex-Conservatives) plus the DUP vote for the Brexit deal, they would will still likely fall short as Boris Johnson currently rules in a minority government, meaning that he will need at least 10 – 20 members of the opposition to vote for the deal as well," Citi adds.