Citi outlines 3 scenarios for a Brexit deal between the UK and the EU.
"(1) An outside chance that the UK and the EU enter the final 'tunnel' phase of the negotiations in coming weeks to secure a political agreement before the European Council Summit on the 15 - 16 October. (2) UK and EU move to enter the 'tunnel' during or immediately after the EU Summit, with a del agreed by end of October. (3) UK and EU agree to enter the 'tunnel' in the latter weeks of October with a deal agreed by early November," Citi notes.
"Citi analysts think the end of October is likely a hard deadline of principle level discussions," Citi adds.