Theresa May moves the market

After suffering what could be the largest Commons defeat in over a hundred years – far surpassing anyone’s expectations, it’s fair to say that Theresa May will not be happy with the way things went this evening.

So she might take comfort in the fact that her deal did at least have one positive outcome: providing a small boost to the economy –  though probably not in the way she intended.

In response to her Brexit deal being voted down by a massive margin, the pound briefly fell, and then rebounded sharply against the Euro and the Dollar, a clear sign that the uncertainty of the Brexit process was still preferable to her bad deal:

Mr S expects we won’t hear champagne corks popping in Number 10 at the news just yet…