Theresa May Signals 'Hard Brexit' but There's Still Time for Compromise

U.K. Prime Minister Theresa May sounded rather hawkish in a speech Tuesday, signaling a "hard" Brexit, but there's still time for the pendulum to swing in the other direction, according to one analyst. May said the U.K. does not plan on staying in the EU's single market, and a new trade agreement will be negotiated instead.

"It sounds like, whatever happens, Parliament will vote on this new trade agreement. While it may feel a bit more hawkish, there is room to bring it back towards the center," said David Lebovitz, global market strategist at J.P. Morgan Asset Management.