As AAPL surges back today, it appears the market is more sensitive than many thought to what is happening in Scotland - as we overheard yesterday how meaningless Scottish GDP is compared to America's. However, a flashing red headline on Bloomberg from a Survation poll in Scotland of 1000 people showed 53% No and 47% Yes - the widest margin in over a week... and stocks jumped. It seems that since nobody cares about any newsflow out of Ukriane any more since it is all fabricated, thealgos have turned their attention on any "de-escalation" out of Scotland.
Stocks love this great news...
GBP is rallying...
Want someone to blame for the volatility... blame Scottish women!!
- 48.5% women to vote no vs. 38.6% to vote yes
- 46.8% men to vote no vs. 46.4% to vote yes
But don't tell them we said so...
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We suspect the exuberance will not hold...
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