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, the algos have turned their attention on any "de-escalation" out of Scotland.
Stocks love this great news...
GBP is rallying...
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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...
