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March 17 2017

Comment from InterTraders Steve Ruffley on Scottish Referendum

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“I think the only thing that is clear is that May has a plan and in this crazy world she is the only one delivering. She said she would trigger article 50 by the end of March and that is what she has done.

Carney’s Brexit plan was to cut rates. We ridiculed the government and praised the BOE for their foresight. 9 months on who is looking in a better place. The US put up rates and looks to do so 3 more times, and the BOE itself has seen dissent in members speaking out for a UK hike.

The Scottish referendum is the same as Brexit. You can’t keep voting to get the answer you want. Scotland is ignorant and scared of what it will lose by the UK leaving the EU. They can’t take the Euro, they can’t be a member of the EU without the UK so the vote to leave is pointless. They will gain nothing.

May saying there will be no referendum unit after Brexit is what she needs to do. Scotland had a chance to get what it wanted. It voted no. It will vote no again. May is trying to negotiate a deal for everyone. If this will be the case who knows. The fact that Scotland think they can rock the boat with a referendum just shows their desperation to cling to the idea of having a voice, means you have power. They do not. They gave that right away a few years ago.

Its priced into the market. No serious trader cares what Scotland thinks or says.”

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