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Thursday, September 11, 2014

RBS To Leave Independent Scotland

In the event that Scotland votes "Yes", it has emerged that RBS (without any sense of irony) and Lloyds will leave Scotland and decamp to England setting up their HQ's in London.

With a week to go until the vote, markets are reacting to the daily poll results (they rise when "No" leads, and fall when "Yes" is in the ascendancy). As I have noted before traders are doing very nicely out of the politically induced volatility, let us trust that none of them have foresight of the polls before they are published!

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