Scottish “No” Vote Pushes S&P To New Record High; Cable, Yen Roundtrip On Quad-Witching Alibaba Day

So much for any Scottish referendum vote “surprise”: the people came, they voted, and they decided to stay in the 307-year-old union by a far wider margin, some 55% to 45%, than most polls had forecast, even as 3.6 million votes, a record 85% turnout, expressed their opinion. The gloating began shortly thereafter, first and foremost by David Cameron who said “There can be no disputes, no re-runs, we have heard the settled will of the Scottish people.” Queen Elizabeth II, who is at her Scottish castle in Balmoral, is expected to make a rare comment on Friday.
The loser was graceful: speaking in front of an image of a giant white on blue Scottish flag, nationalist leader Alex Salmond conceded defeat in Edinburgh. Salmond laced his admission of defeat with a warning to British politicians in London that they must respect their last minute promise of more powers for Scotland. “Scotland has by a majority decided not, at this stage, to become an independent country. I accept that verdict of the people and I call on all of Scotland to follow suit in accepting the democratic verdict of the people of Scotland,” Salmond said.
Despite its loss, the Yes movement will be seen as a victory for the Scots. From Reuters:
Opinion polls showing a surge in Scottish separatist support in the two weeks leading up to the Sept. 18 vote prompted a rushed British pledge to grant more powers to Scotland, a step that has angered some English lawmakers in Westminster. In an effort to deflate that anger, Cameron vowed to forge a new constitutional settlement that would grant Scotland the promised powers but also give greater control to England, Wales and Northern Ireland.
“Just as Scotland will vote separately in the Scottish parliament on their issues of tax, spending and welfare, so too England, as well as Wales and Northern Ireland should be able to vote on these issues,” Cameron said.
“All this must take place, in tandem with and at the same pace as the settlement for Scotland.”
Cast as a constitutional revolution, commentators said Cameron’s pledge of more powers to the constituent parts of the United Kingdom was aimed at sedating ‘the slumbering beast of English nationalism’.

This post was published at Zero Hedge on 09/19/2014.