Labour vote is in freefall
A handful districts have reported so far and Labour's vote has absolutely cratered. The big loss so far is Blyth Valley which has been held by Labour since 1950. They won 56% of the vote in 2017 and just 40.9% today compared to 42.7% for Conservatives.
The swings have been anywhere from 7-18 percentage points.
It's going to be a very bad night for Labour. I've seen enough to be very comfortable predicting a huge Conservative majority.
Right now the market is just pricing in a Brexit deal and it's only fast money participating. Tomorrow we're going to start pricing in 4 years of a strong, stable, business-friendly government and structural shorts will start to cover. I don't think this is a one-day trade, not by a long shot.
