Labour nervousness – not much Lib Dem confidence
There’s currently almost no support for Labour at the heavy odds-on prices on the Betfair exchange and prices are easing. At the same time there’s been a slight hardening in the Lib Dem price. The LDs are now at about 100/30 down from between 9/2 and 4/1.
Labour has moved out from 1/5 to about 1/4. What’s very telling is that currently there’s nobody offering to bet on Labour at anything less than 2/5.
Our reading is that after Saturday’s campaigning there’s a mood of nervousness in the Labour camp but that is not matched by a big change in confidence levels amongst LD backers.
This has all resulted in very little betting and not much liquidity in the market. Over the past couple of days Labour had been pushed to 1/6 when backers were obviously feeling more bullish.