City braces for fresh inflation and borrowing figures October 16, 2022 The City is bracing for another busy week of new data illustrating the health of the UK economy. Last week, the FTSE 100 index fell 1.89 per cent to finish at 6,858.79 points after it was rocked by prime minister Liz Truss ditching chancellor Kwasi Kwarteng. The domestically-focused mid-cap FTSE 250 index, which is more [...]
Analysis: Truss can’t buck the markets October 14, 2022 Around eight minutes is how long prime minister Liz Truss today allocated to explain why she sacked her chancellor for implementing her tax cuts and signed off her second mini budget U-turn. She clarified neither. She answered four questions and committed to her “mission” to boost growth in the UK at a Downing Street press [...]
UK borrowing costs tank as mini budget U-turn rumours gather pace October 14, 2022 UK borrowing costs fell sharply today driven by chancellor Kwasi Kwarteng and prime minister Liz Truss reportedly set to U-turn on more parts of their mini budget. The chancellor has today cut short his trip to the International Monetary Fund’s Washington meetings to hold emergency talks with Truss in London. Rumours of a second U-turn [...]
UK borrowing costs drop as Kwarteng hints at mini budget U-turn October 13, 2022 UK borrowing costs collapsed today driven by chancellor Kwasi Kwarteng sending the strongest signal yet he will roll back elements of last month’s mini budget. Rates on UK gilts dropped across the curve after they yesterday climbed to their highest level since the day the Bank was forced to step in. Yields on the 30-year [...]
City braced for end of £65bn Bank of England bond market package October 13, 2022 The City is bracing for the Bank of England to pull its £65bn emergency support package for the bond market tomorrow, but experts said volatility could be tamed by existing backstops supporting the pensions industry. Britain’s debt market has been rocked by concerns over the government’s financial credibility after it launched £43bn of tax cuts [...]
London’s FTSE 100 bags gains as rate sensitive stocks kick higher October 13, 2022 London’s FTSE 100 notched gains yesterday driven by stocks exposed to interest rates receiving a boost from reports the government will roll back some of the mini-budget. The capital’s premier index jumped 0.35 per cent to 6,850.27 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK [...]
IEA warns OPEC+ cuts risk pushing global markets into recession October 13, 2022 OPEC+'s decision to cut oil production risks driving up prices and pushing global markets into recession, warned the IEA.
The Inflation Game: War, Peace and the Perils of Central Banking October 13, 2022 | City Talk The descent is always more sudden than the increase; a balloon that has been punctured does not deflate in an orderly way. — John Kenneth Galbraith I travelled with my family to London and Normandy in July 2022. Our primary purpose was to meet up in France with my father-in-law, who had dreamed of visiting the [...]
London’s FTSE 100 weighed down UK banks tumbling October 12, 2022 London’s FTSE 100 was marred by the UK’s largest listed lenders falling sharply today on fears over borrowers struggling to pay home loans. The capital’s premier index fell 0.86 per cent to 6,826.15 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, dropped 1.73 per [...]
BCB Group’s new DeFi Yield product offers investors attractive returns within a safe structure October 12, 2022 London, 11th October 2022 – BCB Group – a leading provider of business accounts and trading services for the digital asset economy, announces the launch of its latest new investment strategy – DeFi Yield – and appoints Re7 Capital as the fund manager for this strategy. Earlier this year, BCB Group successfully launched BCB Yield, [...]