Pound sterling suffers as traders pare bets on Fed rate cuts January 13, 2025 The sell-off comes after a bruising week for UK assets last week, with sterling falling over three per cent and gilt yields picking up to the highest levels in decades.
Bond tumult prompts comparisons with Britain’s 1970s debt crisis January 9, 2025 The turmoil engulfing the UK gilt market has shades of the country’s debt crisis in the 1970s which culminated in the then Labour government needing a bailout from the IMF, according to multiple financial heavyweights. Nigel Green, chief executive of of the the world’s largest independent advisory businesses, called the market bedlam, which has seen [...]
Pound sterling continues to sink as UK economy ‘clearly on very shaky ground’ January 9, 2025 Pound sterling has continued to sell off this morning, and UK government bond yields have ticked higher as UK risk assets remain under pressure. The pound fell below $1.23 against the dollar in early trade and is currently down 0.7 per cent against the dollar and 0.6 per cent against the euro. Meanwhile, the domestically [...]