BOND INVESTORS TURN POSITIVE DUE TO SPECULATION THAT THE US FED MAY BEGIN TO EASE RATE HIKES
This week we have seen markets trying to get ahead of the US Federal Reserve once again. For most of this year government bonds have sold off as investors anticipated aggressive rate hikes from the US Fed and other central banks.
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AUTUMN STATEMENT LOOKS AUSTERE BUT BIG DECISIONS HAVE BEEN PUSHED DOWN THE ROAD
This week we saw the chancellor playing for time. Tax rises and spending cuts were well briefed to the media and markets have so far taken Jeremy Hunt’s announcements in their stride.
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SIGNS THAT INFLATION IS PEAKING SPARK A BROAD RALLY IN FINANCIAL MARKETS
The latest CPI report from the US came in below analyst forecasts, a welcome relief from months of prices rising faster than expected. US stocks had one of their best days on record making nearly 6%.
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CENTRAL BANK HIKES ARE IN LINE WITH EXPECTATIONS AS HOPES RISE THAT INFLATION MAY SOON PEAK
This week the Bank of England and the US Federal Reserve joined the European Central Bank to complete a triumvirate of 0.75% interest rate hikes.
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TRUSS FORCED OUT BUT HER SUCCESSOR WILL FACE THE SAME ECONOMIC AND POLITICAL PROBLEMS
This week saw the conclusion to one of the most remarkable chapters in Britain’s political history. The end of Liz Truss’s premiership sadly does not mean an end to the instability she wrought on both the currency and bond markets.
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KWARTENG SACKED AS GOVERNMENT FACES HUMILIATING REVERSAL OF ITS PLANS TO CUT TAXES
This week we saw the lady is for turning after all. Growing opposition on the Conservative backbenches, international criticism and extremely hostile financial markets forced Liz Truss to sack Kwasi Kwarteng as chancellor and rethink plans to cut taxes.
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TAX U-TURN EASES PRESSURE ON STERLING AS OPEC TRIES TO KEEP OIL PRICES HIGH
This week we saw the prime minister and chancellor stick to their guns for all of 10 days before giving in and scrapping their plan to scrap the 45p rate of income tax.
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Autumn Outlook
The end of the quarter saw chancellor Kwasi Kwarteng’s mini-Budget cause sterling to fluctuate wildly and UK government bonds to plummet.
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GILTS TUMBLE AS KWARTENG’S MINI-BUDGET USHERS IN VAST ADDITIONAL BORROWING
This week we saw Liz Truss go back to the future as she dusted off Margaret Thatcher’s policy solutions to try and fix the UK economy. Truss and chancellor Kwasi Kwarteng have opted for huge tax cuts as their method of jolting the UK into growth and these policies come straight from Thatcher’s playbook.
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TENS OF THOUSANDS TURN OUT TO PAY LAST RESPECTS TO QUEEN ELIZABETH II
This week the nation continues to mourn the passing of Queen Elizabeth II. In a fitting tribute, the British public has chosen to honour one treasured national institution with another, a queue.
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