UK economy grows, but…
At last the economy grew and better than hoped – by 0.4% in the quarter to 31 July and apparently fuelled by AI efficiencies and World Cup spending. However, the Government really has problems. Ostensibly it has sold the most expensive 30-year debt since 1998 - 5.82%. The very first 30-year started on 28...
New bond lows
So Lake Ontario is now to be called Lake America and so a wag has said Canada Geese are also now called Donald Ducks… oh well, let’s await developments there… the loyalists fought-back against the American invaders in the 1812 war and won and the White House was burned-down in 1814. Let’s trust they...
The good, the bad and SpaceX
Some news’ improvement amongst the negative developments in the Middle East (again) - US inflation went down to 3.5%, somewhat unexpectedly. That should give some respite in interest rates and the strength of the Dollar. Meantime, here at home our economy grew by 0.1%, led by services.
It’s not much and it is primarily a...
Global uncertainty but spring is here
Welcome to spring and longer days (with all the clocks springing forward too). It’s always lovely to see new life bursting forth, oblivious to everything else happening in the world and ever was it thus. In this we have something to appreciate, regardless of all the geopolitical traumas or indeed personal afflictions which may...
Hunting for safe havens
Markets continue to wobble
Oh dear, more uncertainties afflicting global markets as a consequence of the attacks on Iran and then the ramifications. They are dreadful and for the innocent people involved but as for the financial implications, on capital markets, maybe retrenchment reflects the ‘need’ for profit-taking it seems. This is even discounting unintended consequences, such as...
Uncertainty as US attacks Iran
So, early Saturday we awoke to news that bombings had taken place in Iran and the inevitable retaliation as a consequence. The weekend oil price jumped significantly and the world waits to digest the consequences.
It is too early to predict outcomes but the hope will be for a short, sharp shock and a return...
Dollar doldrums and silver surfing
Quietly and gently and perhaps almost unnoticed, the US Dollar had been seeing a drift downhill before strengthening again over last week. Against Sterling it has now been the lowest since September 2021, having fallen by over 26% since the Pound’s trough in July 2022.
We are not so unhappy as we have currency in...
Some growth but inflation bites
It’s been good to see some economic growth with an unexpected 0.3% figure in November. Services and production rose and construction fell. The results at least counter some of the previous slippage but won’t be giving a great annualised figure regardless – but all helping.
Likewise, whilst we read a colossal 700,000 graduates are unemployed,...