Junking the mini-budget won’t stop market stress
With further interest rate rises on the way, and the UK probably already in recession, financial stress is likely to mount.
With further interest rate rises on the way, and the UK probably already in recession, financial stress is likely to mount.
The London Clearing House is the latest name to emerge in the “Hunt the Culprit” game.
The decision some UK pension funds made to clear derivatives used in so-called liability-driven investment strategies exacerbated the industry-wide cash-crunch that prompted the Bank of England to intervene in Gilt markets in late September, pension experts say.
If the Government is serious about growth and reaffirming the UK’s status as the world’s financial services centre, reform is vital.
There are some reasonable arguments for such a move, but timing it for this winter would be tone deaf.
The Chancellor dismissed claims “tax cuts always pay for themselves” during landmark speech setting out his economic vision.
The City – despite Brexit – is doing exceptionally well. If only Westminster could get its act together.
Despite the empty, right on gestures, City law firms haven’t really changed.
In this week’s letter, Walter is impressed by Paris despite recent claims that the city’s Socialist mayor is running it into the ground.
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