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...Cuckooland: Where the Rich Own the Truth by Tom Burgis William Collins £18.99, 320 pages Mary Fitzgerald is a program director at the Open Society Foundations Join our online book group on Facebook at...
...Balls said his funds had a larger than normal position in gilts and he was not worried about a potential borrowing splurge ahead of a general election....
...Forbes, who was beaten by former first minister Humza Yousaf in last year’s leadership election, said her appointment as deputy first minister was a “moment of extraordinary privilege”....
...Forbes will work with Swinney to support economic growth, invest in public services and eradicate child poverty, a statement said....
...Swinney earlier offered a significant government job to Forbes if he were elected first minister. It is highly unlikely that any other challenger will emerge ahead of Monday’s deadline....
...Forbes will take over the New Deal for Business, a consultation group launched by former first minister Humza Yousaf to reset strained government relations with business....
...But Forbes’ decision to stand aside means that the SNP will probably avoid a repeat of last year’s bruising leadership contest, which she narrowly lost to Yousaf....
...While a majority of the BoE’s monetary policy committee voted to keep rates on hold, two voted for a rate reduction. Economists polled by Reuters had forecast only one vote for a cut....
...That compares with a loss of 3.3 per cent for an index of US Treasury bonds....
...The Bank of Italy’s latest twice yearly financial stability report painted a mostly favourable financial picture, with the caveat that “a persistently high debt-to-GDP ratio remains a risk factor,” confirming...
...Mary Perkins jokes that if you were to cut Specsavers’ workers open, “they’ve got green blood”....
...of a move in June....
...“This would be a green light for a cut in June and would lead investors to price in more cuts.”...
...When Hargreaves Lansdown experienced the first maturity of a gilt that was widely owned on its platform last year, “we saw a significant percentage of clients reinvesting back into other gilts”, said Lee...
...Traders in swaps markets are betting on fewer than three quarter-point rate cuts by the ECB this year after strong US inflation data on Wednesday prompted a sharp repricing in interest rate expectations....
...More specifically, announcing the start of QT causes a modest increase in yields (of about 0.04 to 0.08 percentage points) of government bonds with maturities a year and longer....
...The UK economy grew for the second month in a row in February, driven by expansion in manufacturing and raising hopes the UK is emerging from a technical recession....
...Paul Dales, chief UK economist at the consultancy Capital Economics, said the easing in pay growth was “probably still a bit too slow for the Bank of England’s liking”, although there were “signs that a...
...Interest rate sensitive two-year German Bund yields — a benchmark for the eurozone — held steady at 2.98 per cent, up 0.02 percentage points on the day....
...“Previously when we have had a rally of $70 to $80, it is usually accompanied by a new catalyst or risk event,” said Suki Cooper, analyst at Standard Chartered....
...Traders in swaps markets continue to bet on a likely 0.25 percentage-point Bank of England interest rate cut by August and two or three cuts by the end of the year....
...“But we’re going to need to see data like [inflation] next week that will corroborate the pushback to [a June cut].”...
...of a record close....
...Sterling extended early losses against the dollar to trade down 0.4 per cent on the day at $1.273 after the Bank of England held rates at a 16-year high of 5.25 per cent for the fifth consecutive meeting...
...Markets are pricing in two quarter-point rate cuts by the Fed in 2024 from the current 23-year high and only a 50 per cent likelihood of a third, in a dramatic reversal from the start of the year when between...
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