It’s taken five days but we finally have a government and although the Labour party tried an 11th hour comeback, like a hand poking up through the soil from the grave, the markets favourite solution for the government, a Liberal/Conservative coalition, is now a done deal. The make up of the cabinet is still to be decided, but as Gordon Brown resigned, for the 2nd time in two days, the Pound put in a strong rally…read more
It was another tumultuous day yesterday in the markets, and at Westminster, as the weekend’s events continue to impact on the markets. The EU bailout package has given the optimism a massive boost…read more
As the election was held last Thursday the MPC meeting has been put back to today, although as there is to be no change in rates or policy it will add little to the picture. There is little else out today to exercise the markets, so they will be left dealing with the fallout of the election and the Greek crisis…
n the UK the fallout from the election will dominate thinking and is likely to provide a drag on the Pound with no clear agreement in sight. Across the Pond it’s the usual non-farm payrolls which will be focusing traders minds…
The election will be dominating today’s UK news, and the fallout tomorrow is likely to overshadow the usual headline making US non-farm payrolls, at least in the UK. We are in for an interesting few days, not just for the markets but also for the future strength of the EU, and the next five years for the UK.
The currency markets are still struggling to find a reason to back the Euro following the weekend’s latest EU bailout measures. Continued contagion fears are denting market confidence …
Sterling has stayed buoyant against the Euro, and is likely to continue to do so especially if the Conservatives keep stretching their lead in the polls in the run up to Thursday, and the prospects of the Greek bailout continue to be uncertain.
May day is normally a day of left wing protest around Europe and this year the Greek protesters will have something to focus on, the scale of the protest may weigh on the Euro over the weekend, although a bail out next week should help the single currency.
Whilst the UK media spent yesterday firmly encamped on a small patch of Lancastrian housing estate, market attention once again switched shores in light of some major revelations in the Eurozone, and the Fed’s meeting last night…
Greece’s credit rating hasn’t proved to be as resilient as the UK’s, and it’s credit rating has been downgraded several times so that it now has to pay huge sums to borrow money- we are talking about the sorts of interest rates that you see quick loan companies advertising in the back of newspapers. Greece’s issues are compounded by the inflexibility of its labour force to adjust to austerity measures leading to strikes and general unrest.