Sterling...

[BrilloPad]

Apparently many shoppers are flocking to London. Alledgedly.

[OwlHoot]

and it is getting worse.

Apparently according to the FT international investors are dumping UK government bonds. ..

Funnily enough I predicted here a couple of weeks ago that would happen if/when interest rates were reduced.

A day or two later I wondered if the two were correlated much after all, and thought perhaps I'd been wrong. After all the Government can easily offer 5% gilts, or whatever they like, regardless of interest rates.

But gilts are GB's (Gordon Brown or Great Britain - take your pick) last line of defence now, and if overseas investors are selling them and declining to buy them we're really screwed.