Sterling...

[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.

[BrilloPad]

Apparently many shoppers are flocking to London. Alledgedly.

[Cyberman]

All you need is just another Thatcher.

We need Prudence !!

[Francko]

and it is getting worse.

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

Another Iceland?

All you need is just another Thatcher.

[Cyberman]

Except that this time he's telling them what to do.

He's helping them to find funding because he knows there is a good chance that he may need it. The deficit for this year will be 100 Billion and I heard him on the news yesterday say that 'all will be ok because of our low borrowing'. He is truly deluded.

[expat]

Brown is already talking to the IMF apparently. 1976 revisited.

Except that this time he's telling them what to do.

[Cyberman]

Brown is already talking to the IMF apparently. 1976 revisited.

Brown borrows to give tax cuts and will not cut public spending. The Tories do not borrow for tax cuts and will cut public spending. That says it all, and as long as they are in power our deficit will continue to increase which will mean big tax rises in 2010. Still, the British public love high taxes don't they.

[BlasterBates]

and it is getting worse.

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

Another Iceland?

[d000hg]

My newest piece of work pays in $

[oracleslave]

Sterling

I still don't have any

milan

[Bagpuss]

what would you expect when interest rates fall by 1.5 points ?

[milanbenes]

http://www.ft.com/cms/s/0/e8f1b866-a...nclick_check=1


The pound fell 0.2 per cent to $1.5580 against the dollar and dropped 0.2 per cent to £0.8178 against the euro, just shy of the record low of £0.8208 it hit on Monday.



ooops

Milan.