bagga: Why is Ajay Bagga cautioning to stay away from the markets for now

bagga: Why is Ajay Bagga cautioning to stay away from the markets for now

“October is not looking good to me at all. Do not take positions, the longs especially can get cut very badly,” says market expert Ajay Bagga. In September, we have two big events were held, the Federal Open Market Committee meet and the RBI Monetary Policy Committee deliberations. In October, we have Diwali. So, what … Read more

First-time buyer met with gasps by Question Time audience

She continued: “They are saying ‘you need to immediately look at putting your application through because if you don’t the lenders may even pull these offers’.” At this, Lord Karan Bilimoria, who was a member of Thursday’s Question Time panel, shook his head with a look of solemn incredulity. The audience member added: “For me … Read more

Liz Truss is embarked on a course of sheer madness, taking the Bank of England with her

The Bank of England’s emergency purchase of gilts buys a reprieve of thirteen days at enormous institutional risk. The rescue was a last resort to avert a doom loop in the pension system and the £1 trillion mortgage market. It solves nothing in itself. The Bank has been put in the invidious position of having … Read more

UK Prime Minister Defends Tax Cuts as Market Turmoil Continues

LONDON—Prime Minister Liz Truss looked to reassure the British public and rattled investors that her plan to cut taxes wouldn’t lead to prolonged financial instability, arguing in a series of interviews on Thursday that the country had been buffeted by global shocks rather than her government’s reforms and that her policies would result in faster … Read more

The Iron Lady had strategy – Kwarteng, stupidity

Tim Congdon, the noted economist who worked with Thatcher and sat on the Treasury panel of “wise men” that advised the Conservative government on economic policy between 1993 and 1997, believes the not-so-mini-Budget was “the exact opposite” of the 1981 Budget “in both content and form”. He argues that borrowing in order to cut taxes, … Read more

UK Prime Minister Defends Tax Cuts as Market Turmoil Continues

LONDON—Prime Minister Liz Truss looked to reassure the British public and rattled investors that her plan to cut taxes wouldn’t lead to prolonged financial instability, arguing in a series of interviews on Thursday that the country had been buffeted by global shocks rather than her government’s reforms and that her policies would result in faster … Read more

Emergency action by Bank of England amid UK economic turmoil – Channel 4 News

Emergency action by Bank of England amid UK economic turmoilChannel 4 News Bank of England intervenes in bond market after historic sell-offCNBC Bank of England takes emergency action to calm marketsSky News The Bank of England’s surprise move was smart – but the UK government still faces big challengesMarketWatch Gilt Market Carnage Prompts Risky Bank … Read more

Pension funds crisis forces £65bn bailout by Bank

The Treasury insisted on Wednesday it would stick by its Friday package in full. Criticism on Tory benches is yet to turn into a fully blown Commons rebellion, with much depending on the coming days. Kemi Badenoch, the International Trade Secretary, will use a speech in Washington DC on Thursday to double down on the … Read more

Ministers told to make savings as Tory anger over markets chaos grows

Mr Philp’s letter will insist that departments find savings where possible and live within existing budgets. The aim is to reduce the level of government borrowing needed in a bid to calm the markets. Whitehall budgets were already under pressure because of high inflation, but the new instruction from the Treasury will make things worse. … Read more

Liz Truss must hold her nerve as the world tips into a calamitous recession

For the past 25 years, and especially since the financial crisis, the global economy has taken a disastrous wrong turn for which we are about to pay a hideous price. In one of the gravest intellectual errors since communism, many of the world’s cleverest people thought they had discovered the secret to perpetual prosperity. Forget … Read more