Barclays Share Discussion Threads

[alphorn] 01/11/2024 12:46

The DM must be behind the times if they see a sterling sell off. Dangerous reporting.

[johnwise] 01/11/2024 12:40

Markets turn on Rachel Reeves: Sterling and debt sell off as Chancellor desperately tries to calm jittery traders after Labour's biggest tax rise ever hammers businesses


Rachel Reeves and her senior Treasury ministers have been forced to go on the offensive for a second day following the Budget amid market jitters and anger among voters.

Wednesday's decision to up taxes to raise £40billion towards increased state spending of almost £70 billion per year, with the rest covered by borrowing, spooked investors.

The scale of extra borrowing – around £32 billion a year on average – saw yields on government bonds increase as the market responded to the Chancellor's plans.
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[portside1] 01/11/2024 12:31

I just enjoy having some fun I need nothing want nothing and have everything

[jordaggy] 01/11/2024 12:08

Porty, you have no humanity left, which is unusual for an elderly person. Have you ever questioned yourself as to whether you may be a psychopath?

[smurfy2001] 01/11/2024 11:27

Barclays completes Tesco Bank buy as retailer hands £700m to shareholders

C.S. Venkatakrishnan, Group Chief Executive of Barclays, commented:

"This acquisition is an important step in increasing our investment in the UK. We look forward to collaborating with Tesco Group on delivering Tesco-branded financial services. We are delighted to welcome all transferring Tesco Bank employees and customers to Barclays."

[alphorn] 01/11/2024 10:45

jw - it is called the 'hockey stick' approach. Practised in most presentations.

[johnwise] 01/11/2024 10:30

CITYam.com

Reeves playing ‘same silly games’ as her predecessors, IFS says


The Chancellor Rachel Reeves has been accused of playing the “same silly games” as her predecessors after forecasting that public spending will tail off towards the end of this parliament following a short-term spike.

Paul Johnson, director of the Institute for Fiscal Studies (IFS) said the Chancellor had “front loaded” calculations around additional spending in her Budget and it was likely that they “will in fact increase more quickly than supposedly planned after next year”.

“I’m afraid this looks like the same silly games playing as we got used to with the last lot,” he said at the IFS’s breakdown of the Budget today. “Pencil in implausibly low spending increases for the future in order to make the fiscal arithmetic balance.”

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[johnwise] 01/11/2024 10:13

Fri, 1 November 2024

UK bond market in turmoil as budget changes calculus of interest rates


UK borrowing costs are on the rise yet again as markets react to chancellor Rachel Reeves's proposal to increase government borrowing by £32bn a year.

This morning, yields on two-year and 10-year gilts rose by approximately three basis points, marking the tenth consecutive day of increases for the two-year bond – a streak not seen since 2006.

In early trading, UK bond yields reached their highest levels of the year, with the benchmark 10-year gilt yield hitting 4.526% in global trading. This level matched Thursday’s peak following Reeves’s budget statement, which has led investors to anticipate a slower pace of interest rate cuts from the Bank of England. Since then, yields have slightly retreated to 4.456%.

The bond market has been under scrutiny since Reeves's budget announcement, which included significant borrowing alongside tax increases of about £40bn. However, while there has been a noticeable reaction in the market for UK government bonds, also known as gilts, it has not so far been comparable to the turmoil following the mini-budget of Liz Truss and Kwasi Kwarteng in 2022.


This Friday, Moody’s released its budget analysis, where it warned about the potential risks associated with Reeves's fiscal plans, describing the increased borrowing as an “additional challenge” to managing the UK's public finances.

The rating agency said that the higher borrowing could elevate the cost of issuing debt, especially given that Reeves has revised the UK’s fiscal rules, leaving limited room for error in the face of unexpected economic shocks.
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[johnwise] 01/11/2024 09:16

The Washington Examiner

UK goes for literal broke with left-wing budget

The United Kingdom announced vast increases in taxes and borrowing in a major budget announcement Wednesday. The budget shows Prime Minister Keir Starmer’s abandonment of the political center ground in favor of an overtly left-wing economic policy.

[johnwise] 01/11/2024 08:25

portside1

Good luck with that

its called a debt trap... we'll be borrowing or printing money just pay the interest.

[portside1] 01/11/2024 08:06

Just added 8649

[johnwise] 01/11/2024 08:05

VIDEO

Beth Rigby BLASTED Rachel Reeves Over Massive Tax Hikes!

[johnwise] 01/11/2024 07:37

Oil Jumps as Iran Plans Retaliation

Oil surged for a second day as a report that Iran may be planning a new attack on Israel put traders back on alert for supply disruptions from the Middle East.

West Texas Intermediate spiked above $70 a barrel in late trading after Axios reported, citing two unidentified Israeli sources, that Iran is preparing a major retaliatory strike on Israel through the militias it backs in Iraq. Global benchmark Brent jumped above $74 a barrel. WTI had earlier settled 1% higher at around $69.

[johnwise] 01/11/2024 06:35

Jeremy Clarkson ripped apart Rachel Reeves over the October budget

[johnwise] 01/11/2024 06:20

Now we can see what training Starmer got in communist Czechoslovakia, during the Cold War. He is as extreme left-wing as his comrade Corbyn.He was just more clever at hiding it. Communists don't like property ownership.Collectivism is a central plank of communism and has been since Lenin. Those voting for Labour must have known that.

[johnwise] 31/10/2024 22:55

CITYam.com


Gilts, sterling and FTSE 250 slump as markets digest Budget borrowing plans


UK government borrowing costs have climbed to their highest level this year as investors digested the impact of the new government’s first Budget.

Chancellor Rachel Reeves announced that borrowing would be around £30bn a year higher to help fund an investment push, which the Office for Budget Responsibility (OBR) described as “one of the largest fiscal loosenings of any fiscal event”.

The Debt Management Office said that gilt issuance was likely to reach £300bn in 2025, up from the previous estimate of £278bn and the second largest figure on record.

The increase in investment is likely to push up inflation and slow the pace of interest rate cuts, the OBR said on Wednesday.

Although traders initially seemed to take the Budget in their stride, yields on government debt have increased significantly over the past 24 hours or so.

The yield on the benchmark 10-year gilt hit 4.55 per cent this afternoon, its highest level since October last year. The yield on the rate-sensitive two-year gilt hit its highest level since May as investors re-priced the short term path for UK interest rates.

While other government bonds were also selling off on Thursday, the sell-off in UK government debt was more aggressive than elsewhere.

Investors also sold the pound, which fell to its lowest level against the dollar since August.

[stonedyou] 31/10/2024 21:36

Ukraine crisis 31 Oct, 14:56

French mercenary involved in transporting internal organs of Ukrainian soldiers — official

Maxime Roger Henri Barrat is also under investigation by the civilian-military administration’;s department of the interior in connection with the crime against a female civilian from the village of Glubokoye in the Kharkov Region

MOSCOW, October 31. /TASS/. French mercenary Maxime Roger Henri Barrat has been identified as the individual responsible for transporting the internal organs of Ukrainian soldiers to Europe, Yevgeny Lisnyak, deputy head of the Kharkov Region’s civilian-military administration, stated at a news briefing.

Earlier, Lisnyak indicated that Barrat is a subject of a criminal investigation concerning the rape of a female civilian in the Kharkov Region.

"Former French counterintelligence officer Nicolas Cinquini, who is actively collecting and disseminating information on French citizens fighting alongside Ukraine, has presented his analysis," the official noted. "In his publication, Cinquini highlights the involvement of Maxime Roger Henri Barrat, who is under investigation by the civilian-military administration’;s department of the interior in connection with the crime against a female civilian from the village of Glubokoye in the Kharkov Region. Barrat is also implicated in the transportation of internal organs from his slain comrades," Lisnyak stated.

He added that Cinquini has published portions of an employment contract between the Polish Sabinex company and a courier tasked with delivering biological materials from the front lines to Poland. Additionally, Cinquini has provided the civilian-military administration with a video recording of a conversation between his informant and a recruiter for such couriers, showcasing a job interview for the position of biomaterials runner from the combat zone to Warsaw.

"Importantly, the recruitment took place in a hospital in the Sumy Region, from where Ukraine launched its offensive on the Kursk Region on August 6, 2024," the official specified.

[johnwise] 31/10/2024 20:54

VIDEO

For The Little Girls of Southport

June Slater UK Politics Uncovered

Well said June. Pure terrorism attacking little children.



"Blatant Cover-Up To Deceive" Over Southport | Immigration Fury

TalkTV

[portside1] 31/10/2024 16:28

Israel should go all out and wipe out the leaders blow the scum to their virgins