Stranger times

Market crash

On the 14th February I posted an article entitled, ‘Strange times – have U.S. markets gone mad’? Strange times – have U.S. markets gone mad? Shortly after that post, this happened… By the third week in February 2020 U.S. markets were holding up at all time highs and on the 12th February the Dow climbed above 29500 for the first time, fast chasing 30000. Euphoric highs The U.S. markets were screaming up – flying high on rocket fuelled steroids! I just couldn’t believe what I was seeing, especially so with…

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Bank of England hold interest rate, no new stimulus

Bank of England

The Bank of England held rates at 0.1 per cent and offered no new stimulus measures in its asset purchase programme. Decline in consumer confidence Headline BoE announcement: 14% fall in UK GDP this year and unemployment at 8%. Biggest annual fall in GDP since 1706 The BoE said indicators of UK demand have generally stabilised at ‘very low levels’ with a reduction in the level of household consumption at around 30%. According to the MPC statement, ‘Consumer confidence has declined markedly, and housing market activity has practically ceased’. Sales are…

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