I don’t want to be on the wrong side of the IMF – and this lady!
It is good to learn about capital markets from a friendly expert and that’s how I regard Toby Nangle. Here he is explaining bonds and how the UK is being treated.
The question of how solvent the UK is , is one that interests me , so I have been following the markets on a daily basis since this time three years ago when Liz Truss was in charge.
Here’s how it went
Those yields make a lot of difference to things like pension valuations and (by proxy with Swaps) annuities. I want to know an answer to this question not just for pensions but for the country that sponsors my future (via the state pension).
As we can see, we hit a new high in the middle of the week and now we’re back in better regard than we were (as a country) on Monday. You get that put another way by Toby
“Pixel Time” is the time of going to press, I didn’t know that but it applies to this blog. it’s measured in minutes from starting to write!
It is even quicker with “snip time” which allows me to learn and blog as I go along. I don’t read the blue press – top shelf stuff if I bought papers – along with other material material! Here’s why I stick with Toby..
I am now at such a state of excitement that I struggle to scroll on – what is our fate – the market will tell us and the FT will tell interpret
Unfortunately, there follow a couple of charts which require a knowledge and perception which I don’t have, I just know that being in the middle is ok
If Canada is worse than us, I’m ok, even if we’re not keeping up with the Italian dodge pots.
This one tells me that we’re less in debt (mortgaged) than any of our compatriots other than the Germans (who are far too sensible to worry about).
This “debt metric” is what I’d call the mortgage payments and even if we roll them up, (like most people with life time mortgages, I’m ok so long as the rates stay down), Britain will be ok so long as it keeps Gilt yields down – or vice versa as Tony points out.
But , if I’m reading Bloomberg and FT right and if Toby hasn’t confused my pathetic brain, we are right in the middle and really shouldn’t be worried about getting bailed out by the IMF like we were when I was a teenager.
I think I take comfort in these words that Toby tell me are from Neil Shearing, group chief economist at Capital Economics.
That’s how I get my economics dished up. Thanks Toby – keep it coming.