Sterling fell to its lowest in more than a year, UK government bonds sold off and the FTSE 100 dropped as investors woke up to the first hung Parliament since the 1970s.
The pound extended Thursday's decline and was down another cent at $1.4729 by 9:30am in London trading. UK government bond prices, which had enjoyed a rally in recent days thanks to the Greece crisis, also sold off as investors fretted over how long it will take the polticial parties to form a Government.
"All in all not good for the pound, gilts or equities," said Marc Ostwald, a strategist at Monument Securities. "The constitutional position is likely to be a lot messier than the markets have been discounting." more...
Disclaimer - The posting of stories, commentaries, reports, documents and links (embedded or otherwise) on this site does not in any way, shape or form, implied or otherwise, necessarily express or suggest endorsement or support of any of such posted material or parts therein.
The myriad of facts, conjecture, perspectives, viewpoints, opinions, analyses, and information in the articles, stories and commentaries posted on this site range from cutting edge hard news and comment to extreme and unusual perspectives. We choose not to sweep uncomfortable material under the rug - where it can grow and fester. We choose not to censor skewed logic and uncomfortable rhetoric. These things reflect the world as it now is - for better and worse. We present multiple facts, perspectives, viewpoints, opinions, analyses, and information.
Journalism is (or used to be) the profession of gathering and presenting a broad panorama of news about the events of our times and presenting it to readers for their own consideration. We believe in the intelligence, judgment and wisdom of our readers to discern for themselves among the data which appears on this site that which is valid and worthy...or otherwise.
Sterling fell to its lowest in more than a year, UK government bonds sold off and the FTSE 100 dropped as investors woke up to the first hung Parliament since the 1970s. 
0 comments:
Post a Comment