The Federal Reserve (FED) held interest rates yesterday at 0.5% as concerns over a Trump victory caused the S&P to slump 0.6% following 6 days of losses.
The Bank of England’s post-BREXIT cut in its base rate has prompted banks to cut the rates they pay savers, says the Telegraph. It says Lloyds is to cut its main saver rate from 0.25% to 0.05%, which will affect hundreds of thousands of account holders. Banks are also cutting the rates they pay regular savers.
Last week’s debt management office’s gilt auction saw investors pile in for UK government debt at a record low (Investment Advice).
When asked why he robbed banks, the US criminal Willie Sutton is said to have replied “because that’s where the money is.” A similar type of response is often applied to the issue of raising tax revenue: tax the rich because, by definition, that’s where the money is (Investment Manager Bristol).
The composer Handel, best known for the Hallelujah chorus and the Water Music, made a fortune from his investments despite losing a packet in the South Sea Bubble, says the Telegraph (Investment Management).
It would seem that women lack the confidence to discuss stocks and shares with Bristol investment advisers and others, with new research revealing that one in three feel unable to talk about the stock market and investments (investments).