Hope for stability as Rishi Sunak named prime minister
Sterling and bond markets ticked up on news of his victory in the Tory leadership race
Government
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UK hit with another negative outlook rating
Moody’s joins Fitch and S&P in downgrading the UK’s outlook from ‘stable’ to ‘negative’
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Sterling breathes ‘sigh of relief’ as Sunak and Mordaunt race for No 10
After Boris Johnson announced he would not stand
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Cautious optimism follows Liz Truss resignation
Markets have hinted at a brighter future as the PM steps down but the race to replace her is just getting started
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Credibility issues put bond investors off UK
JP Morgan AM and Jupiter managers among those reluctant to tap into climbing gilt yields
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Somerset CEO leaves to take up government post
Dominic Johnson will once again work alongside the firm’s co-founder Jacob Rees-Mogg
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BNY Mellon names government adviser as chief economist
Shamik Dhar joins from the Foreign and Commonwealth Office
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US government shutdown sees pound climb
The prospect of a US government shutdown has seen the pound climb to its highest level against the dollar since Brexit, while cryptocurrency Bitcoin continues to decline.
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Budget 2017: What asset managers should know
A long-term strategy for the asset management industry was among the raft of measures announced in Wednesday’s budget, alongside news of slowing growth, slashed Stamp Duty and an extra £3bn in the Brexit pot.
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Fewer investors now see bonds as overvalued – CFA
UK investor sentiment toward bonds is improving a new survey by the CFA society of the UK has revealed.
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Tax concerns mount while richer clients claim manager disatisfaction
Almost half of high net-worths have cited climbing tax rates as their number one concern, while those unhappy with their current wealth manager tend to have more investable capital.
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Investors should hold fire on RBS
The government selling 5.4% of its RBS stake provides an opportunity say industry experts, but it will be years before investors should buy in.