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Is Carney the Sole Adult in UK's Political Morass?
Sterling is continuing to move lower. It has tested the $1.3050 area in the North American morning, having been under pressure through the Asian session and the European morning. That the UK economy is slowing down, materially, as BOE Governor Carney said, is not really new news. Nor is the fact that the BOE reversed its previous decision to force banks to boost their capital buffers. This was anticipated last week. The news today that has unhinged the market was that now two real estate funds have moved to suspect trading (and withdrawals). As the contagion grows, there may be some important implications for how ... (full story)
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