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The cost of borrowing for the Government has reached its lowest point since May as traders ramp up bets on interest rate cuts.

The yield on 10-year UK gilts has dropped more than 11 points to 4.03pc after unexpectedly weak retail sales in October indicated Britain’s economy is struggling.

The yield on bonds is the return the Government promises to pay buyers of its debts.

After the poor retail sales data, money markets were today pricing in 84 basis points of cuts by the Bank of England next year, compared to 78 on Thursday.

Traders expect the first quarter-point rate cut from their 15-year highs of 5.25pc to have happened by June.

Meanwhile, money markets are for the first time predicting that the European Central Bank will cut interest rates by a whole percentage point next year from their record high of 4pc down to 3pc.

It comes as the eurozone inflation rate was confirmed at 2.9pc for October, down from 4.3pc the previous month.

Yup I’ve been snapping up short dated gilts paying 6.29%.

Can’t lose unless the oil price explodes. Interest rate cuts will start next year.

Don’t you bother to look before you open another thread on the same subject Darth/Mach ?

Up by more than 25 points this morning I would think…..

True hardup. But should be a good day. Who’s going to tell Falky ?

That must hurt you to write that mick-b

Up 3 1/2% last night in the USA.

Begs the question why you’re on here Chuckleberry ?

Great post Houndgog 👍

Dream on Anthony,

We’re not going back in the crumbling EU. Get over it and move on. Take Mad Mick and Nom with you please……

Indeed Bloo 😂

Nomlungu,

Labour bought shares in Lloyds to save them after the financial crash which happened on its watch.

As for the bank levy, it was introduced to provide an insurance fund so taxpayers weren’t on the hook for bank bailouts again in the future which last happened on Labours watch. Seems eminently sensible to me. A bit like the levy pension funds have to make to cover a default on pension liabilities if a company goes bust and their pension funds can’t meet its liabilities to its pensioners.

I’m not scare mongering……

https://uk.news.yahoo.com/influential-labour-mps-call-windfall-155636445.html

This is what Lloyds can look forward to.

As for you EU rant. We’re not going back into the EU. Starmer has said so. You and mick-b need to get over it and move on.

Mad Mick,

Whether Brown put pressure on Lloyds to save HBOS is a matter of opinion. What other lies am I supposed to have peddled ? 😂

Gore St had a similar rise today

Gresham House energy storage had a similar rise today.

Nomlungu, wasn’t it Labour that forced Lloyds to disastrously buy the Halifax which it took years to recover from in 2009 ?

Then there was the PPI fiasco which cost Lloyds £20bn. Hardly the fault of the Tories.

I’ll ask again, how do you think taxes on bank profits will help the share price if Labour get into power ?

How are taxes on the banks going to help Lloyds nomlungu if Labour take power exactly ?

How is Lloyds share price going to flourish under Labour mick-b exactly with touted taxes on the banks ?

What a load rubbish mick-b,

We’re free from the EU shackles. One day you’ll get over it, evidently not yet 😂

Indeed you do hardup 😂👍